Republicans Obstruct Finance Reform

The Republicans today blocked the Finance Bill for the third straight day. The Republicans agree that something needs to be done about financial services reform, and even that the legislation will be approved, but are unwilling to move to debate over some minor details. The Republicans are facing a difficult path in trying to keep this up. One could see the type of pressure that the Republicans are facing from this exchange on this morning’s Today show:

“Senator Collins, that does bring up the irony here,” the Today host, Matt Lauer said. “Both of you agree changes have to be made, that this is an unacceptable situation. And yet for the second time yesterday, Republicans blocked further debate on this financial-reform bill. How can you say in one room, ‘we have a major problem here’ and how can Republicans say in another room, ‘But we don’t want to debate it openly on the floor of the Senate right now?’”

“I am confident that a financial-reform bill will be brought to the floor,” Ms. Collins said, but she was cut off by Mr. Lauer reminding her that Republicans during the debate of health care legislation had complained of too much back-room dealing.

Having said that, Senate Minority Leader Mitch McConnell thinks there won’t be backlash against Republicans for the holdup, even as his party starts to fracture and DNC Chair Tim Kaine positions Democrats as ‘‘results party‘:

—We’ve gone from recession to recovery.

—We’ve made more progress in the war on terror in the last eight months than was made in the preceding eight years.

—We’ve strengthened our relationships with our allies around the world.

—Two million people or more have jobs today who wouldn’t have without the bold action taken by this president and Democrats in Congress.

—We have the first Latina and only the third woman ever on the Supreme Court.

—We’re using science and fact in policy making instead of ideology and politics.

—We have the most transparent Administration in modern history, with tough ethics standards, and we are wringing the influence of special interests out of the policy making process.

-And, we’ve taken health care from crisis to reform.

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