Republicans Are On the Way to Win Battle Against the Approval of Financial Reform Bill
It seems like Republicans are going to win the long lasting battle against the approval of Financial Reform Bill. So far, they’ve taken a unanimous vote to block efforts of overhauling the financial reform bill from reaching down to the Senate floor.
The Democrats, on the other hand, had 59 votes but since there were some people who defected at the final moment, they’ve been left with 57 votes and we already know that 60 votes are needed to proceed with a proper debate over any major issue.
Democrats did have to bear with some last minute shocking revelations (just like those Scooby-Doo cartoon series, when the mask is unveiled in the end) because Sen. Ben Nelson joined Republicans as a “Nay” sayer. Senator Harry Reid is still prepared for calling more votes in days to come and beyond because he believes that the pressure needs to be maintained to land with a proper decision.
As far as average Americans are concerned, they just need a workable solution which is going to straighten out those loopholes in the U.S. economy. About 2/3 of Americans have supported the stricter regulations on the way banks and financial entities have been acting. But the financial reform bill is not just a parchment, it is a 1400 page document which has been edited and adequate amendments have been made a couple of times.
From the looks of it, the regulatory bill is soon going to be approved by both of the political parties. For now, Senators already know that there hasn’t been any solid decision taken and those votes are just temporary so most of those guys are ready to switch their roles/votes.