The GOP has now gone on record officially as saying it wants to block the Senate from even discussing a financial reform bill. When it comes to reform, they don't want the democratic process to take place at all.
Why would Senator Shelby oppose the Consumer Financial Protection Agency and fight against the interests of the people of Alabama? Simple. Cause the banks and credit card companies give him a ton of cash.
It will be up to the American people to decide whether the second decade of the 21st-century will be an example of the pathological effects of domestic politics, or a case of a country overcoming domestic divides to advance effective foreign policy.