April 26th, 2010
06:20 PM ET
11 years ago

Senate Republicans block debate on Wall Street reform bill

Washington (CNN) - Senate Republicans succeeded Monday in blocking the chamber from debating a Wall Street reform bill pushed by Democrats and the Obama administration.

The vote means that senators will continue closed-door negotiations on two proposals passed by Senate committees to be merged into a bill intended to prevent another Wall Street meltdown like the one in 2008 that led to the U.S. recessions.

The Senate's 41-member Republican caucus signaled before the vote it would unanimously oppose the motion to begin debate on the bill, meaning there was no chance it could succeed.

Democrats needed 60 votes to pass the measure, including at least one Republican in addition to the 59 votes in the Democratic caucus.

The final vote tally of 57-41 included two Democrats who voted against the motion. One was Senate Majority Leader Harry Reid, D-Nevada, who voted "no" for procedural reasons to ensure he could bring the motion up for reconsideration in the future.

The other Democrat to oppose the measure, Sen. Ben Nelson of Nebraska, said he did so because there was no final bill to be debated.

Two Republicans were not present for the vote.

Updated: 6:30 p.m.

More on CNNMoney.com: Senate delayed on Wall Street reform

Filed under: Senate • Wall Street
soundoff (49 Responses)
  1. People's Voice

    The prostitution in the Senate goes on and on and on...

    When are We the People going to take our country back from the corporate world?

    April 26, 2010 07:10 pm at 7:10 pm |
  2. Katie

    I can not believe we allow those evil bad wall st firms to make a profit.They should work non-profit and give their money to the people that are too lazy to work(the democrats on entitlements).Why not just everyone go on entitlements and refuse to work-we will have some really happy democrats-100% entitlements-hey just print the money.

    April 26, 2010 07:10 pm at 7:10 pm |
  3. Limbaugh is a liberal

    I'm shocked, I'm shocked! Republicans don't want to debate? What a surprise! Are they still afraid that an open, televised debate would reveal their lies and their incompetence?

    I bet that even if Obama threw up his hands and said: yes, we'll take our hands off and let republicans write the ENTIRE bill, the GOP would still vote against it, just so they can say Obama didn't accomplish reform!

    April 26, 2010 07:12 pm at 7:12 pm |
  4. Janice

    Again the dems/liberals will slam the republicans because the republicans do not want the government to control everything we touch.I am glad we have a party of NO-something must stop the run away spending of the dems. $ 862,000,000,000 and still NO jobs.No jobs and the dems have not touched the subject.

    April 26, 2010 07:14 pm at 7:14 pm |
  5. GJ

    At least one of our parties will stand up for Wall Street! Thank god!

    April 26, 2010 07:17 pm at 7:17 pm |
  6. jbb

    Why does this not surprise most Americans? The Republicans have to protect the Big Boys and Girls of Wall Street, who line their pockets and especially in an election year.

    It would be so wonderful, if just once, they could do something for the middle class American, but of course that takes guts and that's something they know nothing about.

    April 26, 2010 07:18 pm at 7:18 pm |
  7. Moderate

    WHY block it?

    April 26, 2010 07:21 pm at 7:21 pm |
  8. TonyInLargo

    Let's keep bringing it to a vote, so America sees the Party Of No in action. When more Americans see this. it will energize them to vote these Bozos out of office even in midterm elections.

    April 26, 2010 07:22 pm at 7:22 pm |
  9. Jim

    What a bunch of nonsense. Just a few weeks ago the Republicans were complaining about back room deals during the the health care debate. Now they are insisting on making back room deals or they won't allow the bank reform to even have a debate. I've never seen a bigger bunch of hypocritical liars as this current crop of Republican legislators.

    April 26, 2010 07:22 pm at 7:22 pm |
  10. GOP = the great white dinosaur

    The GOP hold up legislation? Never. (gotta keep the bankers happy, way to look out for the little guy)

    April 26, 2010 07:25 pm at 7:25 pm |
  11. Claudia, Houston, Tx

    41 Republicans paid off by Wall Street lobbyist and I want their names and how much of our tax payers dollars they were paid.

    April 26, 2010 07:27 pm at 7:27 pm |
  12. ib

    Good; if the banks fail let them it's call freedom to succeed or fail. It's time to stop putting the gov. over everything.

    April 26, 2010 07:32 pm at 7:32 pm |
  13. annie s

    Sen. Ben Nelson – just another Republican who calls himself a Democrat. They are nothing but obstructionists who are in bed with the corporate honchos and Wall Street cheaters who nearly ruined this country.

    April 26, 2010 07:34 pm at 7:34 pm |
  14. R. Wood

    After a week of contradictory messages, we now, officially, know where Republicans stand. It's not with people who work hard trying to take care of their families and build for the future. It's with folks who make millions risking, not their own, but other people's money.

    April 26, 2010 07:34 pm at 7:34 pm |
  15. Ramon

    Wall Street and Big Banks casino bet resulted in trillions in home value, millions of foreclosures, trillions in 401/pension loses, and worst 8 million scar unemployed worker. We didn;t bet on this

    April 26, 2010 07:36 pm at 7:36 pm |
  16. Kim

    Oh again the Republicans don't get it! We want reform.... we want reform, to reform the broken system. Ultimately it may still bring down this great nation, we haven't paid for the last bailout and Republicans don't want reform? What the hell are they doing in office?

    Voting NO is not a solution to losing the last election, I hope they keep it up so that they lose the next one too. And Ben Nelson voted NO why?

    April 26, 2010 07:37 pm at 7:37 pm |
  17. ThinkAgain

    What are the Republicans afraid of?

    A floor debate, aired on C-SPAN2, would give the American public an up-close and personal view of who wants to fix Wall Street and protect consumers and who wants to maintain the status quo of letting Wall Street fleece hard-working Americans.

    Guess I just answered my own question ...

    April 26, 2010 07:39 pm at 7:39 pm |
  18. Marty, FL

    Will the tea partiers finally hold these Republicans accountable for siding with Wall St. greed? OR are the tea partiers going to be party-line shills for the GOP establishment (and "Cornhusker-Kickback" Nelson)?

    April 26, 2010 07:42 pm at 7:42 pm |
  19. ED FL

    Thank you so much GOP'ers We demos will need all the help we can get in november and your IDIOTIC manuevers will/are helping us to again kick you in the rear.

    April 26, 2010 07:52 pm at 7:52 pm |
  20. Sandy

    At least we now know who is on the side of Wall Street.

    April 26, 2010 08:00 pm at 8:00 pm |
  21. gerry luimes

    The president has said: "You have to make choice between Wall street and Main street. Obviously and apparently a "difficult " choice in spite of a consensus_ for_ regulation. It appears that the REPS have amply illustrated not to stand for free enterprise they so religiously seem to defend,nor for capitalism,but rather for its sorry cousins,
    corporate welfare and capitalism of their cronies.

    April 26, 2010 08:00 pm at 8:00 pm |
  22. Every

    Are these the same folks that made a "big deal" out of the democrats backroom deals, but now because its what repuglicans want to do its alright! All right Tea Party people, where is the protest against repuglicans wanting to keep making backroom deals on reform legislation instead of debating the bill on the floor! REPUGLICANS ARE HYPOCRITES AND THEIR SUPPORTERS!

    April 26, 2010 08:02 pm at 8:02 pm |
  23. They call me "tater salad"

    No news here!!..........YAWN!!!!!!

    April 26, 2010 08:03 pm at 8:03 pm |
  24. Blackbarbie

    I hope the Pres. does another KobeBryant-like slam dunk, like he did w/ the Hlthcr Bill.......LOL

    April 26, 2010 08:15 pm at 8:15 pm |
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