Senate Dems pave way for financial reform vote

Source: Reuters

Democrats pressed ahead with financial regulation reform in the U.S. Congress on Thursday, rejecting Republican complaints and preparing the way for a final vote on legislation in the Senate.

The last unfinished piece of a massive Democratic bill -- new rules for the $450 trillion over-the-counter derivatives market -- was expected to take clearer shape on Friday with the release of proposals from the Senate Agriculture Committee.

Polls show bankers are deeply unpopular with voters after a severe financial crisis tipped the economy into a deep recession, hammering home values, jobs and retirement plans.

Democrats are betting that Republicans, eyeing congressional elections in November, will be reluctant to stand too closely at the banks' side when the times comes for a vote in the Senate on tightening bank and capital market oversight.

"As for timing, we believe this could go to the floor as soon as April 27. This date could easily slip.


Read more: http://www.reuters.com/article/idUSTRE63E5QE20100416

There's still that quisling Joe LIE-berman (I-Worthless) in the wings

Or are people seeing that this administration/party is better than someone with an "R" by their name?

A popular bill that is more liberal then the House Bill(how odd is that?) that plays tough with the banks should make the Dems look better.

Say what you want about Obama, but he is doing a great job getting stuff passed through Congress. Even Bush would be drooling at how effective Obama has been in getting Congress to do his bidding.

I'm just pointing out that Lieberman is still there to muck up the works

The same way he did the Medicare buy in

He's going to push as hard as he can to be a distraction and make himself 'relevant' by being a pain in the ass for 1 of 2 reasons (IMO):

1. With the CT A.G. running for the Senate this time, his greatest threat is eliminated from running against him in 2012, so he thinks he has an opening to be Joe LIEberman PIA
or
2) He knows he's done and is gonna go out in a blaze of glory

I'm not from CT, so I don't know which it is

The derivative regulations that come from the Senate Agricultural Committee are being negotiated by none other than Blanche Lincoln and Saxby Chambliss. Bet a whole bunch of nothing reform comes out of that...

They've shown remarkable ingenuity and creativity in that department.

Those heartless, fat cat thieves should be paying for this reform as well as contribute to the government's till.