June 28th, 2010
02:38 PM ET
12 years ago

New hurdles for Wall Street reform

Washington (CNNMoney.com) - The smooth passage of the final Wall Street reform bill later this week just got tougher.

Senate Democrats on Monday were scrambling to secure the 60 votes they need to overcome a GOP filibuster following the death of Sen. Robert Byrd, D-West Virginia, and critical comments by a moderate Republican senator who had been supportive of the legislation.

The House is expected to start debating the 2,300-page bill as early as Tuesday afternoon, with final passage Tuesday evening or Wednesday. And the Senate will take up the bill as soon as the House is finished.

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Filed under: Wall Street
soundoff (24 Responses)
  1. hobart

    Same old, same old. For 8 years we played by Republican rules, and thanks to their deregulation of Wall Street, many of us lost our live savings, our retirement plans and our homes. Their assessment of the problem? If you lost out, you deserve it. Quit whining, get a job, and stop asking the government to help you (even thought that same government royally screwed you).

    To Republicans, those of us who lost everything are collateral damage. Why do Republicans so hate America?

    June 28, 2010 02:47 pm at 2:47 pm |
  2. Charlotte

    Just like the party of NO (meaning NO everything, including CLASS) to sieze upon Senator Byrd's death as an opportunistic springboard to derailing important reforms. And start strong-arming the few in their party that have a modicum of brains. What a bunch of vultures.

    June 28, 2010 02:50 pm at 2:50 pm |
  3. Dominican mama 4 Obama

    Democrats on Monday were scrambling to secure the 60 votes they need to overcome a GOP filibuster

    One Republican Senator that was all for it is doing the typical-RethugliKKKlan-backpedaling-dance. And the Democratic Dummies.... fell for the old GObP Bait & Switch...AGAIN!

    Nothing can get accomplished if this continues. And this, ladies and gentlemen is the Republican strategy for gaining back the White House: block, block, lie, fake, and block again. Those of you that vote to bring more of these "TEAM PLAYERS" into the Senate deserve whatever befalls this country under their greedy, and self-absorbed hands.

    It appears that 2000-2008 just wasn't painful enough for some.

    June 28, 2010 02:59 pm at 2:59 pm |
  4. sensible Cape Coral FL

    PLEASE, please tell me why Republicans hate everything that is good for the country. What is the matter with them?

    June 28, 2010 03:02 pm at 3:02 pm |
  5. S Callahan

    lol...and one STILL can't come to the conculsion that GOD IS ALWAYS IN CONTROL!

    June 28, 2010 03:04 pm at 3:04 pm |
  6. Save America, impeach the treasonous republicans

    Republicans have worked (a joke) hard to water down any true reform to ensure that Wall Street will be protected against the will of the American People. By the time this effort at reform is finished, the republicans should be disliked so much that each GOPer will have to have a pork chop tied around their neck just to get their family dog to play with them.

    June 28, 2010 03:06 pm at 3:06 pm |
  7. Obama knows nothing of the economy

    The 'Wall Street Reform" is a joke of a bill. Obama and the democrats are hoping that Americans will overlook the fact that the economy problems are rooted in programs espoused by democrats.

    Clinton started it with legislation that FORCED banks to make loans to those that couldn't afford it. Barney Frank and Chris Dodd (the jokers sponsoring the bill) didn't do their jobs to make sure that Freddie and Fannie were sound.

    But Obama wants to look like he's doing something, so placing blame and additional 'regulations' are his way of getting off the hook. It's a waste of time that will cost taxpayers hundreds of millions in additional fees, mark ups and costs.

    June 28, 2010 03:07 pm at 3:07 pm |
  8. Jeff Brown in Jersey

    Republican Scum!

    June 28, 2010 03:12 pm at 3:12 pm |
  9. Save America, impeach the treasonous republicans

    I remember when the baggers were telling us that government should follow the will of the majority, except in Iraq, in Afghanistan, in the military with DAFDT, and in Wall Street reform.

    June 28, 2010 03:13 pm at 3:13 pm |
  10. awaitingliberalizationbyCNN

    This bill means the end of free checking accounts and other cost increases for the ordinary tax paying, hard working citizen and tightens the tax squeezing grip of the inept, corrupt, union toady Obozo administration more tightly around the necks of everyone. Hopefully we can hold this power grab off until after the fall elections when the totalitarian grip ACORN and SEIU are trying to put on the American people will end.

    June 28, 2010 03:16 pm at 3:16 pm |
  11. Biased

    So – 2300 pages – begin debate Tuesday afternoon and pass it Tuesday evening – is this some kind of joke? How many have read it and is it going to be what Dodd said – we'll pass it and then see if it works? Where is the scrutiny for Fannie and Freddie? Nowhere to be seen since it is Frank and Dodd who let them get in the mess they have and now they exempt them.

    June 28, 2010 03:18 pm at 3:18 pm |
  12. free market capitalism does NOT = democracy

    wall street and their little dogs (republicans) have won again

    June 28, 2010 03:19 pm at 3:19 pm |
  13. scrambling to secure the 60 votes they need to overcome

    because the GOP just doesn't care

    June 28, 2010 03:21 pm at 3:21 pm |
  14. Eric

    Really? REALLY?

    A 2,300-page bill???

    Are we all on f***ing crack?

    Did we not learn our lessons with the government's unconstitutional hostile takeover of the medical industry?

    We The People will no longer allow any Senator or representative to pass a 2,300-page bill.

    Rather, let me correct that statement... you can vote for it. We just won't re-elect you.

    Vote for this and you can pack your bags this November, because you WILL be replaced. Bank on it.

    June 28, 2010 03:22 pm at 3:22 pm |
  15. Dano

    Once again the party of HELL NO rears it's ugly head to do the bidding of its corporate masters!

    June 28, 2010 03:23 pm at 3:23 pm |
  16. harold

    The Republicans gave us the financial meltdown...and bailed the big boys out.. Now they want to keep that scheme alive and get ready to do it all again someday..."Racket".. ball anyone?......" The filibuster."...... the "Democracy".. buster..... for sure..

    June 28, 2010 03:25 pm at 3:25 pm |
  17. rob

    If the bill doesn't pass, the Dems and the media will blame Republicans. They will use the same old attacks they always do, they will try to use it as a campaign issue but it will fail. I hope Brown and the other Republicans don't cave to pressure and "guilt" and vote for another Dem monstrosity. Dodd even said that we won't know what the bill really does untill its passed into law, because it will take thousands of new Govt burocrats to make it up as they go. They don't even mention the corrupt Fanny and Freddy corps, nor do they address the housing mess and the causes behind that.

    They need to start from scratch in the next congress when we will have a much more reresentative group in there.

    June 28, 2010 03:28 pm at 3:28 pm |
  18. Victim of GOP Taliban

    Another "you decide" reverse psychology speech Jingle and his Republicans about how government is bad and "you" should allow Big $ Business do as they please with LESS regulations.

    Meaning the Wall Street Lobbyists are fighting hard and spending lots of $ to "persuade" Congress how to write the legislation in their favor. AKA to "save jobs".

    June 28, 2010 03:31 pm at 3:31 pm |
  19. Bill in California

    WHAT THIS COUNTRY REALLY NEEDS IS CONGRESSIONAL REFORM. In essence all congress is doing is vainly plugging the holes on a fast sinking ship. Not until REAL transparency and accountibility are the cornerstone once again of our ELECTED officials will there be any meaningful change. It's time for all the PROFESSIONAL POLITICIANS and GAME PLAYERS to retire...or be retired. ONLY the voters of this great country can effect TRUE CONGRESSIONAL REFORM. R.I.P. DIMRATS 2010 EMPEROR 2012.

    June 28, 2010 03:46 pm at 3:46 pm |
  20. Barack.Hussein.Obama-America's-Benevolent-DICTATOR

    Another massive bill that NOBODY knows, has read or understands. This madness has to stop before we become a third world Banana Republic. Hopefully this stinking pile of cow dung gets tossed and not passed.

    June 28, 2010 03:58 pm at 3:58 pm |
  21. Dumbasrocks [R]s

    Are we surprised? The party that Bush/Cheney built is dead-set on saying 'no' to anything, including 'no' to our country's future. This party of neo-idiots apparently wishes to extend the [R] failure of 2000-2006 into the future, and there seem to be a long line of uber-partisan morons out here in the public who support this continued FAILURE.

    June 28, 2010 03:59 pm at 3:59 pm |
  22. Rick McDaniel

    Too watered down to be of much use. Make it tougher, and stand by it.

    June 28, 2010 04:11 pm at 4:11 pm |
  23. Doyle Wiley, MI

    A GOP filibuster on a bill as important as securing our borders would be just another obscenity in a long list of obscenities.

    June 28, 2010 04:15 pm at 4:15 pm |
  24. Barack.Hussein.Obama-America's-Benevolent-DICTATOR

    Hmmm... Healthcare "reform" and Kennedy dies leaving the DemocRATS to circumvent rules to "pass" it after a Republican does the impossible, wins "Kennedy's seat" in Massachusetts.

    Now Byrd dies and leaves the DemocRATs out in the cold once more. (circumventing tricks in the works no doubt)

    The presence of a Higher Power is becoming clearer and clearer with each passing day!!

    June 28, 2010 04:16 pm at 4:16 pm |