Sunday Shows

The Sunday Show Line-Ups

Eric Kleefeld | June 18, 2010, 4:43PM

Sen. Joe Lieberman (I-CT)

Here are the line-ups for the Sunday talk shows this weekend:

• ABC, This Week: White House Chief of Staff Rahm Emanuel.

• CBS, Face The Nation: Sen. Barbara Boxer (D-CA), Sen. Bill Nelson (D-FL), Sen. Richard Shelby (R-AL), Rep. Joseph Cao (R-LA).

• CNN, State Of The Union: Sen. Richard Lugar (R-IN), Sen. Dianne Feinstein (D-CA), Sen. Joe Lieberman (I-CT).

• Fox News Sunday: Secretary of Defense Robert Gates, Senate Minority Leader Mitch McConnell (R-KY).

• NBC, Meet The Press: Gov. Haley Barbour (R-MS), Sen. Mary Landrieu (D-LA), Rep. Ed Markey (D-MA), former Shell Oil Company president John Hofmeister, Katty Kay of the BBC, TARP Executive Compensation Special Master Ken Feinberg.

Wall Street

Senate Announces Conferees For Financial Reform Negotiations

Jillian Rayfield | May 25, 2010, 11:34AM

Sen. Chris Dodd (D-CT)

Senate Democrats have announced their conferees for financial reform. These senators will meet with their House counterparts in the coming weeks to iron out the differences between each body's financial reform bill.

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Financial Reform

We're Doin' It Live! Republicans Give Thumbs Up To Televised Wall Street Reform Negotiations

Brian Beutler | May 21, 2010, 10:37AM

Sen. Chris Dodd (D-CT) and Rep. Barney Frank (D-MA)

Should the final act of the financial reform fight be televised? If it is, it would make any efforts--whether Republican or Democrat-led--to weaken the final product a heavier lift. And so there will be significant pressure to cut the final deal in as much darkness as possible. But if that's the route legislators decide to go they'll have to walk back from earlier nods toward the importance of transparency

Several weeks ago, House Financial Services Committee Chairman Barney Frank dared Senate Republicans to oppose Wall Street reform, and warned that, after the Senate passed its legislation, any further efforts to weaken the final product would have to be public: a formal conference committee to iron out the differences between the House and Senate bills, even a C-SPAN camera so the whole world could see where each party stood.

Well, last night, the Senate passed its bill, and on Monday the Senate will take formal steps to begin the conference committee process. And in conversation, key Republicans and Democrats last night say they think inviting the cameras along would be just fine.

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Financial Reform

Senate Passes Wall Street Reform Bill

Brian Beutler | May 20, 2010, 8:47PM

Sen. Tom Harkin (D-IA), Senate Majority Leader Harry Reid (D-NV), Sen. Chris Dodd (D-CT), Sen. Max Baucus (D-MT)

By a vote of 59-39 tonight, the Senate passed sweeping legislation to tighten the rules governing the U.S. financial system.

Four Republicans -- Sens. Scott Brown (R-MA), Chuck Grassley (R-IA), Susan Collins (R-ME) and Olympia Snowe (R-ME) -- joined with all but two Democrats, Sens. Maria Cantwell (D-WA) and Russ Feingold (D-WI), who opposed the bill for not being more aggressive in reforming Wall Street. Sens. Robert Byrd (D-WV) and Arlen Specter (D-PA) didn't vote.

In the weeks ahead, House and Senate negotiators will meet in a formal conference committee to iron out the differences between this package, and the broadly similar bill the House adopted late last year. The Senate is expected to name their negotiators on Monday.

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Financial Reform

Democrats Press Swift End To Fight Over Wall Street Reform

Brian Beutler | May 18, 2010, 10:01AM

Senators Mitch McConnell (R-KY) and Harry Reid (D-NV)

Democrats and Republicans may once again be poised for a head-to-head collision over Wall Street reform.

Senate Majority Leader Harry Reid started the clock yesterday, and it is now ticking down toward a key Wednesday test vote, where Democrats will learn whether or not they have assuaged (or intimidated) enough Republicans to break a filibuster.

Leadership wants every Democrat, and at least one Republican on board, but at this late hour it's not clear they have either. Feeling burned by leadership, and dubious that the legislation reaches far enough to truly rein in excess on Wall Street, Sen. Byron Dorgan (D-ND) has threatened to join the filibuster, unless his amendment that would ban trading in naked credit default swaps gets a vote on the floor. Discussions between Dorgan and other leaders continues, but thus they remain at an impasse.

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Sunday Shows

The Sunday Show Line-Ups

Eric Kleefeld | May 7, 2010, 4:20PM

Attorney General Eric Holder

Here are the line-ups for the Sunday talk shows this weekend:

• ABC, This Week: Attorney General Eric Holder, former New York City Mayor Rudy Giuliani (R).

• CBS, Face The Nation: Senior White House counterterrorism adviser John Brennan, Sen. Chris Dodd (D-CT), Sen. Richard Shelby (R-AL), Adm. Thad Allen.

• CNN, State Of The Union: Senior White House counterterrorism adviser John Brennan, Sen. Bill Nelson (D-FL), Sen. Richard Shelby (R-AL).

• Fox News Sunday: Senior White House counterterrorism adviser John Brennan, Sen. Joe Lieberman (I-CT), Rep. Peter King (R-NY).

• NBC, Meet The Press: Attorney General Eric Holder.

Financial Reform

Dodd, Shelby Finalize Too-Big-To-Fail Deal, Potentially Breaking Financial Reform Logjam

Brian Beutler | May 5, 2010, 1:21PM

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

It's been in the works for over a week now, but it's now official. Senate Banking Committee Chairman Chris Dodd and his Republican counterpart Richard Shelby have agreed to final language on a section of financial reform legislation regarding the unwinding of failed firms. The development could speed up progress on financial reform legislation, which had slowed to a crawl as Republicans awaited a final announcement.

The deal does away with a proposed $50 billion fund, raised by assessing a fee on big financial institutions, which would have been used to help liquidate systemically significant, insolvent firms.

That fund, as Dodd said on the floor this afternoon, "was opposed by the Obama Administration."

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Financial Reform

The Republican Duo Behind The Demise Of The Financial Reform Filibuster

Brian Beutler | April 29, 2010, 11:16AM

Sen. George Voinovich (R-OH) and Sen. Susan Collins (R-ME)

The GOP's bid to block debate on Democrats' financial regulatory reform bill ended with a whimper. After a three day standoff--during which they voted repeatedly, and to a number, to sustain their filibuster--the Republicans acknowledged that they'd be unable to extract further concessions behind closed doors, and agreed, unanimously, to allow the bill to come to the floor.

That decision didn't please everybody. In a statement announcing that bipartisan negotiations had reached an impasse, Sen. Richard Shelby (R-AL)--the ranking member on the Banking Committee, and the Republicans' top financial reform negotiator--said that the common ground he'd found with Democrats was "not sufficient to garner my support for moving this bill to the Senate floor." And last night, after a meeting of the GOP caucus, Sen. Tom Coburn (R-OK) told reporters that he planned to vote against proceeding to debate again...but he never got the chance.

So who was pushing for the filibuster to end--and why?

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Financial Reform

Bowing To Internal Pressure, GOP Allows Debate On Financial Reform

Brian Beutler | April 28, 2010, 7:12PM

Senate Majority Leader Harry Reid (D-NV) with Sens. Dick Durbin (D-IL) and Charles Schumer (D-NY)

Without a single objection, Republicans tonight dropped their three day filibuster of financial reform legislation, agreeing unanimously to debate the Democrats' bill on the Senate floor.

Though clearly a big defeat for the Republicans, their line tonight is that they endured this week's political maelstrom for a substantive reason: to allow Sen. Richard Shelby (R-AL) to extract as many concessions out of Banking Committee Chairman Chris Dodd as he could. When Dodd said no more, they relented. Of course, bipartisan talks have broken down several times before, without Republicans relenting, and if you scratch below the surface, you find that the GOP's calculation was rooted more in an understanding that the caucus didn't have an appetite for endless obstruction this time around.

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Financial Reform

Republicans Relent, Will Let Debate Begin

Rachel Slajda | April 28, 2010, 3:56PM

Sen. Mitch McConnell (R-KY)

Senate Republicans announced this afternoon that they will allow financial reform legislation onto the chamber floor for a debate after bipartisan talks hit an impasse.

Sen. Richard Shelby (R-AL), ranking member of the Senate Banking Committee who has been in bipartisan negotiations with chairman Chris Dodd, released a statement announcing talks could go no further.

"We have been unable, however, to make any meaningful progress on other important components of the legislation. It is now my belief that further negotiations will not produce additional results," Shelby wrote.

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Financial Reform

Pounce! Dems To Keep Senate Open All Night To Force GOP Hand On Financial Reform

Brian Beutler | April 28, 2010, 1:26PM

Senate Finance Chairman Max Baucus, D-Mont., Senate Majority Leader Harry Reid, D-Nev., and Sen. Charles E. Schumer, D-N.Y.

Frustrated by an ongoing campaign by the GOP to block debate on financial reform legislation, Democrats plan to hold the Senate floor open all night, potentially holding repeated votes to break the filibuster, or forcing Republicans to publicly object to debating their bill. But the move comes just as Republicans appear closer than ever to throwing in the towel.

"The voting is up to the Majority Leader, how often they vote," Senate Majority Whip Dick Durbin told reporters after Republicans, for the third straight day, voted in lockstep to prevent debate on the Democrats' bill. "Staying in session? Making unanimous consent requests? Those things are all options.... Votes may be recurring regularly."

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Financial Reform

Prelude To A Cave: McConnell Says GOP Financial Reform Filibuster Was 'Very Useful Exercise'

Brian Beutler | April 28, 2010, 10:13AM

Senate Minority Leader Mitch McConnell (R-KY)

All week, Senate Republicans have been blocking a floor debate on the Democrats' financial regulatory reform legislation, holding out, they say, for a comprehensive bipartisan agreement between Senate Banking Committee Chairman Chris Dodd, and his counterpart Richard Shelby. Now that both sides acknowledge that a grand deal is not in the offing, Republicans are inching toward breaking their filibuster. This morning on the Senate floor, Minority Leader Mitch McConnell, sounding resigned to the fact that the Democrats outlasted him, dropped all talk of allowing negotiations to continue, and turned his attention to measures in the Democrats' bill he wants to see fixed.

"[T]his has been a very useful exercise," McConnell said. "By giving people time to actually look at this bill and study the details for themselves, we've enabled them to assess not only the potential impact of the actual text of the bill itself, but also some of the unintended consequences it could have."

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Financial Reform

Dodd Optimistic That GOP Will Drop Filibuster Of Financial Reform

Brian Beutler | April 27, 2010, 7:37PM

Sen. Chris Dodd (D-CT).

Emerging tonight from a meeting with his Republican counterpart Sen. Richard Shelby (R-AL), Senate Banking Committee Chairman Chris Dodd (D-CT) put a diplomatic face on what appears to be a significant victory for him and his party. Tonight, Republicans acknowledged that they are likely to debate Dodd's financial regulatory reform bill, breaking their filibuster, even as Democrats and Republicans remain at odds over key aspects of the legislation.

Without going into great detail, Dodd trumpeted the fact that he and Shelby have largely come to an understanding over one major aspect of the legislation--how to unwind large, failed financial institutions--and said he believes that will be enough to move the bill forward, despite continuing disagreement over other key sections.

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Financial Reform

Financial Reform Talks Near Collapse, Some GOPers Threaten To Defect

Brian Beutler | April 27, 2010, 5:41PM

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

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.

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Financial Reform

After Weeks Of Negotiating, Republicans Block Debate On Financial Reform Bill

Brian Beutler | April 26, 2010, 6:06PM

From left: Sen. Jon Kyl (R-AZ), Sen. John Cornyn (R-TX), Sen. Mitch McConnell, (R-KY), Sen. John Ensign (R-NV), Sen. John Thune (R-SD), and Sen. Lamar Alexander (R-TN)

Senate Republicans followed through on their threat today to block debate on a financial regulatory reform bill authored by Sen. Chris Dodd (D-CT). The final tally on the vote to break the filibuster was 57 to 41, with Sen. Ben Nelson (D-NE) joining the Republicans, but failed to meet the 60 vote threshold required to end debate and bring the bill to the Senate floor. (Majority Leader Harry Reid also voted no -- a procedural move he had to make in order to hold a swift revote.)

The move ratchets up a political food fight between Democrats and Republicans, with Dems on the offense, charging that the GOP's decision to block progress on the legislation puts them on the side of Wall Street.

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Financial Reform

Why The Financial Reform Impasse Is Different From Health Care Gridlock

Brian Beutler | April 26, 2010, 12:02PM

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

At a superficial level, the impasse over financial reform looks an awful lot like the early days of the health care fight, with Republicans and Democrats meeting privately to reach an elusive, perhaps impossible compromise. And we all remember how that story ended. But peer closely and the two stories are different in so many ways, politically and philosophically, that it's hard to imagine this turns into health care redux.

Perhaps the most important distinction is the politics. Republicans just don't want to go down killing Wall Street reform legislation. That's why they've softened their tone, and that's why they say they're confident they'll ultimately be able to vote for a bill. No doubt they don't mind a bit of delay--every day spent negotiating is another day the Senate doesn't address climate change, immigration, the coming Supreme Court nomination and on and on. But they can't keep up a weeks-long ruse that they're negotiating in good faith, when in fact they aren't, like they did on health care.

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Financial Reform

Shelby: We Won't Get A Deal Today (VIDEO)

Rachel Slajda | April 26, 2010, 9:57AM

Sen. Richard Shelby (R-AL)

Sen. Richard Shelby (R-AL), the ranking member of the banking committee and lead Republican in financial reform negotiations, predicted this morning that he and Sen. Chris Dodd (D-CT) won't reach a bipartisan deal before today's procedural vote.

"I don't believe we'll have a deal today, George," he said on Good Morning America.

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Financial Reform

Five Surprises To Watch For Before Tonight's Key Test Vote On Financial Reform

Brian Beutler | April 26, 2010, 9:54AM

Senators Mitch McConnell (R-KY) and Harry Reid (D-NV)

In just a few hours, Senate Republicans will be put to the test. Both they and leading Democrats say they're a hair away from reaching a bipartisan framework on financial regulatory reform, yet Republicans have decided to block Democrats from bringing the issue to the Senate floor. In response--and because it makes for great politics--Democrats will try to break that filibuster at 5 pm tonight. Even if they fail, they reason, they succeed at painting Republicans with a pro-Wall Street brush.

So what various twists and turns might this story takes as that pivotal moment approaches? Here are a few to be on the look out for:

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Financial Reform

No Deal Yet But Dems And GOP Sound Hopeful On Sunday Shows

Christina Bellantoni | April 25, 2010, 11:12AM

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

Despite round-the-clock talks between Sen. Chris Dodd and Sen. Richard Shelby there's no bipartisan deal on financial regulatory reform, but leaders on both sides said Sunday they are hopeful they can come together.

In a sharp contrast from the rancorous tone on last week's Sunday shows, Republicans and Democrats alike said today there is good momentum to agree on legislation soon, even though everyone agreed they aren't there "yet."

"It might be later this week, it might be next week, but the main thing is to get a good bill," Shelby (R-AL), the ranking member of the Banking Committee, said today on NBC's "Meet the Press." Shelby and Dodd made a rare joint appearance on the show, a move that Capitol Hill aides thought would lead to the announcement of a final agreement allowing the Senate to move forward Monday as planned.

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Sunday Shows

The Sunday Show Line-Ups

Eric Kleefeld | April 23, 2010, 3:29PM

Austan Goolsbee, Chief Economist on the Economic Recovery Advisory Board

Here are the line-ups for the Sunday talk shows this weekend:

• ABC, This Week: White House Economic Adviser Austan Goolsbee, Sen. Sherrod Brown (D-OH), Sen. Bob Corker (R-TN).

• CBS, Face The Nation: National Economic Council Director Lawrence Summers.

• CNN, State Of The Union: Gov. Jennifer Granholm (D-MI), Sen. Saxby Chambliss (R-GA), Sen. Bob Menendez (D-NJ).

• Fox News Sunday: National Commission on Fiscal Responsibility and Reform Co-Chairs Alan Simpson and Erskine Bowles.

• NBC, Meet The Press: Sen. Chris Dodd (D-CT), Sen. Richard Shelby (R-AL).

Financial Reform

Shelby And Dodd Work Against The Clock On Financial Reform Deal

Brian Beutler | April 23, 2010, 2:14PM

Sen. Chris Dodd (D-CT) and Sen. Richard Shelby (R-AL)

We've reached a fork in the road. Sens. Chris Dodd (D-CT) and Richard Shelby (R-AL) will be working through the weekend to reach a deal on financial regulatory reform. Dodd, ever hopeful, says a breakthrough is quite possible. Shelby? Not so much.

If Dodd's suspicions bear out, the political endgame is pretty clear: The two will announce an agreement, Dodd's reform bill will be brought to the Senate floor Monday with overwhelming support, and for the next several days, or even a couple weeks, members will debate it, vote on amendments, and, ultimately, pass a final bill.

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Financial Reform

Why The GOP Suddenly Let Up On Financial Reform

Brian Beutler and Christina Bellantoni | April 21, 2010, 3:18PM

Sen. Chris Dodd (D-CT), Sen. Bob Corker (R-TN), and Sen. Richard Shelby (R-AL)

Within 48 hours, the Republican line on financial regulatory reform went from "filibuster" to "we're very close to a deal." Why the shift? Republicans and Democrats will offer up spin all day, chalking up the progress to their own doggedness, but in the end it comes down to a simple reality. Key Republicans, sincere about passing new rules for Wall Street, but intimidated by the notion of blocking financial regulatory reform, let it be known to their leadership that, at some point, they would side with Democrats to break a filibuster. Maybe not on round one, or even round two. But eventually.

"Folks on our side of the aisle want a bill," Sen. Bob Corker (R-TN) told TPMDC and a few other reporters Monday night. "I know that. I just [had a] discussion with some of our leadership on the floor. You know, we want a bill."

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Financial Reform

Shelby Says Deal Is Close, Will Get 'Substantial' GOP Support

Rachel Slajda | April 21, 2010, 12:47PM

Sen. Richard Shelby (R-AL)

Sen. Richard Shelby (R-AL), the ranking member of the Senate Budget Committee who's been in financial reform talks with chairman Chris Dodd, tells TPMDC's Brian Beutler that an agreement is close at hand.

"We're very close to a deal and there will be a substantial number of Republicans that go along with it," Shelby said.

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Financial Reform

McConnell Softens, Says Agreement On Financial Reform Within Reach

Brian Beutler | April 20, 2010, 2:53PM

Senate Minority Leader Mitch McConnell (R-KY)

Senate Minority Leader Mitch McConnell struck a markedly different tone on financial regulatory reform today, suggesting an agreement could be struck with Democrats sooner rather than later. And Democrats have taken notice.

"We believe the process to achieve [a bipartisan bill] has now been reconstituted," McConnell told reporters after the Republicans' weekly caucus meeting this afternoon. "We are all confident that this can be fixed... Senator Shelby [the Republicans' chief financial reform negotiator] believes that there's been a very serious effort to re-engage."

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Financial Reform

Dems Dig For GOP Votes Ahead Of Key Financial Reform Vote

Brian Beutler | April 19, 2010, 7:43PM

Senator Chris Dodd (D-CT), Senator Harry Reid (D-NV), Senator Max Baucus (D-MT)

The fate of financial reform in the Senate remains very much in flux tonight, with Democrats facing the stark reality that Senate Minority Leader Mitch McConnell has once again managed to unite his caucus in opposition to the Dems' top legislative initiaive. But Democrats remain determined to bring their bill up for a key test vote as early as Monday, and have statements from a number of Republican senators to point to as evidence that they will prevail sooner rather than later.

Is it the same Lucy and Charlie Brown routine again?

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Financial Reform

Republicans And Democrats Dig In For Bruising Fight Over Wall Street Reform

Brian Beutler | April 16, 2010, 3:44PM

Sen. Mitch McConnell (R-KY) and Sen. Chris Dodd (D-CT)

It's shaping up to be a clash of the titans.

On the one hand, Senate Democrats aren't stepping back an inch from their pledge to move ahead with financial regulatory reform, with or without Republicans, by the end of next week. In fact, just today, President Obama threatened to veto a final bill if it's weakened too much during the legislative process.

But on the other hand, Republicans have coalesced around a strategy of uniform opposition to the Democrats' draft legislation authored by Senate Banking Committee Chairman Chris Dodd.

So we're at an impasse.

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Financial Reform

Head On Collision: Republicans Threaten To Block Debate On Financial Reform

Brian Beutler | April 15, 2010, 7:18PM

Sen. Mitch McConnell (R-KY)

The game of chicken over the Senate's financial regulatory reform bill may end in a dramatic collision, with the moment of impact fast approaching and neither Republicans nor Democrats prepared to yield.

Democrats have promised to put the legislation--authored by Senate Banking Committee Chairman Chris Dodd--to a key test vote, whether or not Republicans are happy with the proposal itself, or feel they've had enough input in its construction. That puts Republicans in a tricky position: either they take a politically risky vote and block debate on a Wall Street reform bill, or they cede the upper hand to Democrats. But political risk or no, the GOP is gearing up for full bore opposition--and that would leave Democrats shy of the votes they need to put the bill on the floor.

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Financial Reform

Make Our Day! Democrats Giddy Over GOP Opposition To Financial Reform

Brian Beutler | April 15, 2010, 10:58AM

Sen. Chris Dodd (D-CT)

About a week or two. That's how long Republicans have to decide how they ultimately want to play their hand on financial regulatory reform. According to numerous Democratic aides and key senators, the GOP will either have to join forces with Democrats on a bill that hews very much to the White House's demands, or they'll have to do their best to block a bill that enjoys wide popularity. But as much as Democrats want to change the rules that govern Wall Street quickly and smoothly, they also love the politics of moving the bill forward without GOP support and letting Republicans publicly justify their decision to protect hated financial institutions from the regulations they oppose.

"We are ready to go forward. The bill's ready...if I have to go it alone, I'll go it alone.... I'm ready to go to the floor tomorrow if they want." said Senate Banking Committee Chairman Chris Dodd last night, after a brief meeting with his counterpart, Sen. Richard Shelby (R-AL).

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Financial Reform

Game Of Chicken: Democrats And Republicans Square Off Over Regulating Wall Street (VIDEO)

Brian Beutler | April 14, 2010, 1:11PM

Clockwise, from top left: Sen. Chris Dodd (D-CT), Sen. Richard Shelby (R-AL), Senate Minority Leader Mitch McConnell (R-KY), and Sen. Blanche Lincoln (D-AR)

Senate Democrats, guided by the White House, wasted little time responding to Republican opposition to their financial regulatory reform proposal. A day after GOP came out swinging against a bill authored by Senate Banking Committee Chairman Chris Dodd, Democrats had a simple message for the minority: your time is running out. This touches off a game of chicken over the first big issue Congress will address after health care reform. And the question of whether the two parties can reach agreement over a growing number of disagreements remains in serious doubt.

This morning, Dodd took the the Senate floor to sound the warning to the GOP. "My patience is running out," he bellowed after issuing a withering critique of Republican leaders for grounding their opposition to his reform bill in a political strategy memo authored by conservative strategist Frank Luntz. Dodd has been negotiating with his counterpart, Sen. Richard Shelby (R-AL), but those talks may not last much longer.

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Financial Reform

Republicans: Lack Of GOP Support For Wall Street Reform Bill Is Obama's Fault

Brian Beutler | April 13, 2010, 3:37PM

Senate Minority Leader Mitch McConnell (R-KY)

Republicans--including moderates--are solidifying opposition to Democratic efforts to impose stricter regulations on Wall Street. They aren't just attacking the Democrats' financial regulatory reform bill as a vehicle that will lead to more bailouts. They're also laying the blame for the lack of GOP support for reform directly at President Obama's feet. And all the while, Republican leaders are seeking donations from major financial institutions ahead of the 2010 midterm elections.

"Right now the administration is saying 'no' to some common sense type of reforms that would strengthen financial services regulations and not affect small businesses in a negative way and allow for us to get a handle on the real problems in that industry," said Sen. Scott Brown (R-MA), thought by many to be a potential swing vote on Wall Street reform. "Shame on the President."

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Financial Reform

Next Up: Financial Reform -- And Dems Think The GOP Is On Board

Christina Bellantoni | April 9, 2010, 9:48AM

Sen. Chris Dodd (D-CT), President Barack Obama, and Rep. Barney Frank (D-MA)

The Obama administration is aiming for spring passage of financial regulatory reform legislation, and despite the partisan nature of the last big domestic policy push of health care reform, officials believe they will be able to attract Republicans.

Treasury Department officials and Congressional Democrats putting the finishing touches on legislation the Senate will consider in the coming weeks stressed in briefings and interviews that Republican ideas are peppered throughout the legislation and should attract wide support.

Neal Wolin, Deputy Secretary of the Treasury, told reporters in a briefing at the White House this week that outside groups are focusing too much on the differences between the Senate proposal and what passed the House last year, and on any split between the Republicans and Democrats. He said the administration is looking that the wide areas where there is strong agreement, and stressed that Banking Committee Chairman Sen. Chris Dodd (D-CT) included many Republican ideas in the bill by working with Sen. Richard Shelby (R-AL). (Sen. Bob Corker (R-TN) has said financial reform is an issue "every American" wants to see passed.)

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Chris Dodd

Breakthrough Or Smoke Screen--What's Behind Shelby's Latest Move On Wall Street Reform?

Brian Beutler | April 5, 2010, 4:25PM

Sen. Chris Dodd (D-CT) and Sen. Richard Shelby (R-AL)

Sen. Richard Shelby (R-AL), the GOP's top negotiator on financial regulation, has approached his counterpart, Senate Banking Committee Chairman Chris Dodd, with a compromise proposal on one of the most contentious issues in the debate over imposing new rules on Wall Street: the consumer financial protection bureau.

Shelby's offer is said to be very similar to the independent entity Dodd proposed in the initial draft of his regulatory reform legislation, and, on the merits, of great interest to Dodd himself, who has been seeking GOP support for a comprehensive overhaul for several months.

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Financial Reform

Don't Make The Same Mistake Twice: The One Way Dems' Health Care Win Might Help Pass Financial Reform

Brian Beutler | March 30, 2010, 1:33PM

Sen. Chris Dodd (D-CT)

In the wake of the passage of health care reform, Senate Republicans say that they're less willing to work with Democrats than they were in the past--if such a thing is even possible. But at the same time, multiple key GOP senators say they're certain one major initiative--financial regulatory reform--will pass the Senate this year.

"I think it's going to be very, very difficult -- very difficult -- to get 41 members [to sustain a filibuster]," Sen. Bob Corker (R-TN) said in a speech last week.

Sen. Judd Gregg (R-NH), who was tapped to serve as a Republican negotiator in an early round of the regulatory reform debate, told reporters last week he was "100 percent" certain that a major bill would pass this year.

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Richard Shelby

Richard Shelby Drops Blanket Holds, Says They Were A Success

Evan McMorris-Santoro | February 9, 2010, 9:42AM

Sen. Richard Shelby (R-AL)

Sen. Richard Shelby (R-AL) has dropped all but a handful of the 70-plus holds he placed on President Obama's nominees last week. Shelby's office told TPMDC today that the goal of the blanket holds had succeeded three days after it was reported and roundly attacked by Democrats and the White House.

"The purpose of placing numerous holds was to get the White House's attention was to get the White House's attention on two issues that are critical to our national security," Shelby spokesperson Jonathan Graffeo said in a statement, referring to two programs that would sent billions in taxpayer funds to Alabama. Shelby will continue his hold on several Air Force and Pentagon nominees.

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Blanket holds

Dems Slam Shelby Blanket Hold: 'There Are Empty Chairs At The Pentagon' (VIDEO)

Christina Bellantoni | February 5, 2010, 4:43PM

The Democratic National Committee has pulled together a new Web ad going after Sen. Richard Shelby's blanket hold on President Obama's nominees, saying that Republicans are holding national security hostage.

Top DNC operatives tell TPMDC they are considering some television ad concepts and want to really press the point that Republicans should pay the price for holding up nominees in the Defense Department and Homeland Security.

"We are going to make sure they pay it," the operative said.

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Richard Shelby

White House Uses Official Blog To Lash Out At Shelby

Rachel Slajda | February 5, 2010, 2:07PM

Sen. Richard Shelby (R-AL) and President Obama

The administration today used the official White House blog to lash out at Sen. Richard Shelby (R-AL), who, as we reported today, has put a hold on President Obama's nominations in order to get two big projects done in his home state.

"This is just the latest example of this kind opposition for opposition's sake that the President talked about earlier this week," wrote White House Communications Director Dan Pfeiffer. "This strategy of obstruction is preventing qualified people from doing their jobs on behalf of the American people and it's preventing real work from getting done in Washington."

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Harry Reid

Dems Decry Shelby's Senate Hostage-Taking--But Did They Do The Same?

Brian Beutler | February 5, 2010, 1:49PM

Sen. Richard Shelby (R-AL) and President Obama

Sen. Richard Shelby (R-AL) has decided to place a hold on all pending executive branch nominees, and that has all of Washington asking: Who does such a thing?

A Senate leadership aide even says: "I am not aware of that ever happening."

But it has happened. And perhaps the most recent perpetrator was none other than Harry Reid, before he became Senate Majority Leader.

"Sen. Harry Reid, D-Nev., is increasing pressure to have one of his aides confirmed to a top post at the federal agency that will decide the Yucca Mountain Project," reads a June 2004 article in the Las Vegas Review Journal.

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Mitch McConnell

McConnell's Office Questions Shelby Story, Then Kicks 'Hold' Questions Back To Him

Christina Bellantoni | February 5, 2010, 11:25AM

Senate Minority Leader Mitch McConnell (R-KY).

Given all the accusations of Senate Republican obstructionism, we checked in with Senate Minority Leader Mitch McConnell about Sen. Richard Shelby's blanket holds on President Obama's nominees.

A McConnell spokesman at first questioned the legitimacy of the Shelby story, asking if the Alabama senator had confirmed the holds.

When told about Shelby's statement detailing why he's holding the nominees, the spokesman then declined to comment.

"Sen. Shelby's office will comment on his holds," the spokesman said.

The White House is not amused.