Read time: 1 minute

Dems To Try, Try Again Thursday On Banking Reform Vote

Not so fast, Sen. Dodd. You're telling us this is about Republicans blocking reform, but I agree with Russ Feingold - don't vote until we have a rea

Not so fast, Sen. Dodd. You're telling us this is about Republicans blocking reform, but I agree with Russ Feingold - don't vote until we have a real reform bill. Keep talking!

WASHINGTON With one Democrat absent and two others voting no, the Senate failed to get the 60 votes needed to avoid a filibuster and bring the huge overhaul of financial regulations to a vote.

Democrats and Republicans have been trying to reach agreement on a few key issues, but some disputes apparently are lingering over several amendments.

Another vote is expected on Thursday, and Democratic leaders were optimistic that they could overcome the procedural hurdle.

The Democrats fell two votes short, though the vote was 57-42. Majority Leader Harry Reid of Nevada changed his vote to 'no' to make it easier to hold another vote. He blasted Republicans after the vote for voting to "protect the big banks on Wall Street."

[...]Cantwell wants votes on two amendments -- one to tighten new proposed regulations on complex financial derivatives and another to restore a prohibition against federally insured commercial banks also doing investment banking. Feingold also wants a vote on the banking prohibition.

"The test for this legislation is a simple one -- whether it will prevent another financial crisis," Feingold said after the vote. "As the bill stands, it fails that test. Ending debate on the bill is finishing before the job is done." - Live Donations Tracking for 2012 Donations - Make a Donation to 2012 Donations

Can you help us out?

For 16 years we have been exposing Washington lies and untangling media deceit. We work 7 days a week, 16 hours a day for our labor of love, but with rising hosting and associated costs, we need your help! Could you donate $21 for 2021? Please consider a one-time or recurring donation of whatever amount you can spare, or consider subscribing for an ad-free experience. It will be greatly appreciated and help us continue our mission of exposing the real FAKE NEWS!

More C&L Coverage


New Commenting System

Our comments are now powered by Insticator. In order to comment you will need to create an Insticator account. The process is quick and simple. Please note that the ability to comment with a C&L site account is no longer available.

We welcome relevant, respectful comments. Any comments that are sexist or in any other way deemed hateful by our staff will be deleted and constitute grounds for a ban from posting on the site. Please refer to our Terms of Service (revised 3/17/2016) for information on our posting policy.

Please Do Not Use the Login Link at the Top of the Site.

In order to comment you must use an Insticator account. To register an account, enter your comment and click the post button. A dialog will then appear allowing you create your account.

We will be retiring our Crooks and Liars user account system in January, 2021.

Thank you.
C&L Team