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ObamaBailout 2.0

By: Brian Darling (Diary)  |  April 28th, 2010 at 04:00 PM  | 

RESIZE: AAA

The Senate has failed to invoke cloture on S.3217, Restoring American Financial Stability Act of 2010, by a 56-42 vote today (60 votes needed to shut off debate). This is the third failed cloture vote in 3 days and sources close to the negotiations tell me that opponents of permanent bailout authority for the federal government are “hanging on by a thread.” My employer, The Heritage Foundation has put out an excellent video that educates as to the content of the legislation. 

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  • Brian Darling

    “Senate Republicans are prepared to end their stalling tactics on new banking regulations and will attempt to change the bill on the Senate floor, Republican officials said.” I would be nice if these negotiations were transparent so the taxpayers can understand if they will or will not be on the hook for the bad decisions on Wall Street. I guess this will all play out on the Senate floor starting tomorrow.

    • IJB

      This is exactly why everyone wants McConnell gone.

      After his abysmal performance on ObamaCare and this, I now am also in the camp that wants McConnell gone.

    • redneck_hippie

      keeping congress in session over night tonight. I wonder if that was one of the reasons the Rs are now thinking of attempting to make changes on the floor.

      As this fillibustering proceeded, it seems to me that the Rs had stiffened their opposition in some large reason because the Ds had so poisoned the well with their thug tactics on HCR. One would hope that lesson in “give them an inch & they’ll take a mile” stays uppermost. What I want to see is stopping bad legislation at the earliest possible stage. To allow these bills to proceed in hopes of stopping it at a later stage is ridiculous. There is no reason why these laws cannot wait until next Februrary.

    • Hugh

      to compromise on this bill. Compromise is like designing a three hump camel and thinking it can win the Kentucky Derby. We really do need change but not the kind that BHO wants.
      Suggestion to elected representatives: Why not enforce financial regulations that already exist first. That would be a good starting point.

    • texasgalt

      and they are about to put a checkmark on another one. Half the population of the country is going to wind up working for the Feds. The other half will be mind numbed by day trying to comply with all the rules and stone drunk at night trying to forget their so called lives.

      Next up: Immigration and bringing Arizona to its knees.

      This might be a little tougher, if the border governors join Arizona to say NO FARTHER. God knows McConnell is too old, tired and cowardly to stop anything.

  • zollistar

    I think that’s a key problem: lack of courage.

    Related problem: poor leadership.

    Also, as best we can, let’s support Redneck Hippie’s call: “What I want to see is stopping bad legislation at the earliest possible stage.

    INDEED!

  • jaybo

    I am deeply troubled by what I am seeing. We are now destined to institutionalize another new bureaucracy that will eventually become as ineffective as the current agencies that are supposed to control the financial markets and the investment markets?

    But what is even worse is the fact that we are rapidly moving toward a critical mass of public service employees that will be able to impact any and all future elections because of their size.

    Does anyone here really believe that senate republicans have the courage to block a Cap & Trade bill that will be pushed before the 2010 election?

    I am ready to support an insurgent (peaceful) movement to oust any and all progressive republicans before they completely destroy this country. And by that I mean a litmus test that would require a candidate to sign a pledge to never support any increase to the federal government.

    It will be hard enough to shrink the size of the current government bureaucracy if we ever actually get a chance to try in the near future without watching it grow even large before we get a chance.

  • cwb33

    are vehemently opposed to this bill is because it does them a favor by creating a permanent bailout? How is THAT possible???

    • Leopard1996

      Show that you are opposed to it, so that the Democrats and Liberals can puff their chest onstage, then get the payoff behind the curtain. That way everybody wins but the American People.

      • Leopard1996

        I just spent two minutes replying to a bomb throwing douche. I apoligize. Hinz rule I believe needs to be invoked.