June 29th, 2010
01:55 PM ET
4 years ago

Wall Street reform bill hits snags

Washington (CNNMoney.com) - An increasingly troubled Wall Street reform bill may not make the Democrats' July 4 deadline for final passage.

In fact, lawmakers are considering re-opening the conference committee created to meld the two different versions of Wall Street reform to address a revolt by Republicans who don't like a provision that taxes the largest banks and hedge funds.

Also, a planned Thursday memorial for Sen. Robert Byrd, the West Virginia Democrat who died Monday, means that if the Senate doesn't finish work passing the bill by Wedneday, they could run out of time this week.

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Filed under: Wall Street
soundoff (26 Responses)
  1. Mesa Mick

    Obstructingpassing laws that offer some protection for consumers and then gumming up the works even more so that the rethuglicants can get tax breaks for their uber-rich Wall Street cronies....

    And this is news?!?

    Anybody that ever votes rethuglicant again is an imbecile and down right un-American as well. We should sterilize anyone that votes rethuglicant so as to end the evangelical gene pools that produces these mental defects....

    June 29, 2010 02:05 pm at 2:05 pm |
  2. Obozo's Recod Deficit + Higher Taxes

    TAX TAX TAX

    Is that all DUMocRATS know how to do?

    June 29, 2010 02:06 pm at 2:06 pm |
  3. David in Houston

    Yes, Republicans...whatever you do, be sure to protect the banks & hedge funds! Lord knows your re-election campaigns depend on them!

    For shame...

    June 29, 2010 02:12 pm at 2:12 pm |
  4. GI Joe

    ....a revolt by Republicans who don't like a provision that taxes the largest banks and hedge funds.....
    ---------------
    Kinda speaks volumes about the Party of NO, doesn't it?

    Make them work thru the holiday weekend until it's done. They take too many 4 day weekends and too many 3 or 4 or 5 week breaks during one year. $170,000+ for working part-time? No wonder they lie to us so much and vote NO. Heckuva sweet part-time job.

    June 29, 2010 02:18 pm at 2:18 pm |
  5. S Hills

    Surprise, surprise, surprise!

    June 29, 2010 02:19 pm at 2:19 pm |
  6. gt

    those fat cat bankers and insurance executives and hedge fund brokers need to be taxed to the max,,,, they lean on the little man all the time... make them pay,,, they got the money,,,

    June 29, 2010 02:19 pm at 2:19 pm |
  7. NYT:"during this election cycle big oil has paid 12.8 million in contributions, 71% to Republicans"!

    Wow, what a surprise, the GObP party protects the big defenseless banks and the rich hedge fund operators.

    Next you will be telling me June Cleaver did not prepare breakfast while wearing her pearls.

    What's next. the GObP party apologizing to bP?

    Uh, nevermind.

    June 29, 2010 02:24 pm at 2:24 pm |
  8. Gil

    I'm sure the Party of No and the repuglicans are happy about this so that they can try a second time to ruin America after their deregulation of Wall Street, Big Oil and Big Business!

    June 29, 2010 02:25 pm at 2:25 pm |
  9. Pete in Guilford

    Please don't make those poor banks pay any taxes! TOO BIG TO TAX.

    June 29, 2010 02:25 pm at 2:25 pm |
  10. Jim

    It is beyond me why working class Americans vote Republican. Neither party really cares about the working class. They are only interested in how much they can tax us, raise the retirement age so that no working class American can retire. I guess you can call it legalized slavery? Welcome to the caste system. We work till we die so the bankers can sit back and count their money and take everything away from us in the end. The Republican party should be outlawed and deemed treasonous to the American working class. The Democrats are spineless and seem to give in to the Republicans on most issues.
    The passing of Senator Byrd is unfortunate but it should not stop these senators from doing their job. Do the jobs the people voted you in to do. You don't need a whole day for a memorial after all us working class folks can't take the whole day off unless it was a death in our immediate family. Pass the bill and do something for the working class.

    June 29, 2010 02:27 pm at 2:27 pm |
  11. S Hills

    This will sound crazy yet if thought through it's not: We don't need the Supreme Court anymore. States and State Supreme Courts can do the job.

    What the Supreme Court was meant to do it doesn't do because the nation has changed. It doesn't keep the Federal Government in 'Checks and Balances,' and it doesn't protect, 'Common People,' with real-life equity.

    The Supreme Court is adding to the litigation nightmare that is part of the problem, not the solution.

    How much would we save in the next 5 years if the whole thing was disposed of? The country would be better off.

    June 29, 2010 02:30 pm at 2:30 pm |
  12. Dutch/Bad Newz, VA

    Once again we have evidence that republicans are looking out for the corporations and not the taxpayer.

    June 29, 2010 02:32 pm at 2:32 pm |
  13. ran

    We have seen the enemy and it is the fear/hate/obstructionist/Purity Republicans.

    Long live a free and diverse America not the purity tested cookie cutter one that the Republicans want.

    June 29, 2010 02:34 pm at 2:34 pm |
  14. awaitingliberalizationbyCNN

    Gosh what a doggon shame. You mean the liberals might not be able to give something that Obama can use to screw over the hard working, American taxpayers? I don't trust this incompetent, arrogant, inept, corrupt union toady.

    June 29, 2010 02:45 pm at 2:45 pm |
  15. Fred Riek

    More Republican obstructionism. This time they prefer to protect the source of much of their contributions, large corporations out to fleece the public, over the best interests of our Country and us, its citizens. Please remember how the Republicans have fought for their own interests over those of the Country and ours when you vote this November.

    June 29, 2010 02:45 pm at 2:45 pm |
  16. Nick

    I'm not pro-Dem or pro-Repub but this bill needs to address Freddie and Fannie, period. Anything less is a complete failure, and generally one of ideological and political reasons.

    June 29, 2010 02:47 pm at 2:47 pm |
  17. The American people demand Large Banks and Hedgefunds be taxed.......

    Regardless......Democrats/ Independants already have 58 Democratoc votes and 2 Republican votes. Therefore, the bill will eventually pass as is with taxing for large Banks and Hedgefunds. The American people demand it !!!!!!!!

    June 29, 2010 02:48 pm at 2:48 pm |
  18. David

    Stupid Republicans, their mandate seems to be, the rich get richer and the poor get poorer.

    June 29, 2010 02:48 pm at 2:48 pm |
  19. TomInRochNY

    Rs protecting the interests of corporate America again. What a surprise. God forbid they should have to pay for any of the mess they make. That's what tax payers are for.

    June 29, 2010 02:51 pm at 2:51 pm |
  20. The American people demand Large Banks and Hedgefunds be taxed.......

    Regardless.............Democrats/Independants already have 58 votes and Republicans have 2 votes. Therefore, the bill will eventually pass as is with taxation for large banks and hedgefunds. The American people demand it !!!!!!!!

    June 29, 2010 02:51 pm at 2:51 pm |
  21. carol_cairo

    "Bubble, bubble, toil and trouble. Witches brew and ... " Easy to spot the GOP'er wrecking crews around when gov't is in a position to do some good.

    June 29, 2010 02:51 pm at 2:51 pm |
  22. Donkey Party

    Once again the GOP sides with the banks. The GOP does nothing for America.

    June 29, 2010 02:59 pm at 2:59 pm |
  23. Sniffit

    Yeah yeah...GOPers, thru Captain Teatard Scott Brown himself, pulled another bait and switch maneuver. Whatever. He may think it's clever strategery for November 2010, but I can tell you it won't play well in MA when his turn is up. The reality is, Brown is seeking to protect a loophole that in turn protects big banks.

    Bring back the old filibuster rules for frig's sake. Dude can pose nude in some crappy magaziner, he can certainly stand in front of his colleagues for 10 hours wearing manpampers and reading the phonebook if he so thoroughly believes big banks should be able to make risky investments that put their solvency on the line.

    June 29, 2010 03:03 pm at 3:03 pm |
  24. MnMary

    "In fact, lawmakers are considering re-opening the conference committee created to meld the two different versions of Wall Street reform to address a revolt by Republicans who don't like a provision that taxes the largest banks and hedge funds."

    Yup, the Republicans sure are revolting all right.

    June 29, 2010 03:08 pm at 3:08 pm |
  25. LG

    Here we go again....

    According to the Republicans, we can't bill the large banks for the costs of oversight to keep them from destroying the economy yet again.

    And the Republicans orate about how they oppose government spending. Is it better if the "little people" pay for the banking oversight?!

    June 29, 2010 03:38 pm at 3:38 pm |
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