Democrats Corral Votes on Bank Bill

[Pirate Smile]

Source: New York Times

WASHINGTON — Final passage of sweeping legislation to overhaul the nation’s financial regulatory system is now a question of when — not if — according to Senate Democrats. Yet, there still seem to be a lot of questions about when.

As in: When will the Senate majority leader, Harry Reid of Nevada, be confident enough that he has the 60 votes needed to overcome any Republican filibuster and bring the legislation the Senate floor?

And that question could hinge on another: when will Gov. Joe Manchin III of West Virginia name a replacement for Senator Robert C. Byrd, a Democrat and supporter of the legislation, who died recently at the age of 92?
Yet another question is when the few Republicans who previously supported the bill will join Democrats on a motion to end debate and proceed to a final vote.

-snip-
For now, it seems that the earliest the bill could win final approval is Thursday. But Mr. Reid has contingency plans to work on other legislation, including an extension of unemployment benefits and a bill to bolster lending to small businesses.

Read more: http://www.nytimes.com/2010/07/12/business/12regulate.html?hp

[sandnsea]

1. Republican filibuster

Finally, somebody is using the right word.

Let's hope they use it when Republicans vote against unemployment too.

[LawnKorn]

2. How about calling it Republican political obstructionism

Republican political obstructionism has been the tone since President Obama was elected to office. There is no other explanation when the Republicans work to defeat a bill, not for what is in the bill, simply to injure the Administration politically.

[4dsc]

3. Move along, there's no REAL reform here..

What a fricken joke.

[RBInMaine]

5. Bullshit. Sorry, but your purity party does not and never has existed. Welcome to earth.

[Roland99]

4. Not like this bill is going to have any REAL effect.

Obama's pals on Wall St should be quite pleased with this "reform".

[RBInMaine]

6. Please, take your incessant bitching to Freepland where it belongs.

[Roland99]

11. Ah..you're one of the deniers

Might want to look into who Obama picked to go into his top economic positions (hint: it wasn't those who'd surrounded him during his campaign. Bigger hint: Bank of America) and how eager he is to compromise real reform to make the Wall St execs happy.

[lib2DaBone]

7. There is no Glass-Steegal in the bill...

It does not outlaw Credit Default Swaps and it penalizes local Banks.

A worthless bill.. those are the facts... no bitching.

[Roland99]

12. well, it kinda sorta is. But, they have, what, 10-12 years to reach that point?

wow...what big teeth this reform bill has!

[karynnj]

13. It does not penalize local banks and it does include SOME constraints

on the level of risk Banks can take. Now, a stronger wall between trading and banking would have far better - and Cantwell, in particular, fought for that. She is now a yes vote, even though she is likely still disappointed this is not stronger, because it is better than the status quo.

The fact that it has the support of all Democrats, except Feingold, should suggest to you that it is better than the status quo. Elizabeth Warren has praised the bill - and she has far better credentials on this issue.

As to Credit default swaps at least it sends them through a clearing house that can monitor them is a major improvement over them all being done behind closed doors.

[h9socialist]

8. Whether the reform bill is adequate or not is not the issue anymore.

The only way to get what the nation and the world needs is to cancel out capitalism once and for all. Until then, it's better to get something than nothing. It's one thing to yell from the sidelines, and another thing to have to carry the ball. The legislative process is an undemocratic disaster. We come up short because the system protects itself via hard head conservatives, and impossible legislative procedures. That's where the anger needs to be directed.

[RBInMaine]

9. Yup ! And until far-lefters can prove THEY have the clout to change it by electing Kucinich types

EVERYWHERE in the country, you stay real and count your blessings with the best you can get under the circumstances. If the nation and our system was perfect and pure, it wouldn't have taken a Civil War to end slavery.

[w4rma]

10. Looks like that might have to be the case to save this nation from becoming a full aristocracy. (nt)

[Iowa]

14. A DUer bashing "far-lefters"

If it wasn't for those damned liberals causing trouble... How dare they criticize banker friendly legislation!! They should "count their blessings" and just STFU!

And this same poster even has the audacity to suggest that a poster up-thread take his liberal thinking "to "Freepland where it belongs".

Hilarious.

[RBInMaine]

15. Not "bashing," just saying. Either ELECT who you would finally be happy with, or count your bless-

ings with who you have when it isn't a RePUKElican.