GOP Caves on Finance Bill Debate

Posted by TomCat at 2:12 am Politics

Apr 292010

I was pleased, an pleasantly surprised to see Harry Reid show enough spine to actually make the GOP pay a political price for selling Main Street short in favor of their Wall Street Cronies.

Senate Republicans agreed Wednesday to drop their three-day effort to block debate on historic legislation to overhaul the nation’s financial regulatory system after efforts to craft a bipartisan agreement ended with Republicans winning few concessions.

There was no formal vote on the move to begin debate, which was agreed to when Majority Leader Harry Reid of Nevada late Wednesday asked for unanimous consent of the Senate and there was no objection. The Senate had failed on three earlier efforts to begin debate in the face of unanimous Republican objection.

The Senate should take about a month to work through the legislation, and if it passes, it will have to be reconciled with a different version that the House of Representatives passed last year. Then each chamber must pass identical versions before President Barack Obama could sign it into law, which is unlikely before July.

Senate Banking Committee Chairman Christopher Dodd, D-Conn., promised a Senate debate that would allow time for all points of view. “It is time for debate to begin,” he said, “and it must be a serious, vigorous debate.”…

Inserted from <McClatchy DC>

Rachel Maddow has a pointed and humorous explanation:

Visit msnbc.com for breaking news, world news, and news about the economy

One thing is clear. All the caving-in Reid and Senate Democrats have done in the last eighteen months has been a waste of time and effort.

2 Responses to “GOP Caves on Finance Bill Debate”

Lisa G. says:

April 29, 2010 at 9:38 am

Why are the Repubs against cots? Are they too uppity to sleep on cots? What have cots ever done to them? I say they are racist against cots.
- TomCat says:
  
  April 29, 2010 at 11:29 am
  
  Hurrah! Equal rights for cots!! 😉

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