July 13th, 2010
01:37 PM ET
13 years ago

Obama: 'Break through' on bank bill

[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2010/images/07/13/art.obama.0713e.gi.jpg caption ="President Obama on Tuesday praised three Republican senators for saying they would vote for Wall Street reform."]Washington (CNNMoney.com) - President Obama on Tuesday cited a "break through" on Wall Street reform and praised three Republican senators for saying they would vote for the bill.

Obama, speaking from the White House, urged the Senate to act quickly, saying he would like to sign the bill into law next week. Senate Democrats told CNN that they will hold a test vote on Thursday.

"Three Republican senators have put politics and partisanship aside to support this reform," Obama said. "I'm grateful for this decision as well as for all the Democrats who worked so hard to make this reform a reality."

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Filed under: CNNMoney.com • Financial Reform • President Obama
soundoff (21 Responses)
  1. La Piovra

    If there are three Republican senators left with brains and heart, maybe God won't turn them all into pillars of salt.

    July 13, 2010 01:58 pm at 1:58 pm |
  2. I'm Sorry BP; I'm Sorry Wall Street; I'm Sorry . . .

    That you lazy unemployed freeloaders are making the deficit worse.

    I'm proud that the Bush tax cuts should be extended to the ultra-wealthy; I'm proud that our party will end social security, medicare and all welfare; I'm proud that corporate lobbyists tell us what to do . . .

    I'm A Republican

    July 13, 2010 02:00 pm at 2:00 pm |
  3. Rick McDaniel

    Too bad the Dems aren't as willing to put partisanship aside for the common good.

    July 13, 2010 02:10 pm at 2:10 pm |
  4. Ron

    So the King of Socialism is proud that government has taken even MORE control of the economy? Funny how more government control is creating more uncertainty in the economic market which creates MORE unemployment and LESS private business stimulus. When will the unintelligent people who voted for this fool realize that MORE government control in the economy creates LESS economic growth!! Whoever thinks government can control money better than those who actually invest it is a fool.

    Hasn't history shown what happens when government gets in charge? Social Security – Bankrupt. Medicare – Bankrupt. Medicaid – Bankrupt. War on Poverty – a Failure. U.S. Postal Service – a Failure. When you think " Government – Yes" just remember it turns into "Economy – No" and "Employment – No".

    Congratulations – when I thought there was nothing else Obama could do to make this economy worse he has successfully done that. This economy is getting ready to spiral out of control and every idiot that supports Obama and these policies will only have themselves to blame.

    July 13, 2010 02:14 pm at 2:14 pm |
  5. break through?

    I have absolutely no expecations for anything you do on this to matter one bit

    please, surprise me and make a good difference, wall street cannot govern themselves

    July 13, 2010 02:18 pm at 2:18 pm |
  6. katiec

    Voters, we must all remember who has lobbied against, votes against finance reform.
    These people will sacrifice us and our country for Wall St, continue to sell the American people out for big business, trying to stamp out middle class America, the less fortunate, veterans and senior citizens.
    How any responsible, caring, patriotic American can support any republican is beyond me.

    July 13, 2010 02:19 pm at 2:19 pm |
  7. Jeff from Va

    My 1st question is, how much money is wasted on "PORK" in the bill!!!

    July 13, 2010 02:21 pm at 2:21 pm |
  8. American Patriot - a "real" tea partier

    Wait a minute -
    Did I read that right?

    Three republicans are working FOR America instead of a whacked-out GOP agenda?

    I'm calling Ripley's!

    July 13, 2010 02:23 pm at 2:23 pm |
  9. Peter s

    Mr. President Please, make sure that, the economic melt down will never happen again! recklessness should not be tolerated and bad behavior should not be rewarded!!

    July 13, 2010 02:25 pm at 2:25 pm |
  10. Michael

    Let's hope those three Republicans have the guts to stand up to McConnell and Boehner, in whose opinion the rest of us are just a bunch of pesky ants taking up space in Limbaugh's back yard.

    July 13, 2010 02:25 pm at 2:25 pm |
  11. Naqib

    Wall street didn't get jacked until the housing market ate it....

    Fannie and Freddie... yet those issues aren't addressed in the bill...

    July 13, 2010 02:31 pm at 2:31 pm |
  12. Dennis

    I would like to commend the three Republicans who had the courage to do the right thing. After the depth of the destruction that the financial industry reaped on the whole world and particularly the average American citizen, I find it difficult to understand how anyone could not vote for reform. I have been on Wall Street for 40 years and trust me, it needs reformed.

    July 13, 2010 02:34 pm at 2:34 pm |
  13. Sniffit

    uh oh...looks like the GOP needs three more bon fires...after all, it's not about what they do or what they believe, it's ALL about what they prevent Obama and the Dems from doing (i.e., helping in any way shape or form...we're supposed to suffer for voting for a black liberal...otherwise, they won't be able to point at him and say "he did this to you").

    July 13, 2010 02:35 pm at 2:35 pm |
  14. Al

    Just goes to show you that if you throw enough money at Senators, they will cave.

    Another reform bill purchased by our tax money.


    July 13, 2010 02:37 pm at 2:37 pm |
  15. Nick

    God Bless President Barack Obama, Glod Bless the United States of America.

    July 13, 2010 02:45 pm at 2:45 pm |
  16. veteran

    This has always been act quickly before the populace catches on to this power grab!!

    July 13, 2010 02:46 pm at 2:46 pm |
  17. Politics gives me a headache ...

    I wish the other Republican "idiots" would take a lesson from Collins, Snowe, and Brown - the financial bill does not go far enough but it is a start - as per the other Republican Senators ... I hope that they all get thrown out on their rich, fat butts!!

    July 13, 2010 02:50 pm at 2:50 pm |
  18. Gary

    The Bank bailout was a sham. Both Obama and Bush were bought and paid for by Goldman Sachs. We need new leadership. This bank reform bill is a joke.

    July 13, 2010 03:00 pm at 3:00 pm |
  19. AJ

    Why doesn't Obama just switch parties? He's so worried about appeasing republicans that most of the bills that are coming out of congress are toothless. On top of that, how many times does he need to throw good legislation and democratic members of the house under the bus? Obama talks big and makes grandiose speeches but his actions NEVER measure up. I am a lifelong Democrat who is praying that he does not run for a second term. I woul hate to be forced to support a republican for the first time in my life because of someone like Obama.
    ONE AND DONE!!!!

    July 13, 2010 03:03 pm at 3:03 pm |
  20. Keith in Austin

    Banking reform
    Energy reform
    Healthcare reform
    Immigration reform
    Oil industry reform
    Housing reform
    Auto industry reform
    Comrade Obozo re-forming Amerika to a Euro-socialist state! Left-wing change we can believe in for sure! Thanks to all the bleeding heart idealist liberals for electing the worst President in US history! Cya in 2012 kiss this incompetant boob goodbye!

    July 13, 2010 03:07 pm at 3:07 pm |
  21. Malty

    The bill is garbage and doesn't address the real issue that caused the economic free fall (government regulated lending practices and corruption/lack of oversight at quasi-government entities, Fanny and Freddie).

    It seems that all of Obama's policies address symptoms nd not the core problems (see 'healthcare' reform, stimulus spending, GM takeover, BP spill....). I'm not sure it he and his handlers are stupid or just playing politics–or a little of both.

    Any representative that votes in favor of this bill is just raising rates and fees. The legislation doesn't address the true issues.

    July 13, 2010 03:16 pm at 3:16 pm |