TPMDC

Financial Reform Talks Near Collapse, Some GOPers Threaten To Defect


Sen. Chris Dodd (D-CT) speaks with Sen. Richard Shelby (R-AL) on Capitol Hill.

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Bipartisan Wall Street reform negotiations appeared on the brink of collapse Tuesday night after Republican and Democratic principals found themselves at an impasse over the issue of consumer financial protection. But though Republicans have been promising all week to sustain a filibuster, blocking debate on the Democrats' legislation, they now seem prepared to cede the current fight, explicitly saying that, if talks don't bear fruit soon, they'll allow the bill to move to the floor.

"I don't feel like there's a real possibility in the near future of getting a bipartisan bill... I just don't feel that's a possibility," Sen. Bob Corker (R-TN) told reporters in response to a question from TPMDC.

Corker hasn't decided if he himself will ultimately vote to break a GOP filibuster of financial reform legislation. But he's fairly certain that a global agreement between Democrats and Republicans is impossible. "I don't feel under any pressure [but] I'm just far less optimistic than I've ever been."

Unlike Corker, though, Sen. George Voinovich (R-OH), long thought to be a financial reform swing vote, told reporters tonight that he'll give negotiations between Sens. Chris Dodd (D-CT) and Richard Shelby (R-AL) a bit more time. He says he's likely to vote to sustain the filibuster again tomorrow--but if there's no breakthrough soon, he will eventually vote with the Democrats to debate the legislation on the floor.

"Of course I will. We'll just get it out there and move on with it," Voinovich said in response to a question from TPMDC, adding "I think you'll see a whole bunch of other people come to the table and say 'let's get on with it."

"I have an idea how much time it takes to cut a deal," Voinovich said.

Surprisingly, Shelby seemed sympathetic to Voinovich's position.

"The next day or so is very important to see where we are, because ultimately we will have to go to the floor, and we will not be able to resolve everything in this, but whatever we can agree on would be progress," Shelby told reporters tonight just off the Senate floor.

When I told him of Voinovich's comments, he was surprisingly unperturbed. "I would feel that way too," Shelby said. "I would think if we can't make substantive progress in the next couple days...I'd feel the same way."

Shelby and Dodd will meet again tonight, in what is likely to be their most pivotal meeting of the week.

Perhaps in preparation for talks to break down, Republican Leader Mitch McConnell amplified his criticism of the Dodd bill today, calling it "a dramatic overreach."

Democrats have another vote prepared for tomorrow. According to Jim Manley, spokesman for Senate Majority Leader Harry Reid, they have the next two weeks blocked off to deal with financial reform, and are prepared to keep pressing the issue until the GOP caves.

Comments (89) | Join the Conversation!

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April 27, 2010 5:50 PM   

The Dems hold all the cards and everyone knows it. The Republicans have almost no leverage at all and they're just trying to use what little they have to get anything they can get.

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mJJ

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April 28, 2010 1:01 AM    in reply to mans_best_friend

I (along with a bunch of other Republicans) lost a bunch of money on the meltdown. We had good advice on our investments. We did not have a radical get-rich-quick plan but nevertheless we lost a bundle. If Republicans refuse to allow a bill to regulate Wall Street, then I shall re-register as a Democrat. I inow many other Republicans who feel the same way. And as to the Goldman Sacks hearing, I find the Goldman Sachs leadership to be highway robbers and if Republicans refuse to pass regulations that would outlaw that insane behavior, I shall continue to vote for Democrats who seem to care enough about investing individuals to fix the mess. During the wild and wooly GW years, Republicans just stuck their head in the sand and let this crap role as they received so much money from Wall Street. No more will we Republicasns tolerate this behavior from these Republicans. They can just lose all their elections in the future if they keep up this silly threat of a Fillibuster. We tried to send them a message the last election cycle but it seems they just ignore it. They continue to do so at their own peril

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April 28, 2010 9:26 AM    in reply to mJJ

An important yet neglected aspect of this debate is the harm such practices also have on the investor class. When Wall Street executives engage in wild practices, both investors and working people suffer in this nation in which many belong to both groups. In both cases, brokers pillage investors and employees.

All to often, this is presented as a capitalistic problem, but often enough, capitalists, large and small, are the ones deceived by the primadonna executive class, and that is whom the Republicans apparently seek to protect. How incredibly odd.

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April 28, 2010 9:29 AM    in reply to AdAbsurdum

If Republicans really cared about "free markets", they would protect investors instead of executives and brokers. Alas, Republicans suck at even being, of all things, Capitalists.

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April 28, 2010 9:11 AM    in reply to mans_best_friend

I think the most interesting aspect of these "negotiations" is the Dems' refusal to cede important points in the hopes of getting Repub votes until there's some indication that a) they can't get to the floor without making these concessions; and b) the votes of particular Repubs hinges on those concessions.

If that's the case, then the Dems have learned their lesson from HCR, in which repeated concessions were made and they wound up with zero Repub votes anyway.

According to the NYTimes this morning, the key Shelby demand is that the consumer protection board in the Dem bill be severely limited, deleting credit card and other oversight of consumer credit issues. That's why the Repubs want these negotiations behind closed doors: those consumer features are very popular and the public would not doubt be interested to see Repubs argue against them on the record.

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April 27, 2010 5:51 PM   

The Party of Maybe Not, I'll Get Back To You

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April 27, 2010 5:53 PM   

So the Republican message is what? Compromise with us or we'll throw in the towel? Oh yeah, that'll make the Dems quake in their boots.

Actually, given that they're the Dems, I probably shouldn't say that so sarcastically.

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mcc

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April 27, 2010 6:16 PM    in reply to Peter Principle

Certainly doesn't sound like Shelby's going to be in a very strong negotiating position in these talks, if everyone knows that the talks breaking down means Dodd just gets his way on the bill anyway.

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April 27, 2010 6:16 PM    in reply to Peter Principle

I'm hoping Dems have a bit more steel in their spines. They are sitting with as good a hand as they will ever get on a piece of legislation. Now's the time to be raising.

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April 27, 2010 5:53 PM   

Let's play hardball

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April 27, 2010 5:54 PM   

What are they trying to get and who are they trying to get it for? The answer to that is why there position is untenable politically. Yes?

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April 27, 2010 8:26 PM    in reply to donahuesteve

It seems according to a quote from the NYT last night the GOP is worried about bankers and business having to deal with a too strong of a consumer protection law. Exact quote: " They said the bill would give too much power to the new consumer protection bureau." Near the very of end of story is the quote. http://www.nytimes.com/2010/04/27/business/27regulate.html?scp=1&sq=gop%20blocks%20finance%20bill&st=cse

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April 27, 2010 8:42 PM    in reply to pepe

how do you provide a link on your comment?

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April 27, 2010 9:08 PM    in reply to WhatWouldWDo

Left click and highlight the address bar you want to copy or whatever you want to copy. When what you want to copy is blue or highlighted then right click and a box will open, click on copy. Then click on where ever you want to paste it... then right click and a box will open and click on the "paste" option.

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April 28, 2010 12:02 AM    in reply to pepe

Thanks

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April 27, 2010 9:08 PM    in reply to WhatWouldWDo

Highlite the URL in your browser, right click and select copy, move to your comment right click and select paste.

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April 27, 2010 9:10 PM    in reply to expat46

Doh' what he said.

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April 28, 2010 12:04 AM    in reply to expat46

Much appreciated

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slb

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April 28, 2010 1:36 AM    in reply to pepe

Hardball was quoting Ben Nelson as giving consumer protection as the reason he voted with the Republicans. He said something about the consumer protection provisions potentially hurting dentists. Dentists??? Say what??? I would love to know what he was getting at, but they did not elaborate.

At any rate, Nelson's fellow Democrats say that's just a smokescreen, that he was on board until the Dems ditched the carve-out provision that would have given Warren Buffet's firm immunity from compliance with the derivatives regulations.

Good old Ben, more concerned with protecting Warren Buffet than with protecting the little guy.

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April 28, 2010 9:40 AM    in reply to slb

Don't be so hard on Nelson. The Wall St Journal reported yesterday that Nelson holds between $1.5 million and $6 million in Buffett's Hathaway shares. So, contrary to the implications in your post, he does have good reason for being wary of Dodd's bill: it would possibly hurt him financially.

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April 27, 2010 6:01 PM   

Stick to your guns, and keep hitting them with votes, Dems. You're doing good so far!

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April 27, 2010 6:04 PM   

Again, democrats are given a golden goose yet don't know how to use it. What other reason other than to protect the powerful can the opposition have to fight against "consumer financial protections", seriously every dem should be on any show they can get on tonight and putting this out to the public.

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April 27, 2010 8:44 PM    in reply to Ironcomments

Arizona's 'Papers Please' law is sucking all the oxygen out of the MSM.

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April 28, 2010 12:09 AM    in reply to Ironcomments

More time to suck campaign contributions out of Wall Street?

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April 27, 2010 6:05 PM   

The Republicans are in a corner with no way out, and Shelby knows it. Even if he and Dodd produce a back-door, watered-down compromise which will shake loose a few Republican votes for cloture, Dodd and Reid could never bring the bill to the floor with a no-amendments rule. So those water-down provisions would be subject to amendment, and even strengthening amendments would be offered.

So the best Republican strategy is to oppose any cloture vote, hope that their bloc holds, and that the public forgets about the GOP's obstruction come November. Even better, the Republicans will seek to blame Reid's management skills.

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slb

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April 28, 2010 1:40 AM    in reply to BronxInTN

Except that once the bill comes to the floor, then any proposed amendment is also subject to filibuster. That's why the Republicans are trying to cut a deal prior to that point, because once the bill comes to the floor, then they themselves would have to overcome the 60-vote threshold if they wished to amend it.

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April 27, 2010 6:10 PM   

McConnell prefers that the public gets reach-arounds rather than "overreach" when it comes to preventing another potential world-wide economic collapse scenario it seems.

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bvd

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April 27, 2010 6:21 PM    in reply to Lestatdelc

Ewww... the words "McConnell" and "reach-around" should never be used in the same sentence. Blecch.

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April 27, 2010 6:17 PM   

The Democrats had better recall the famous sailing mantra HOLD FAST. Reid should have it tatooed to his goddamned fingers, like that old salt in Master & Commander.

Because there is no way -- no way -- the Republicans are going to go into the fall having rejected a financial reform bill against Shitty Deal Wall Streeters AND immigration reform staring them in the face.

Assuming the Democrats don't jellydick the fall campaign messaging -- and, yeah, that's a big "if" -- Republicans should be scared of the double-barrel argument facing them come autumn.

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April 27, 2010 6:18 PM   

And when they get finished fisting the Republicans on this one, they should lube up again and get on immigration reform, which is a WIN-WIn politically, no matter how Dems slice it.

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bvd

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April 27, 2010 6:23 PM    in reply to LarsThorwald

Jellydick... fisting... lube up... double-barrel in the face. Jeez Lars, you need a long weekend in Thailand.

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April 27, 2010 6:47 PM    in reply to bvd

Don't we all after the last year?

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April 27, 2010 7:53 PM    in reply to Dalinker

God, comments like these are why I keep coming back.

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April 28, 2010 9:28 AM    in reply to bvd

Yeah...I hear they offer very reasonable rates on all the above over there.

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April 27, 2010 6:25 PM    in reply to LarsThorwald

I love the imagery. Rather than lubing up, they should use sand next time.

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April 27, 2010 8:18 PM    in reply to LarsThorwald

"Jellydick"? LOL! At the rate things are going downhill with Arizona's new law, if they ever do get around to Immigration Reform, the Dems will be using 20-grit sandpaper condoms sans the lube.

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April 27, 2010 6:18 PM   

Dems will need two GOP votes as Nelson is a worm.

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April 27, 2010 6:34 PM    in reply to Walter Mitty

Nah, Nelson will be the first Republican to cave!

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April 27, 2010 6:20 PM   

How come House Republicans didn't take a beating for opposing Wall St. reform?

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April 27, 2010 6:28 PM    in reply to DrToast

The HCR debate in the Senate was sucking up all of the media attention at the time. Meanwhile, Speaker Pelosi pushed through Financial Reform and sent it to the Senate.

Today, with HCR in the books as law, there's no pretty, shiny thing to distract the country from Financial Regulatory Reform. Add the Goldman Sach's cluster and anger over "bailouts," and everyone is now paying attention.

And what does the GOP do? Keep voting NO!

It seems that the GOP's "Delay, Weaken, Obfuscate" strategy on HCR is now biting them in the arse.

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April 27, 2010 6:37 PM   

Once again, the lying Republicans (I know, that's redundant)claim they want to cooperate and then lie again and say it's the Democrat's fault. I can't believe they think this is good politics except for the teabaggers; if it wasn't obvious how awful they are during the Health Care Reform debate, surely the country can see it now.

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April 27, 2010 6:41 PM   

PS How old do you think Barney is? 14? Maybe 15?

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April 27, 2010 7:55 PM    in reply to Powkat

Physically, mentally or emotionally? In order, 68, 3 and 11.

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April 27, 2010 9:06 PM    in reply to The Commenter Formerly Known as NCSteve

You beat me to it.

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April 27, 2010 6:41 PM   

Don't forget, this is just round one. They'll have plenty of opportunities to filibuster, even if they lose the initial round. Overcoming this filibuster just means the bill gets to be debated. During that debate, amendments can be filibustered, and, of course, final passage can be filibustered, too.

Sure, it'll be nice to see THEM cave, for once, but it's only a teenytiny cave.

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April 27, 2010 6:47 PM   

OK, but long-term, there is more delay to come. Say the Republicans finally cave, allow debate, lose most of the votes, and there is finally a Senate bill. We'd have a House bill and a Senate bill, and have to go to committee. Reconciliation doesn't work this time, right? So then McConnell can use all his tricks to filibuster the conference committee markup? Frankly, I liked reconciliation better.

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April 27, 2010 7:09 PM    in reply to Roma Victors

On this one, I don't see why the House would have any trouble just passing the Senate bill without further ado.

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April 27, 2010 7:48 PM    in reply to Roma Victors

Even if the ultimate FinRef "Bill" - whatever it contains, has to be hashed out between House and Senate versions, it's still lose-lose for the GOP: they are firmly on the wrong side of public opinion on this issue - and probably know it - and really only have delaying tactics left (in the Senate) to play. Of course, they will: lying, obfuscating, blame-shifting and misdirecting all the way; but in this case, they're backing a losing strategy.

IMO, if I were (G-d forbid) a strategist for Republicans, I would have gone, rather, with a jump-on-the-bandwagon public strategy, try to winkle a few concessions in committee, and appear with the Dems, all smiles to roll out a "compromise" Act - if only to rob the Democrats of a campaign issue.

But, apparently no. Unlike Heath Care Reform, this isn't an issue which can be demagogued to the rubes as a hideous example of ZOMG TotalitariofascistObamamunism!!! - the public has no great reserves of sympathy for Goldman Sachs - but the GOP just can't seem to avoid digging pits for themselves.

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April 27, 2010 9:06 PM    in reply to Jay C

The Republicans can't just go along with the Dems, the teabaggers consider bipartisan agreement to be a sign of weakness.

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April 28, 2010 12:15 AM    in reply to expat46

Having created this mess in the first place, they're only play is to throw sand in the umpires' (voters') faces. They're good at that!

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April 28, 2010 10:55 AM    in reply to Cal Gal

They've also got six months until the election and a bunch of captive journalists to try to swing public opinion their way.

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April 27, 2010 6:52 PM   

"Tuesday night after Republican and Democratic principals found themselves at an impasse over the issue of consumer financial protection."

Come on, Democrats play this to the hilt. If you can't paint this as David versus Goliath than progressives really need to start looking for better leadership. "Consumer protection" what else says we are looking out for main street.

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April 27, 2010 7:09 PM   

Chris Dodd..that paragon of virtue of integrity and honesty..is the face and voice of the Jackassocrats on this issue..

...gee..what could possibly be wrong with that scenario??

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des

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April 27, 2010 7:10 PM   

If the news reports are correct, Sen. Reid intends on following up the financial regulations bill with the climate bill and then immigrationlegislation. Someone, or some "Party" seems to have gotten the Sen. from Nevada's dander up! Finally.
Should the Republicans drag out the finance regulations and THEN do the same on climate legislation, when you add in the time that is going to be spent on less "disruptive" legislation (Defense Appropriations, etc), they have a very good chance of facing the mid-term elections just as their obstruction tactics against immigration reform rev up.
To prevent that timetable from happening, of course, they can stop their partisan delaying tactics and allow the legislation to be voted on, which would allow them to play the "victim" at the polls. Teabaggers, however, don't seem to have much sympathy for anyone in that role except themselves.
In the words of a co-worker: Sweet!

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April 27, 2010 7:32 PM   

The rethugs want it all their way, and it's not going to happen this time, the country is watching them defend wall street over main street and is DISGUSTED.

I certainly hope in January the Dems do AWAY WITH THE FILIBUSTER.

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April 27, 2010 7:45 PM    in reply to suzdav

If I was Joe Biden I'd already be writing the new rules and getting the lube all warm.

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April 27, 2010 7:57 PM   

Amazing how the Republicans suddenly start actingly more like normal Senators instead of a pack of deranged sociopaths when they know they can't win.

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April 27, 2010 8:12 PM    in reply to The Commenter Formerly Known as NCSteve

Fake psychologist too? I like it!

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April 27, 2010 9:24 PM    in reply to truth > spin

Okay, why do you keep hounding the Steve?

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April 27, 2010 11:10 PM    in reply to expat46

A couple weeks ago, Steve berated another commenter and demanded to know where they went to law school, since they had an opinion on the legality of something.

Steve let it be known that he was himself, in fact, a very important lawyer.

Steve then went on to get the facts on the matter EXACTLY wrong, which I pointed out. In reply to me, Steve made a comment about how sad it was he was going to have to do some legal research to prove me wrong and how sad it wasn't that he wouldn't be able to bill for those hours.

Since I knew I was correct and I had provided him iron-clad evidence, I awaited a reply. Or at least an admission that he was wrong. Of course, he's since dropped the issue and moved on to make authoritative seeming assertions about all sorts of other matters.

So I am calling him out on that practice. Mostly I am being tongue-in-cheek, but at the same time the permanence of blog comments and the volume of readership ought to cause anyone who cares about accuracy some concern. Rants are one thing, but assertions about knowing specific information on an issue ought to be called out when they are bullshit.

That's my story. Thanks for asking.

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April 27, 2010 8:11 PM   

Meanwhile, no appointees are approved, no treaties are debated, no judicial nominees get votes. The GOP has the Senate in a knot. I don't know why Reid would negotiate, when he might as well get the strongest, most muscular bill he can produce.

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April 27, 2010 8:20 PM   

"Barney" just closes his eyes and types whatever comes to his mind----and all that comes to his mind (which he then types out) is always a piece of shit.

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April 28, 2010 12:21 AM    in reply to lester

Mind? I don't think that word means what you think it means.

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April 27, 2010 8:32 PM   

Just once, I like to see Democrats string Republicans along with the hopes of bipartisian talks, while secretly having a plan B to ram it down their throats regardless.

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April 27, 2010 8:55 PM   

This is great. The Republicans claim to be all about bipartisan negotiations and a bipartisan bill, but then the issue of "consumer protection" comes up and that's a deal breaker. Can't negotiate anymore. And we'll vote again to not even allow this legislation to be debated before the American people on the floor of the Senate. That's how against strong, effective consumer protection we are. Sounds like a winning strategy, right. And that's why some Republicans will be peeled away. Dodd, Reid and the Dems better not give an inch from here on out.

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April 27, 2010 8:55 PM   

Corker is unhappy because "payday" lenders aren't exempt from the bill.

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April 28, 2010 11:09 AM    in reply to Ethan

Nor should payday lenders be exempt. Payday lending is something we used to court martial soldiers for doing.

The practice was" "OK. I'll lend you $20 now if you'll pay me back $30 on payday in two weeks." That's usury. I know the banks got the usury laws changed to exempt the practice, but it's still usury and it's still immoral.

Rapid refund loans by tax preparers are a similar overpriced scam. It's treating consumers as herd animals to be clipped, shorn and later butchered.

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April 27, 2010 9:01 PM   

If the bill doesn't bear fruit soon, they say. What fruit are they speaking of, exactly? I'm thinking these guys must have missed a memo. When your stock answer is always no, it's easy to get confused.

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April 27, 2010 9:03 PM   

If republicans can't maintain their obstruction, then there's little point to the blackmail money republicans are demanding from the Wall Street corps.

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April 27, 2010 9:29 PM   

Dramatic overreach??? More like locking the barn door after the horse got out

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April 27, 2010 9:44 PM   

(seriously) - Are republicans afraid that if they bring MORE stringent regulation the senate will vote along party lines for the hell of it and their amendments wouldn't pass? I don't see why they need to negotiate it out in advance. Vote in the amendments and tighten it up if that's your intention. Democrats wouldn't obstruct that right? (I mean, we aren't that screwed yet right?) So where's the downside? Totally befuddled.

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April 27, 2010 9:48 PM    in reply to lalaland

The Republicans have gotten so used to playing the obstruction game when in the minority that perhaps they've forgotten how to do things any other way.

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slb

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April 28, 2010 1:53 AM    in reply to lalaland

Depends on what amendments Republicans would want to put in once the legislation went to the floor. If what they try to put in is to water down the legislation, which looks like what they are mostly trying to do, then heck yes, the Democrats would vote it down, or if need be even filibuster it. That's why the only hope the Republicans have of getting their way on things like that is to have it in the bill before it goes to the floor. After that, amendments are subject to filibuster.

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April 28, 2010 11:15 AM    in reply to slb

It isn't just the substance of the legislation. The Repubs are also playing for the election.

No matter what passes, if the Democrats can be made to look feckless and disorganized when they are in the majority, the Republicans believe they can win more votes next November. Policy wonks, with their focus on the substance of legislation, often forget the mass psychology the Repubs are playing to.

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April 27, 2010 9:50 PM   

The Republicans don't need no stinkin' regulations! The S&L crisis with McCain and Keating leading the way, and the 2007 financial meltdown were just normal market corrections. Now move along, nothing to see here.

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April 27, 2010 11:12 PM    in reply to traitorjoe

As you likely know, Joe, the S&L scandals were more a Democrat thing. McCain was brought into the investigation by the Democrats because they wanted to make it seem non-partisan. But McCain was fully vindcated while the other Keating Five were all Dems: Alan Cranston (Democrat of California), Dennis DeConcini (Democrat of Arizona), John Glenn (Democrat of Ohio), and Donald W. Riegle, Jr. (Democrat of Michigan).

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April 28, 2010 12:36 AM    in reply to truth > spin

No, McCain was not fully vindicated. He interceded with the regulators on behalf of a crook who was not only a crony of Cindy's father but who had also provided loads of airline flights and vacations for the POW and his (latest) wife.

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April 28, 2010 2:42 AM    in reply to truth > spin

Um, no, they were not more of "a Democrat thing". At least two of the Bush brothers were involved in S&L deals that don't pass the smell test.

Neil Bush was a director of Silverado Savings and Loan in Denver, which went belly-up in 1988. As director, Neil had been involved in shady back-scratching deals with two of his business associates, voting as director to approve loans to them which were never repaid, and never informing his fellow directors of his own relationship to two men. The OTS later determined that he had engaged in numerous "breaches of his fiduciary duties involving multiple conflicts of interest." He ultimately paid a $50,000 fine as part of a civil suit and was banned from banking activities.

Jeb Bush and his business partner borrowed $4.56 million from Florida's Broward Federal Savings and Loan to use toward the purchase of an office building in Miami. After Broward was declared insolvent, Bush and his partner negotiated a deal with regulators to "cram down" the mortgage balance to $505 thousand, letting them retain their ownership in the building and, in effect, leaving taxpayers on the hook for the $4 million+ difference.

Poppy Bush was involved in pressuring regulators in Texas and Oklahoma to hold off seizing institutions known to be insolvent until after the 1988 election.

And finally, the de-regulation that led to the debacle was introduce by the administration of Ronald Reagan.

Sorry, there are plenty of Republican dirty hands, too.

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April 27, 2010 10:45 PM   

The Repubs never intended on voting for Wall Street Reform in the first place. Just like Healthcare Reform, and the upcoming Immigration Reform. Not while the are 'paid' to protect the interest of the Banks, Insurance Companies and Corporations that hire cheap illegal workers.

However, the move by Reid to force them to vote 'no' on Financial Reform over and over again, helps show even the most illiterate members of the American public who the Repubs are really working for, and who they are screwing.

The Filibuster Rule Must End!

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April 27, 2010 11:32 PM   

It's not what the Republicans say, it's what they do.

Actions speak louder than words.

The Republicans are blocking reform.

The "party of no" won't even allow any debate.

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April 27, 2010 11:51 PM   

The Republicans need to stop delaying and get the debate going - publicly - on the floor of the Senate. It's time to stop the backroom deals, the off-the-record conversations, and the fundraising events with lobbyists.

The time for game playing is over.

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April 28, 2010 12:00 AM   

It doesn't make a whole lot of difference what democrats do on this. Republicans are on the wrong side of the issue and will push it only as far as they dare before caving.

Either that or have the entire country lining up with democrats.

Even then they'll lose some degree of support for delaying or not debating the specifics of the sure to happen legislation.

When November rolls around republicans will be spinning (lying like crazy) to minimize the impact. But I don't see how they can make this into a plus. Democrats will have an easy time with this. Democrats can correctly say that Bush, for eight years, blew up the economy and democrats are merely fixing it. And democrats have mountains of ammo to support that assertion. Too bad the democratic strategy on HCR was focused on bipartisanship. HCR needed a better result and could have easily been achieved.

Unfortunately, where all this leads is to assure congress will give us one bad result after another forever. What might be good for the country will simply be increasingly overshadowed by the hatred between the parties.

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April 28, 2010 12:16 AM   

"Two senators, Democrat Evan Bayh of Indiana and Republican Michael Bennett of Utah, did not vote.

http://www.cbsnews.com/8301-503544_162-20003587-503544.html

Evan Bayh is blocking debate of financial reform.

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April 28, 2010 12:44 AM    in reply to JoeTheMechanic

One last little FU to the Democrats on the way out. What a jerk!

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April 28, 2010 7:15 AM   

The headline should instead read: Financial Reform Talks Near Collapse, Some GOPers Talk About Their FEELINGS!

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April 28, 2010 7:44 AM   

Can someone please explain to me why Collins, Coburn, et al aren't being lambasted for leaving the Goldman Sach hearings where they joined in the accusations against Wall Street only to vote for the filibuster?
Why hasn't the MSM picked up on this hypocrysy. Why haven't the Dem's used this as a talking point?

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April 28, 2010 9:53 AM   

When the GOP caves in by getting nothing, I hope the Democrats kick 'em in the nuts one more time for good measure. Consider it payback for the 18 months of lies and division on health care reform.

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