Harry Reid Charging Ahead On Wall Street Reform

Fresh off their victory on health care, Democrats are pushing ahead with Wall Street reform despite Republican objections, Senate Majority Leader Harry Reid (D-Nev.) said on Thursday.

"We have talked about this enough. We have negotiated this enough," said an assertive Reid during a leadership press briefing. The bill, he said, could come to the floor as early as next week.

He dismissed GOP objections that the bill amounts to a permanent bailout of large banks.

"This is as Orwellian as it gets," Reid said.

Sen. Bob Corker (R-Tenn.), a lead GOP negotiator, insisted that Banking Committee Chairman Chris Dodd (D-Conn.) had given Republicans a commitment prior to a committee vote that changes could be made before it went to the floor.

"There was a commitment made that Sunday night," Corker said. Dodd, however, referred questions about the bill to Reid. And Reid's moving forward.

The strategic question facing Democrats is whether to push forward for a tough bill alone or weaken it to work with Republicans. The White House has become involved in the last several days, urging Democrats not to give in to GOP demands.

Sen. Blanche Lincoln (D-Ark.) is moving forward with tough derivatives reform after public and private pressure applied by the administration. (Asked by HuffPost if the White House had pressured her, she said firmly: "No.")

Corker, meanwhile, said he doesn't think that Democrats will move as fast as they're saying they will. "They won't come to the floor next week," he predicted.

UPDATE: The Hill is reporting that Senate Minority Leader Mitch McConnell (R-Ky.) does not have the votes to block Reid from going to the floor next week, because Sen. Susan Collins (R-Maine) is refusing to sign a letter committing to block any bill the leader puts forward.

On the Senate floor Thursday, Banking Committee Chairman Chris Dodd (D-Conn.) ripped Republicans who did sign the letter, saying they did so for purely political reasons without having read it.

Comments

[tuberider]

01:31 PM on 04/19/2010

GIVE 'EM HELL HARRY!

[Goofy1954]

12:05 PM on 04/18/2010

It sure seems unusual that just before the vote on Health Care the insurance companies decided to raise rates thus helping Obama pass that and just before the financial reform gets ready to go to enate the Goldman news breaks, thus helping Obama possibly get that passed, anyone else see the possibilities of these breaks in news just at the right time being arranged to help once again an agenda that we will not see clearly until to late. Does anyone really think that insurance companies would do something that stupid right before a vote that they did not want. Also why did the Goldman news break now? I am willing to bet that Obama knew about it before and chose this time to let it go public

[hibeam]

10:21 PM on 04/16/2010

Please hurry November so we don't have to see this guy anymore.

[TJCole]

07:50 PM on 04/16/2010

Oh please he guy folds like a broken lawn chair....every time...

[Ron1951]

12:11 PM on 04/16/2010

Go Harry! But make sure that your PR is telling the voters the benefits of this before it even comes to a vote. The public wants this reform, but with McConnell et. al. repeating Fruntzes' talking points in unison, you need to mount a comparable PR campaign to oppose this. We're already seeing TV ads against this, the format the same as the ads they used to stalemate health care reform for so long and so effectively.

[dinglebe]

09:53 AM on 04/16/2010

"Harry Reid charging ahead" means he's taken off his bedroom slippers and put on flip-flops.

[samuellenn]

08:57 AM on 04/16/2010

Why did anyone let Dodd go anywhere near bank regulation?

[Terypat]

07:35 AM on 04/16/2010

Go Harry!

We've got your back!

From,

The Other Ninety-Five Percent

[sistahfriend]

12:03 PM on 04/17/2010

Agree!

[Travis bdboy]

06:52 AM on 04/16/2010

McConnell always looks constipated

[Terypat]

07:36 AM on 04/16/2010

LOLOLOLOL

[farmilyman]

01:07 AM on 04/16/2010

If Reid stops trying to appease the GOP and work for the people, he has a great chance for re-election.

[NevadaLib]

01:08 AM on 04/16/2010

yeah.

[nypapajoe]

01:07 AM on 04/16/2010

The people are behind this bill! The only ones that oppose it are the bankers and the republican politicians on their payrol!

[WordPlaya]

08:07 AM on 04/16/2010

Agreed. Bring it on! Between this and the fact that the RepubNOcans and Teabaggers are now fighting to take away Medicare, Veteran's Benefits, and Social Security (and are proud of this fact) are the final nail in the coffin for the RepubNOcan party. Keep talking your talk RepubNOcans. We love it! Let the "socialist talking points" continue unabated. This fact will become our victory cry for every democrat and liberal for years to come!

Oh and who is going to win the next election did you say? LOL

[liberty68]

12:28 AM on 04/16/2010

Way to go Reid. You have to go after them while they are back on their heels just like in the ring. Don't give them a chance to get up after the Health Care knock down punch they just got. Don't let the bully's off the mat. Finally, a Harry Reid who is acting like the pugilist of the past. GO GET 'EM HARRY.

[cbwHouston]

12:02 AM on 04/16/2010

You give em hell Harry!

[davidgoldmandg]

11:50 PM on 04/15/2010

We support you Reid. Go for it. Don't show any mercy to the fat cats who ruined our country!
Make Em Pay!

[mbinKS]

10:58 PM on 04/15/2010

Not only should each and every one of us support Harry Reid in this push for Fin. Reform, but also we should do what we can to point out what a SHILL for big banks and Wall St. money is Mitch McConnell. Kentucky is really well-served with him AND Bunning. On the other hand, we in Kansas are hardly any better off, with 'Patsy' Roberts and Sam Brownback.

[Weirdwriter]

11:35 PM on 04/15/2010

Send support to: http://reid.senate.gov/
Send scolding to: http://mcconnell.senate.gov/public/