Washington (CNNMoney.com) - Senate Democrats failed again Tuesday to muster the 60 votes needed to start debating Wall Street reform.
The official vote was 57-41 in favor of moving forward with Senate Majority Leader Harry Reid, D-Nev., switching his vote from "yes" to "no," in a procedural move that allows him, under the Senate rules, to bring the bill up again as early as Wednesday for another vote.
Sen. Ben Nelson, D-Neb., again joined 39 Republicans to vote against the proposal to officially start debating the Wall Street reform legislation before other lawmakers on a Senate Banking panel negotiate a deal. Two Republicans did not vote.
"We think this is the best way to get a better bill," said Senate Minority Leader Mitch McConnell, R-Ky., explaining why his caucus has united to block the bill's movement.
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Obama was voted "The most repected World Leader" by 7 European Nations. Now, we know why. The Republican Party makes him look Good! ! !
I don't get it – if the democrats want to reform Wall Street why don't they reform fannie & freddie who are at the root of all this evil? If all of you far left liberals think the Republicans are in bed with Wall Street you had better start doing some checking on obama, frank, dodd, joyce foundation, ccx, tides foundation and your beloved georgie soros.
The embarrasing behavior of the Republican Party makes Obama look good. Perhaps, that is why he was voted the most respected world leader by all of the European Nations.
A better bill huh and when does this place. Even if Obama is defeated in 2O12 that's a Couple years do we dare wait.
I say not to their pay raise as well, since they do nothing!
The GOP is in bed with the banks. The banks want to get right back to their dirty tricks and the GOP doesn't want to regulate them. That's why we voted them out of power in the first place.
You know we can't afford another bailout. We need a bill out to rein in these clowns. Watching the hearing was pretty disgusting. Never knew bidness types were as oily as those legal eagles.
They are in this too deep. Something is not right. We can't open debate on financial reform because somebody's gonna be exposed. Repubs are leading it but I bet there are a few Dems that are breathing a sigh of relief as well. Time will tell....shortly.
Blame KY and AZ for their representatives.
Nelson must be an idiot. This was just to debate the bill. Surly that would give you a chance to read it. Not the first time this idiot has caused problems . Maybe we need a some one else in his seat?
LOL- the Obama is the BIGGEST beneficiary of Wall Street-it's called campaign contributions 'Chicago style'
Mikey, it's more like they losing the game so they pick up the ball and going home. Like a 5yo throwing a fit when they don't get their way.
Republicans caused this financial meltdown and they have no plans to help fix it.
If we start telling people that one of the reasons we had very high prices of gas a few years ago was that Wall Street was behind by just keeping raising the contract prices things might change. WHICH side is the GOP on? Business, of course, after all wasn't the bankruptcy laws changed to benefit them.
McConnell, you are doing the best for the people. LOL
When you meet with the big cats on Wall Street behind closed doors, you are up to something and it is not in the best interest of the American people. I don't call it a democracy when the Party of NO is so unified that they all think the SAME way. That is impossible to have that many people with the same mind set. What is the controlling factor in the Republican party?
Republicans do not want to debate regulating Wall Street IN FRONT of the American people!
I say the Democrats need to force the Republicans to debate in public, so America can SEE who is FOR the People, and who is AGAINST the People!
Hint: the GOP is against!
Once again the left are being fed a boat load a crap and lies and once again they belive it. How ignorant can you people be? Congress itself is more culpable, especially the democrats, in the the Wall Street debacle.
This whole Goldman Sachs things smells to high heaven and shows just how low the Democrats and Obama can go. They all took money from Goldman and now they are hanging these people out to dry. Real funny on the timing too!
These are the same quacks who allowed the bonuses earlier and Dodd tried lying his way out of it. On national telivision! If this or any other bill has Dodds name on it, you can be sure of one thing, it's going to fail even if passed. The man is a liar and thief and should himself be in jail!
What do they have offer other than no?
there's no R-E-F-O-R-M in reform.
that is simply a term that POTUS David Axelrod ordered his minion Obama who is the president of the media to use in their phony news articles.
Mickey; i guess you are one of those who want the gov. to take total controll of everything in our lives. I don't. Sorry but in Nov. the controll of this country will swing back to the center where it belongs.
Why are people acting suprised? They PROMISED this when the HCR Bill passed. Allowing the Dems to have any more victories, such as the first one was (more like a pyrrhic victory), just cannot be allowed. The GOP is freaking out as it is. Just keep in mind:
FOR THE GOP TO DO WELL IN NOVEMBER 2010 and 2012, WE ALL NEED TO BE SUFFERING RIGHT UP THROUGH NOVEMBER 2012.
Otherwise, they'll have nothing to blame on the Dems since it was the GOP who started this economic mess and ignored the need for health care and financial industry regulatory reform. They absolutely need it to shift to blame on the Dems for being incapable of fixing it.
You know..... if the Dems aren't going to get 60 votes to start debate, maybe they should go back and re-work the bill a little bit before trying to get the votes again. Kind of a novel thought, don't you think?
another repubulican stall tactic why? because they haven't gotten the money from wallstreet.They don't even want to debate the issues and when the billgets passed they say they wasn't included I still say go to 51 votes and let thr repugs explain to the people why they wanted to protect wall street.
When November comes and it is time to vote there is only a few questions to ask yourself? Do we want the same party in office that was in charge 2000 to 2008? The same guys that put USA in the deeping hole its been in in the history of the country? The same guys that can't vote yes on anything to help the country or its citizens get out of the financial mess we are in? The party of "NO"?
NO bailouts and regulating Freddie/Fannie is an absolute must! Until Harry gets these 2 minimum requirements into this bill, then the Senate SHOULD vote no!