NJ Senators break Republican filibuster

by: Hopeful

Thu May 20, 2010 at 03:32:34 PM EDT

Senators Lautenberg and Menendez along with most Democrats and three Republicans won a key cloture vote on financial reform today:

The final vote today was 60-40 (yesterday it was 57-42). Next up is a final vote on passage, which is expected to take place within days.
After today's vote, Senate Majority Leader Harry Reid said there are "a couple of amendments that are germane post-cloture, but there the ones that we have to figure out a way to get resolved."

I'll confess my sympathies are with Senators Cantwell and Feingold who voted no over various loopholes and gaps in the legislation. I sure hope this is strong enough because I have my doubts.

Hopeful :: NJ Senators break Republican filibuster

Tags: cloture, featured, Bob Menendez, financial reform, Wall Street, Frank Lautenberg, (All Tags)

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NJ Senators break Republican filibuster | 5 comments

Lautenberg statement (0.00 / 0)

"With this key vote, we are one step closer to bringing an end to the era of Wall Street banks that are 'too big to fail.' Over the past two years, honest Americans have suffered at the hands of big banks. Families have lost their homes, workers have struggled to find jobs, and retirees have watched their savings dwindle. Now we are a step closer to restoring confidence and transparency in our financial system. Despite Republican efforts to stand with Wall Street and block this bill, today the Senate has advanced legislation that will hold big banks accountable and puts consumers back in control."

Frank LoBiondo Record and Jon Runyan Watch

by: Hopeful @ Thu May 20, 2010 at 20:40:29 PM UTC

by: you @ soon

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If you want transparency (0.00 / 0)

Audit the fed .....find out where TARP money has gone ...find out who is now buying our Bond at auctions .the banks are still in controll as long as they controll our money .....the list goes on

by: speedkillsu @ Thu May 20, 2010 at 22:26:22 PM UTC

by: you @ soon

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there is a Fed audit (0.00 / 0)

in the bill, if it makes you feel better about it.

Frank LoBiondo Record and Jon Runyan Watch

by: Hopeful @ Thu May 20, 2010 at 23:14:25 PM UTC

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by: you @ soon

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What nonsense you speak! (0.00 / 0)

Are you a conspiracy theorist? Do you have any facts?

Last week, you didn't even understand the difference between withholding rates and taxes. Why should we think you understand what's happening at the federal level?

by: princetonblue @ Thu May 20, 2010 at 23:53:36 PM UTC

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by: you @ soon

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it's not a audit (0.00 / 0)

Specifically, it would require the Government Accountability Office (GAO) to conduct an audit of the Federal Reserve within one year of the bill's enactment. However, it would not allow the GAO to audit the Federal Reserve's interest rate decisions or normal lending activities through the "discount window." ....This is where banks receive there funds ...The irony is of course if you ended the fed, ended fractional reserve lending, got rid of FDIC, there would be very few banks in poor health or insolvent.

by: speedkillsu @ Fri May 21, 2010 at 09:18:47 AM UTC

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