Harry Reid Stares Down GOP on Wall Street Reform, Plans Repeat Debate Votes

April 27, 2010

(ChattahBox)—Senate Majority Leader Harry Reid (D-NV) wants Wall Street reform for the American people. And to get it, he has decided to stare down obstructionist filibustering Republicans until they cave. Who will blink first?

With public opinion firmly behind the Democrats’ push for a financial overhaul, Harry Reid has scheduled two more cloture votes, on Tuesday and Wednesday. And he will continue to hold votes to allow floor debate on the reform bill, until Republicans break ranks, or a bipartisan deal is reached. Either way, Americans should reap the benefits of a more secure financial system, once Wall Street reform is passed.

On Monday evening, in a 57-41 vote, all Senate Republicans, including blue dog Sen. Ben Nelson (D-NE), voted no on even allowing the Wall Street reform bill to be publicly debated on the Senate floor, preferring backroom deal-making. Reid responded by implementing a series of parliamentary maneuvers, in order to hold additional cloture votes this week. And you can watch the fireworks live on C-SPAN2, or streaming live online.

As previously reported by ChattahBox, Republicans are reverting to delaying tactics in an attempt to kill reform, despite a near collapse of the nation’s economy just 18-months earlier:

“Despite months of bipartisan negotiations, when it came time to vote on the bill, Republicans called for delay, complaining that the process was moving too fast, and called for lawmakers to start over. Sound familiar? Republicans used the same tactics in their campaign to kill healthcare reform. The House already passed a financial reform bill in December. And in the Senate, Chris Dodd (D-CT) Chairman of the Banking Committee toiled for months drafting a bill with Republican input, but the GOP withdrew from the negotiations when Democrats pushed for the measure to come to the floor”

And yesterday, according to The Hill, Sen. Olympia Snowe (R-ME) echoed the tactics of Republicans, complaining that the process was moving too fast. “It’s unfortunate that we’re in a position today to vote I think prematurely when there were discussions underway,” said Snowe. But the only vote scheduled was to move the debate to the senate floor, not an up-or-down on the bill itself.

Sen. Chris Dodd (D-CT), Banking Committee chairman and the sponsor of the bill, took to the floor last night blasting Republicans for refusing to even allow debate on the measure. “What’s the point of having 100 seats here, coming from 50 states, when a major issue affecting our country cannot even be the subject of a debate,” asked Dodd?

Watch it:


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