2010-04-26 G.O.P. Blocks Debate on Financial Oversight Bill

2010-04-26 \David M. Herszenhorn\Edward Wyatt New York Times \US Republican Party\2010 financial reform\US economy http://www.nytimes.com/2010/04/27/business/27regulate.html G.O.P. Blocks Debate on Financial Oversight Bill G.O.P. Blocks Debate on Financial Oversight Bill  Senate Republicans, united in opposition to the Democrats’ legislation to tighten regulation of the financial system, voted on 2010-04-26 to block the bill from reaching the floor for debate. As both sides dug in, the battle has huge ramifications for the economy and for their political prospects in this year’s midterm elections.

Republicans said they were intent on winning substantive changes to the bill and accused the Democrats of rushing the most far-reaching overhaul of the financial regulatory system since the Great Depression. Both sides say they expect the overhaul eventually will be approved.

Democrats charged that Republicans were leaving the country at risk of another financial calamity and siding with wealthy corporate interests. The chief executive of one such firm, Goldman Sachs, the Wall Street powerhouse accused of fraud by federal regulators, is to testify 2010-04-27 before a Senate committee. If they agree that it needs to be done but think it is being "rushed", why are they refusing to even debate it? Isn't that part of a proper, reasonably-paced process? Or do they believe something else should happen before the bill goes up for debate -- and if so, what?

&ldquo;Senate Republicans, united in opposition to the Democrats’ legislation to tighten regulation of the financial system, voted on {{date|2010-04-26|Monday to block the bill from reaching the floor for debate.&rdquo;  {{:project:code/show/link}} 