Financial Reform Fails ... Senate Will Try Again Tomorrow

More

The Senate voted late Wednesday afternoon to end debate on financial reform, and Democrats couldn't muster the 60 votes they needed. Two Democrats broke from their party for a 57-42 final tally. 


The Atlantic Business Channel's Daniel Indiviglio explains why: Washington's Maria Cantwell wants the Senate to hear her amendment to reinstate Glass-Steagall, the rule that would prevent retail banks from doing some types of investment banking; Wisconsin's Russ Feingold, one of the more liberal Democrats in the Senate, says the bill wouldn't end "too big to fail," and he sounds as if he also wants Cantwell's amendment included.

The Senate will vote again tomorrow, according to Senate Majority Leader Harry Reid's spokesman Jim Manley. If Democrats stay unified and move forward with 60 votes tomorrow, it will be another 30 hours before a final vote can be taken.
Jump to comments
Presented by

Chris Good is a political reporter for ABC News. He was previously an associate editor at The Atlantic and a reporter for The Hill.

Get Today's Top Stories in Your Inbox (preview)

Why Are Americans So Bad at Saving Money?

The US is particularly miserable at putting aside money for the future. Should we blame our paychecks or our psychology?


Elsewhere on the web

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus

Video

The Death of Film

You'll never hear the whirring sound of a projector again.

Video

How to Hunt With Poison Darts

A Borneo hunter explains one of his tribe's oldest customs: the art of the blowpipe

Video

A Delightful, Pixar-Inspired Cartoon

An action figure and his reluctant sidekick trek across a kitchen in search of treasure.

Video

I Am an Undocumented Immigrant

"I look like a typical young American."

Video

Why Did I Study Physics?

Using hand-drawn cartoons to explain an academic passion

Writers

Up
Down

More in Politics

Just In