Financial reform bill faces tough slog in US Senate

[Ardent15]

"WASHINGTON, Feb 27 (Reuters) - Urgent talks in the U.S. Senate on financial regulatory reform extended into Saturday, but little support emerged for the latest attempt by Democrats to compromise on a key issue -- financial consumer protection.

Neither Democrats nor Republicans were embracing an offer made on Friday by Democratic Senator Christopher Dodd, chairman of the banking committee, to scale back President Barack Obama's proposed Consumer Financial Protection Agency (CFPA).

The consumer watchdog idea remained a major stumbling block impeding bipartisan Senate agreement on financial regulation reform, a top domestic policy priority for Obama.

Dodd circulated a proposal on Friday to make the CFPA a division of the Treasury Department, instead of an independent agency, which the president recommended in mid-2009 and which the U.S. House of Representatives has endorsed."

http://www.reuters.com/article/idUSN2718350620100228

[annabanana]

1. What doesn't?

Seriously...

EVERYthing "faces tough slog in US Senate".

[Imajika]

2. Well now, it is the cooling saucer of our democracy..

Yeah, the Senate is totally dysfunctional, and has been for awhile.

I do wish so many of our folks that want to eliminate or roll back the filibuster now that it suits us, weren't all over video singing the virtues of the Senate as the "cooling saucer of our democracy" just a few years ago.

60 votes to get anything done in the Senate is ridiculous and the rules should be changed immediately and permanently. Elections matter, and US voters intended the Democratic Party to set policy and get the things done that they campaigned on. People do need to remember though, this tool prevented a LOT of horrible GOP legislation in years past, and without it they will get some awful stuff done next time they worm their way into power. Just as an example, we saved ANWR with the filibuster many, many times.

[laughingliberal]

3. Not everything. The industry friendly crap finds its way through, nicely

Anything to help or protect the average person is pretty much DOA in the Senate.

[Telly Savalas]

4. TARP didn't slog through the Senate.

Unless my memory is failing me, it made it though the Senate very quickly.

[Hello_Kitty]

5. Ya know, I'm getting real tired of the Senate. eom