Cloture invoked on Financial Regulatory Reform Bill, 60-40.

[jefferson_dem]

Brown, Snowe, Collins vote yes. Feingold, Cantwell vote no.

http://twitter.com/wonkroom/statuses/14379394496



When at first you don't succeed...

After failing yesterday to get the 60 votes they needed to bring debate on the financial reform bill to a close, Senate Democrats succeeded in this afternoon's cloture vote.

The final vote today was 60-40 (yesterday it was 57-42). Next up is a final vote on passage, which is expected to take place within days.

Two Democrats -- Sens. Maria Cantwell (D-WA) and Russ Feingold (D-WI) -- still voted no today, but this time around, Sen. Scott Brown (R-MA) joined Sens. Olympia Snowe (R-ME) and Susan Collins (R-ME) in supporting cloture.

Sen. Arlen Specter (D-PA), who was absent for yesterday's vote, also voted in favor of cloture. Senate Majority Leader Harry Reid also changed his vote from "no" to "yes" -- though yesterday's "no" vote was merely a procedural necessity that allowed him to bring up the motion again.

http://tpmdc.talkingpointsmemo.com/2010/05/senate-votes-to-end-debate-on-financial-reform-bill.php

[Cant trust em]

1. Keep it real, Russ.

This bill isn't as good as it could be.

[sandnsea]

14. Only blue dogs are supposed to be loyal

and vote with the rest of the Democratic Party, is that it?

[dmallind]

2. Anybody know what Feingold's beef is or is it just procedural?

Not following this one that closely. Thx.

[jefferson_dem]

3. He's awaiting perfection.

gNOp loves them some Russ right now.

[joeybee12]

7. Nope, just a step forward, not backwards...n/t

[jefferson_dem]

12. So what do the 38 Republicans want who also voted against cloture?

This, in my view, is simply another example of how a tiny handful of Dems are teaming up with the teabaggers and gNOp to obstruct positive reform.

Same as before with stimulus, Obama's budget, cap and trade, health care reform...

That's ok. We'll move forward in spite of them.

[chill_wind]

13. Russ Feingold "teaming up with teabaggers"

just to be obstructionist. Ridiculous remark.

[karynnj]

19. That wording is problematical, but Feingold has often been

a not dependable vote.

A while back, someone posted a link that showed many Senators, including Sherrod Brown and John Kerry as only moderately progressive - while Feingold was the most progressive. Two things startled me, one was that for each Senator, it listed the Senator whose ranking was most similar - and they paired Kerry and Brown.I really like both, but they are different. Kerry is more a classic liberal, who is fiscally "responsible" and Brown is more of an economic progressive. So, to see where they were less "progressive" than Feingold, I looked at all the votes in the first half of 2009. (The report was for 2009 - I looked just at half and compared just Kerry and Feingold - because it was tedious.)

Here is what I found: http://journals.democraticunderground.com/karynnj/33

In summary, where they differed, Feingold was more willing to vote against spending, voted to weaken gun laws, voted the opposite way from Kerry on anything related to climate change, voted against reinstating some fairness doctrine, voted with the Republicans on two border security measures, and obsessively against earmarks.

Now, I like Feingold, but with the exception of the confirmation of Geitner, I think I agree with Kerry on all of these.

[chill_wind]

21. That's fair. What I objected to is the broad tar-brushing of his motives.

and the equation of them to the Pubs'-- who are obstructionist for the sake of it.

That isn't what his actions in this have been about.

[karynnj]

22. I agree 100% with you

I did not like that equation with Kucinich as well. I do understand and agree with the frustration that sometimes you need to go with something that is less good than you want - and less good than needed, if it is better than the status quo and it's the best that can pass.

I have seen more equation of the people working with the leadership to get a bill that will pass with not being good progressives, Democrats or even good people. So, the over the top language is on both sides.

Obviously the fact that none of us really equate Feingold and the Republicans or worse, teh Tea party, is that if asked if you lived in Wisc, would you vote for Feingold - and the same question, with Kentucky and Paul, I bet it would be 100% Yes,no.

[flpoljunkie]

11. Now you know that's not true. Volcker wants Merkley-Levin voted on.

[ladjf]

17. I don't trust Russ. But, I could be wrong. nt

[DCBob]

18. The problem with Russ is that there's only one of him.. he a lone wolf in many cases..

Compromise is still the name of game even with 59 "Dems".

[TheKentuckian]

23. What a senseless smear!!!

Care to elaborate on how this hobbled bill will prevent another financial crisis? Better yet, explain how the crash happened, what caused it, and THEN explain how this bill as written will prevent another meltdown.

If you love this country and care for it's citizens then it is beyond crucial to make substantial changes to the way business is done on Wall Street. It was bad enough the Senate refuses to end too big to fail and break the behemoth banks up but to just roll out a bill that allows the same systemic problems to go on essentially unchecked is nearing treason.

They are not protecting the American people nor our economy and that lame comment encourages and accepts more of the same. You act like these fuckers have no responsibility to the people.

[Cant trust em]

4. There are other amendments out there that could strengthen the bill.

He doesn't want debate to have officially ended because he wants those amendments to come up for votes.

[DrToast]

10. Yep, a lot of deserving ammendments couldn't even get a vote

[Mass]

6. A number of important amendments have not been given the chance of a vote.

Among those McCain-Cantwell to reinstantiate Glass Stiegel or something similar, Hagan amendment to regulate payday loans, and a few other important things like that.

I imagine that Reid has accepted a few, but probably some important amendments have been refused a vote.

[Cant trust em]

9. I really wanted the Hagan amendment.

Payday lenders are hugely predatory, particularly for communities of color.

[sandnsea]

16. Yes and that always happens

When a blue dog votes against a Dem bill, then they're being disloyal and need to be thrown out. But when a blog favorite does it, well then he's just got principles.

Ridiculous.

[Mass]

20. They all have principles. Some have principles I agree with, some dont.

And sometimes, I agree with some principles and not with others in the same person.

It is as simple as that. I dont see why it seems so complicated for some.

[maxsolomon]

27. Cantwell's beef was insufficiently strict derivatives regulations

I think she and Feingold were on the same page. Too bad Bernie Sanders wasn't standing with them...

[flpoljunkie]

5. Looks like there won't be a vote on reinstatement of Glass-Steagall

Reid said there a couple of germane amendments yet to be voted on. Will Merkley-Levin be one if them after Paul Volcker wrote Senate a letter today in support of it?

[FrenchieCat]

8. I think the Volker Rules will get in there......

and in essence, that is the reinstatement of Glass-Steagall,
from my understanding.

[DCBob]

15. Its noteworthy that Harry is starting to pick off a few Repubs...

The GOPers are starting to lose their "lockstepedness".

[bvar22]

24. YES!

The Democratic Party Leadership knew that if they moved far enough to the Right, and adopted the Republican agenda, eventually Republicans would start voting FOR it!
Brilliant!


"There are forces within the Democratic Party who want us to sound like kinder, gentler Republicans."---Paul Wellstone

[ShortnFiery]

25. Absolutely!

Genius I tells ya! ;)

[DCBob]

26. Yes! Sometimes compromise is better than endless mindless gridlock..

at least for those of us who actually want to accomplish something.

[bvar22]

28. And capitulation to corporate interests is worth....?

Even Dodd admits that this anemic "reform" won't prevent another meltdown and taxpayer bailout.
It is mostly window dressing and some minor adjustments to the fringes, but leaves the failed system in place and out of control....

BUT..it DID get a couple of REPUBLICAN votes !!!
so WOO-fucking-HOO.
:woohoo:

Chalk up a VICTORY!
Which way to the "Mission Accomplished" Parade?
I wonder if Bush is still using that old banner?
The "Centrist" Democratic Party Leadership could use it today!
:woohoo:

[DCBob]

29. John Kerry approves...

http://kerry.senate.gov/cfm/record.cfm?id=325131

[bvar22]

30. And that changes the situation.....HOW?

John Kerry has a history of Heroism.
He also has a history of "questionable" votes.


"If we don't fight hard enough for the things we stand for,
at some point we have to recognize that we don't really stand for them."
--- Paul Wellstone