Reid Bringing Wall Street Reform To Senate Floor

Sen. Harry Reid (D-Nev.) will file cloture on the Wall Street reform report on Tuesday, paving the way for a final vote later this week. On the Senate floor Tuesday morning, Reid said he "expect[s] to consider the Wall Street reform conference report sometime later today."

Reid spokesman Jim Manley said that the majority leader intends to file cloture, not bring the bill to a floor vote, which would require the consent of all senators.

On Monday, Sen. Scott Brown (R-Mass.) announced he'd support the bill, apparently giving Democrats the 60 votes they'd need, along with a replacement for the late Robert Byrd, expected later this week or early next. Sen. Ben Nelson (D-Neb.) threw a wrench in the works hours later, telling reporters he was undecided on the bill. Sen. Olympia Snowe (R-Maine) pulled the wrench back out of the works roughly an hour later, putting out a statement in support.

Given Snowe's support, Democrats have several ways to get to 60: Either Byrd's replacement arrives; Nelson announces support, a near certainty; Sen. Susan Collins (R-Maine) backs the bill, or Sen. Charles Grassley (R-Iowa) comes out for it. Collins, Nelson and Grassley all supported the final passage in the Senate. The final conference report, said Nelson, only includes "slight modifications," which he is studying nonetheless.

UPDATE: An aide to Nelson tells HuffPost that the Nebraska senator will vote yes, giving Democrats the 60 needed to break a filibuster. A vote can't come until Thursday, given Senate cloture rules, but, effectively, it's over.

Comments

[Marie Russell-Barker]

09:31 PM on 07/13/2010

Oh Ben there is more than one way to pluck a goose, you just wanted to be seen but come election time that is when your constituency will stand up and take notice, remember Blanch Lincoln, how fare do you sit from her, psst psst, you should have that talk with her now!

[BKFactor]

04:58 PM on 07/13/2010

Did anyone see the Maine Republican Party Mission and Platform? Some parts of it are really scary.

Parts of it:
"Healthcare is not a right ... it's a service?"

"Oppose “Localism and Diversity”, the Fairness Doctrine or whatever ..."

And why are Maine Republicans and all Republicans so worked up about ACORN (poor people)? The Maine Repub platform says: "Prohibit any public funding of advocacy groups such as ACORN, no matter what it or its affiliate organizations rename themselves; New York Communities for Change, New England United for Justice etc.; Conduct thorough investigation of their activities and voter fraud and prosecute violations."

As far as I know, the only party who consistently engages in voter fraud is the Republican Party.
http://www.timesonline.co.uk/tol/news/world/us_and_americas/us_elections/article4992730.ece
http://www.cbsnews.com/stories/2004/10/14/politics/main649380.shtml
http://www.dailykos.com/story/2004/10/31/192155/73

My mother (who lives in New York state) received a fake absentee ballot (in 2008) that called Barack Obama .. Barack Husein Osama.

The Republican Party needs to whither up and go away.

[BKFactor]

05:01 PM on 07/13/2010

Forgot to give you the page where the mission and platform statement is:
http://www.mainegop.com/PlatformMission.aspx

[Duppy]

04:39 PM on 07/13/2010

Go Harry. Your rock !

[lastep]

02:54 PM on 07/13/2010

lets hope this is better than the bank reform Clinton signed.

[dianhow]

06:19 PM on 07/13/2010

Its not prefect but better than Regan Bush Cheeny ever gave us
Medicare improved over time Be smart do not over react to headlines
that are meant to grab our attention - and make ads dollars for corp news media

[lastep]

08:35 PM on 07/13/2010

Bill Clinton signed not only the Glass Steigal act but also NAFTA. Fact.

[Countess]

02:50 PM on 07/13/2010

This is a real win for these Northeastern republican senators because they can say they voted for reform knowing full well it is practially worthless anyway which is why they support it.

[priscianusjr]

04:39 PM on 07/13/2010

True, there are some crucial things it does not do, but it is overkill to call it "practically worthless." It has a lot of good features.

[hrpmap]

04:46 PM on 07/13/2010

So why do the dems support it??

[novo organon]

02:31 PM on 07/13/2010

Class Conscious Narcissism and obsession with Caste Systems. They all came here years ago because their Parents, Grandparents, etc., were serfs in their native countries, who loved and hated the aristocracy, only to see their children succeed and turn into obstinate and snobbish arses. The fing IRONY !

[dianhow]

06:26 PM on 07/13/2010

novo all true but GOP toxic wealthy favring policies- long OIL wars -cuts- huge debt- fear tactics - shaped this' reality' So we have the ultimate power
THE VOTE SO USE IT WISELY NEXT TIME FOLKS

[saudmd]

02:29 PM on 07/13/2010

Both sides are corrupt to the core..financial reform? You call that bill financial reform? Are you smoking pot? Dodd and Frank are beyond corrupt here..Watch Dylan Ratigan,he'll speak the truth...Quit the Dem vs Repub and get your head out of your A**! The only reform this bill does is protect the big banks to continue there Vegas gaming with TAXPAYERS money..Where is derivative reform or regulation?....Read the bill..All this partisan crap does is keep folks divided and keep the same political whores in power.....

[The Power To Unelect]

02:32 PM on 07/13/2010

Fanned...

Always great to read those who can think for themselves

Keep speaking out.

[TJwineman]

03:26 PM on 07/13/2010

Well said

[MarsAmbassador]

02:19 PM on 07/13/2010

Let them filibuster, see if I care! Why are they so hung up on 60 votes? 51 is a majority! Let them read cookbooks for 3 weeks straight, let the American public see how much they don't care about them, let the American public see who owns these conservatives, let the American public realize who is throwing them to the wolves again and again and again and again and let the American public see which ideology actually CARES about them, actually cares about WE THE PEOPLE before the corporations. BY THE PEOPLE FOR THE PEOPLE! NOT BY THE PEOPLE FOR THE CORPORATIONS! BOTTOM UP, NOT TRICKLE DOWN!

Read this article and I will guarantee you see the economic collapse in a new light:
http://www.alternet.org/economy/147469/we're_in_a_recession_because_the_rich_are_raking_in_an_absurd_portion_of_the_wealth/

Then look at this graph:
http://sg.wsj.net/public/resources/images/OB-BJ505_ROI_Sa_20080501170150.gif

And then listen to George Carlin explain it all to you in just a couple of minutes:
http://www.youtube.com/watch?v=hYIC0eZYEtI&feature=related
http://www.youtube.com/watch?v=Cr7ePrCAqzo&feature=related

[The Power To Unelect]

02:11 PM on 07/13/2010

This is NOT wall street reform.

This is FAKE wall street reform.

Both the Democrats and Republicans have been corrupted to the core.

[Barnicle23]

02:20 PM on 07/13/2010

Would you rathe they didn't do anything at all? Not even write any legislation?If your unhappy with the way your Rep or Sen voted, or if they didn't put forth any ideas that you agree with, then vote against them and try to convince other voters to do the same through an honest, reasoned political discussion.

[The Power To Unelect]

02:36 PM on 07/13/2010

Fake reform and doing nothing IS the same thing.

[giatny]

02:09 PM on 07/13/2010

The practices that got us into the mess were created in D.C. Bad laws, corrupt
and clueless congressmen, and over 121 regulators who failed simultaneously and serially. Expecting the same bunch to stabilize the financial system with more regulators guarantees only that millions of trees with be lost to the paperwork. As liberals continue to demean corporations and Wall St., I feel obligated to remind them that businesses, not government, create the wealth liberals so envy. I also suggest
they study the economies of the countries where government is in charge and
pretends to "equalize" results. Venezuela just had to takeover the food supply
because of shortages and then followed up by confiscating 11 American oil rigs.
If the earnings of financial companies decrease by 10-20%, the money they didn't
earn won't be handed out to others, it just won't exist. I don't see why reducing
GDP and revenues to New York helps anyone. Simply setting and enforcing appropriate margin and capital rules could have knocked out 2000 of the pages
and still left 319 pages for derivatives and consumer protection. Washington is out
of control with power and is clearly the least qualified to be in charge of finance.
Our national debt approaches $14 trillion. How could anyone think that crowd
will make us safer?

[treadway123]

02:09 PM on 07/13/2010

I have no hope that Neb. Ben Nelsen will do the right thing! However, it is hopeful that with Republican senator Johann of Nebr. beginning to speak to this president on exporting more of Nebr. farming goods we might be headed in the right direction. Neb. is a pure Republican state, an a total red neck state. They are watcher of Fox news here, an are fed lie's, spins an half trueths 24/7. I am hopeing things will change, because Nelsen will do an vote with repub's to get re-elected here an rarely with Dems. I don't even know why he's a demacrate truely.

[Barnicle23]

02:22 PM on 07/13/2010

I think Nelsen might have to much pressure on him to muck this one up too. Frankly i'm surprised Harry hasn't twisted his arm right off over UI benefits yet.

[up420oz]

02:08 PM on 07/13/2010

Recessions, how long they lasted, and who was POTUS at the time.


June ’53 to June ’54 Eisenhower (Republican January ’53 to December ’60)
July ’57 to March ’58 Eisenhower (Republican January ’53 to December ’60)
March ’60 to January ’61 Eisenhower (Republican January ’53 to December ’60)
December ’69 to January ’71 Nixon (Republican January ’69 to August ’74)
November ’73 to January ’75 Nixon (Republican January ’69 to August ’74) / Ford (Republican August ’74 to December ’76)
January ’80 to July ’80 Carter (Democratic January ’77 to December ’80)
June ’81 to December ’82 Regan (Republican January ‘81 to December ’88)
June ’90 to February ’91 Bush G.H. (Republican January ’89 to December ‘92)
February ’01 to November ’01 Bush G.W. (Republican January ’89 to December ‘92)


Note that the shortest recession happened during Jimmy Carter administration, and it’s the only time that a Democratic President was in office.

All this and other useful historical from 1950 to 2008 on the ANDEX chart at:

http://www.andexcharts.com/c_ewall.htm

Republicans owns Recessions!

use this anytime a con pulls out "financil responible Republican".

[KarenT]

02:10 PM on 07/13/2010

Great info. Thanks. History also shows that Republicans have consistently contributed to the deficit far more than democrats.

Fanned.

[hrpmap]

04:51 PM on 07/13/2010

Obama is about to change that in verry short order, so, still inocent dems??

[TyneCrescent]

02:16 PM on 07/13/2010

Thanks for the link. Full of interesting info about the fiscal responsibility of the repubs.

Fanned.

[truthtester]

02:00 PM on 07/13/2010

This ought to be a riot. Harry going to hog tie the porkers?

[Greg285]

01:57 PM on 07/13/2010

The Dems the following republicans to vote ‘Yes’ on President Obama’s agenda, in order to get it passed a GOP filibuster:
1. Sen. Scott Brown (R-Mass.)
2. The Late Sen. Robert Byrd’s replacement
3. Sen. Olympia Snowe (R-Maine)
Forget trying to work with those so-called ‘Blue Dog Democrats’. They are worthless!! Restart talks about a robust ‘Jobs’ Bill, reinstate unemployment benefits and get Immigration Reform down as the GOP are only intent on seeing President Obama fail! They have no answer whatsoever to address all of these vital issues facing America. All they are concerned with is POWER. I don’t believe for one second that the GOP would be pushing for reinstatement of those benefits if they were in power. It’s a shame that some Americans don’t see what’s going on….

[CTtransplant]

01:50 PM on 07/13/2010

As I said before - reinstate Glass-Steagall...problem solved!

[TyneCrescent]

02:13 PM on 07/13/2010

That would be an added bonus and step in the right direction.In all seriousness, with this Congress, how could that be accomplished?

[Wizer]

02:45 PM on 07/13/2010

Not gonna happen, not anymore. Sorry, I wish it could, too, but those days are over.