FinReg Waits for a Signature After 60 to 39 Vote
The vote was 60 to 38, with just three centrist Republicans from the Northeast joining with the Democrats in voting to advance the legislation. One Democrat, Senator Russ Feingold of Wisconsin, voted against the bill, saying it was still not tough enough. Senator Michael D. Crapo, Republican of Idaho, did not vote, and one seat — which was held by Senator Robert C. Byrd, who died last month — is vacant.
With the Senate poised to send the bill to President Obama for his signature, the White House was already planning a ceremony — sometime next week — to mark completion of another landmark piece of legislation, following the enactment of the historic health care bill in March and last year’s major economic stimulus program.
What it means financial wise and politically below.
But like those other laws, the passage of a new regulatory regime hardly guarantees it will be effective. And, despite lingering public anger at Wall Street, the political implications for this year’s hotly contested midterm elections are far from certain. House and Senate Republicans voted resoundingly, and confidently, against it.
Via Tengrain, the one thing that is truly bipartisan? Corruption:
It seems that eight members of Congress were so transparent about taking bribes right before voting that they are now being investigated. Anyway, one Member actually left the Finance Reform debate to go to a fundraiser at a lobbyist at her nearby Capitol Hill town house that featured financial firms, along with other donors. He returned just in time to vote against the amendments.
Best government money can buy! If you are a corporation. Real people can't afford them.
At least MOST of the Dems voted for something that MAY fix the problems. Stay tuned! And buckle up... It is still going to be rough ride for you and me.