Monday, April 26, 2010

Republicans Block Bank Reform Measure

April 26, 2010

Senate Republicans stood together "to successfully block lawmakers from moving ahead with sweeping legislation to overhaul U.S. financial markets, a temporary stumble for the Obama administration's top domestic policy priority," the Wall Street Journal reports.

"The Senate voted 57-41 on a procedural measure allowing lawmakers to move toward debate on financial regulatory overhaul legislation, falling short of the 60 votes needed. All GOP senators present voted against invoking cloture, joined by at least one Democrat, Sen. Ben Nelson (D-NE)."

Roll Call reports Sen. Christopher Dodd (D-CT) was set to meet again with Banking ranking member Richard Shelby (R-AL) following the vote "to continue hammering a possible agreement that could be taken up by the full Senate later this week. Meanwhile, Democrats are likely to continue highlighting the issue with repeated floor statements and press conferences this week as they hope to build enough momentum behind the issue to pick off a handful of Republican votes."


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