Reply #10: here.....

[robinblue]

Forum Name Latest Breaking News
Topic subject Senate blocks financial regulation bill
Topic URL http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x4357643#4357643
4357643, Senate blocks financial regulation bill
Posted by Amerigo Vespucci on Mon Apr-26-10 10:28 PM

Source: USA Today

A sweeping proposal to revamp Wall Street suffered a legislative setback today when the Senate failed to bring the measure to the floor for debate.

Voting 57-41, Senate Democrats could not muster the 60 votes needed to overturn the threat of a GOP filibuster and begin formal debate on the bill, which has become President Obama's top priority following his success on health care.

At least one Democrat, Sen. Ben Nelson of Nebraska, voted with all Republicans against advancing the measure. Senate Majority Leader Harry Reid, D-Nev., switch his vote to "no" on the measure -- a procedural move that will allow him to call for a new vote later this week.

Politically, the failed vote immediately allowed Democrats to cast Republicans as obstructionists on the issue that Americans generally support. A Washington Post-ABC News poll found that about two-thirds of Americans back new regulations on banks.

Read more: http://content.usatoday.com/communities/onpolitics/post/2010/04/senate-blocks-financial-regulation-bill-on-party-lines/1