WaPo: Senate overwhelmingly approves bailout amendment

[steve2470]

http://www.washingtonpost.com/wp-dyn/content/article/2010/05/05/AR2010050504164.html?hpid=topnews

In a rare show of bipartisanship, the Senate on Wednesday overwhelmingly approved an amendment to the financial regulatory bill aimed at ensuring that taxpayers are never again on the hook for bailing out collapsed banks and investment firms.

The 93 to 5 vote brought together lawmakers as diverse as ultra-liberal Sen. Bernie Sanders (Vt.) and Sen. Richard Shelby (R-Ala.), the conservative who co-wrote the amendment with Senate Banking Chairman Christopher J. Dodd (D-Conn.).

Supporters of the overall legislation hope to keep intact at least a portion of that coalition in the days ahead, as further changes to the bill are considered, including a controversial amendment that would establish consumer protections from lending abuse by mortgage and credit card companies.

The bailout amendment approved Wednesday deals with the portion of the overhaul bill that determines the process for winding down large, troubled financial firms. It drops a $50 billion fund, paid for by the financial industry, to cover liquidation costs. Republicans said the fund would create an incentive for firms to make risky investments.

more at link above

yay !

[Ruby the Liberal]

1. Wow. I missed that it was up for a vote today.

Good news.

Who were the 5 slugs that voted against it?

[steve2470]

2. votes

http://senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00130

Amendment Number: S.Amdt. 3737 to S.Amdt. 3739 to S. 3217 (Restoring American Financial Stability Act of 2010)
Statement of Purpose: To prohibit taxpayers from ever having to bail out the financial sector.
Vote Counts: YEAs 96,NAYs 1, Not Voting 3

Alphabetical by Senator NameAkaka (D-HI), Yea
Alexander (R-TN), Yea
Barrasso (R-WY), Yea
Baucus (D-MT), Yea
Bayh (D-IN), Yea
Begich (D-AK), Yea
Bennet (D-CO), Yea
Bennett (R-UT), Not Voting
Bingaman (D-NM), Yea
Bond (R-MO), Yea
Boxer (D-CA), Yea
Brown (D-OH), Yea
Brown (R-MA), Yea
Brownback (R-KS), Yea
Bunning (R-KY), Yea
Burr (R-NC), Yea
Burris (D-IL), Yea
Byrd (D-WV), Not Voting
Cantwell (D-WA), Yea
Cardin (D-MD), Yea
Carper (D-DE), Yea
Casey (D-PA), Yea
Chambliss (R-GA), Yea
Coburn (R-OK), Yea
Cochran (R-MS), Yea
Collins (R-ME), Yea
Conrad (D-ND), Yea
Corker (R-TN), Yea
Cornyn (R-TX), Yea
Crapo (R-ID), Yea
DeMint (R-SC), Yea
Dodd (D-CT), Yea
Dorgan (D-ND), Yea
Durbin (D-IL), Yea Ensign (R-NV), Yea
Enzi (R-WY), Yea
Feingold (D-WI), Yea
Feinstein (D-CA), Yea
Franken (D-MN), Yea
Gillibrand (D-NY), Yea
Graham (R-SC), Yea
Grassley (R-IA), Yea
Gregg (R-NH), Yea
Hagan (D-NC), Yea
Harkin (D-IA), Yea
Hatch (R-UT), Yea
Hutchison (R-TX), Yea
Inhofe (R-OK), Yea
Inouye (D-HI), Yea
Isakson (R-GA), Yea
Johanns (R-NE), Yea
Johnson (D-SD), Yea
Kaufman (D-DE), Yea
Kerry (D-MA), Not Voting
Klobuchar (D-MN), Yea
Kohl (D-WI), Yea
Kyl (R-AZ), Nay
Landrieu (D-LA), Yea
Lautenberg (D-NJ), Yea
Leahy (D-VT), Yea
LeMieux (R-FL), Yea
Levin (D-MI), Yea
Lieberman (ID-CT), Yea
Lincoln (D-AR), Yea
Lugar (R-IN), Yea
McCain (R-AZ), Yea
McCaskill (D-MO), Yea
McConnell (R-KY), Yea Menendez (D-NJ), Yea
Merkley (D-OR), Yea
Mikulski (D-MD), Yea
Murkowski (R-AK), Yea
Murray (D-WA), Yea
Nelson (D-FL), Yea
Nelson (D-NE), Yea
Pryor (D-AR), Yea
Reed (D-RI), Yea
Reid (D-NV), Yea
Risch (R-ID), Yea
Roberts (R-KS), Yea
Rockefeller (D-WV), Yea
Sanders (I-VT), Yea
Schumer (D-NY), Yea
Sessions (R-AL), Yea
Shaheen (D-NH), Yea
Shelby (R-AL), Yea
Snowe (R-ME), Yea
Specter (D-PA), Yea
Stabenow (D-MI), Yea
Tester (D-MT), Yea
Thune (R-SD), Yea
Udall (D-CO), Yea
Udall (D-NM), Yea
Vitter (R-LA), Yea
Voinovich (R-OH), Yea
Warner (D-VA), Yea
Webb (D-VA), Yea
Whitehouse (D-RI), Yea
Wicker (R-MS), Yea
Wyden (D-OR), Yea

[Turbineguy]

6. Kyle

Nay.

He probably thought he was voting on something different.

[librechik]

3. it's not a bailout, it's a bank-financed rainy-day fund

I'm sick of accepting the RW frames fro every god damn thing. It's an ANTI bailout fund, for heaven's sake. (I know you're just quoting, but DAMN them!)

[Arkana]

4. That's a no-brainer--I'd like to see the 5 who voted against it

explain that one to their constituents.

E: Hahahahaha Jon Kyl is such an enormous asshole.

[steve2470]

5. this was the reported vote in the Washington Post...

http://senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00131

Amendment Number: S.Amdt. 3827 to S.Amdt. 3739 to S. 3217 (Restoring American Financial Stability Act of 2010)
Statement of Purpose: To improve the bill.
Vote Counts: YEAs 93
NAYs 5
Not Voting 2


YEAs ---93

Akaka (D-HI)
Alexander (R-TN)
Barrasso (R-WY)
Baucus (D-MT)
Bayh (D-IN)
Begich (D-AK)
Bennet (D-CO)
Bingaman (D-NM)
Bond (R-MO)
Boxer (D-CA)
Brown (D-OH)
Brown (R-MA)
Brownback (R-KS)
Bunning (R-KY)
Burr (R-NC)
Burris (D-IL)
Cantwell (D-WA)
Cardin (D-MD)
Carper (D-DE)
Casey (D-PA)
Chambliss (R-GA)
Cochran (R-MS)
Collins (R-ME)
Conrad (D-ND)
Corker (R-TN)
Crapo (R-ID)
Dodd (D-CT)
Durbin (D-IL)
Ensign (R-NV)
Enzi (R-WY)
Feingold (D-WI) Feinstein (D-CA)
Franken (D-MN)
Gillibrand (D-NY)
Graham (R-SC)
Grassley (R-IA)
Gregg (R-NH)
Hagan (D-NC)
Harkin (D-IA)
Hutchison (R-TX)
Inhofe (R-OK)
Inouye (D-HI)
Isakson (R-GA)
Johanns (R-NE)
Johnson (D-SD)
Kaufman (D-DE)
Kerry (D-MA)
Klobuchar (D-MN)
Kohl (D-WI)
Kyl (R-AZ)
Landrieu (D-LA)
Lautenberg (D-NJ)
LeMieux (R-FL)
Leahy (D-VT)
Levin (D-MI)
Lieberman (ID-CT)
Lincoln (D-AR)
Lugar (R-IN)
McCain (R-AZ)
McCaskill (D-MO)
McConnell (R-KY)
Menendez (D-NJ) Merkley (D-OR)
Mikulski (D-MD)
Murkowski (R-AK)
Murray (D-WA)
Nelson (D-FL)
Nelson (D-NE)
Pryor (D-AR)
Reed (D-RI)
Reid (D-NV)
Risch (R-ID)
Roberts (R-KS)
Rockefeller (D-WV)
Sanders (I-VT)
Schumer (D-NY)
Sessions (R-AL)
Shaheen (D-NH)
Shelby (R-AL)
Snowe (R-ME)
Specter (D-PA)
Stabenow (D-MI)
Tester (D-MT)
Thune (R-SD)
Udall (D-CO)
Udall (D-NM)
Vitter (R-LA)
Voinovich (R-OH)
Warner (D-VA)
Webb (D-VA)
Whitehouse (D-RI)
Wicker (R-MS)
Wyden (D-OR)



NAYs ---5

Coburn (R-OK)
Cornyn (R-TX) DeMint (R-SC)
Dorgan (D-ND) Hatch (R-UT)


Not Voting - 2

Bennett (R-UT) Byrd (D-WV)

[Arkana]

7. Why did Dorgan vote against this???????

[LakeSamish706]

10. Here ya go!

NAYs ---5

Coburn (R-OK)
Cornyn (R-TX) DeMint (R-SC)
Dorgan (D-ND) Hatch (R-UT)

[Arkana]

12. I can see that--I'm still not clear on why he voted against the amendment.

[LakeSamish706]

14. Sorry, that wasn't meant for you! Reply to wrong person. n/t

[B Calm]

8. Who were the five who voted against it?

[LakeSamish706]

11. Try that again!

NAYs ---5

Coburn (R-OK)
Cornyn (R-TX) DeMint (R-SC)
Dorgan (D-ND) Hatch (R-UT)

[jody]

9. Good crap for campaigns but the only way to prevent additional bailouts is to amend our Constitution

and that's not going to happen.

The only way for voters to retake congress is to replace every congressperson who voted for recent bailouts and keep doing that until we teach our representatives to heel.

IMO voters will not do that so I expect a continued evolution to a corporate state where several ethnic groups are exploited by corporatists and kept fighting among themselves while moneyed interests pass bills that enrich a few while a benign totalitarian government controls we the people.

[gratuitous]

13. It's not a bailout, it's a self-funded loss pool

Yes, the costs will be passed along to depositors. But spread out over several million of us and over the course of years, we'll barely notice it. And the next time the greedheads tank the system (and you know there will be a next time), at least we'll have $50 billion on hand to ameliorate some of the damage done.

Next, let's try to reform the financial system so that investment/finance/real estate don't get so cozy on a deal that they can put more than $50 billion at risk. Because when the financiers were the sellers were the rating agencies, BIG trouble followed.

[steve2470]

15. kick for overnight crowd

WaPo changed the original headline to: Financial overhaul bill gets bipartisan push in Senate