Wall Street reform--remember that?--process update

by: Chris Bowers

Tue May 11, 2010 at 10:21


Update--Sanders amendment passes unanimously: Sanders amendment just passed 96-0.

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Wall Street reform is one of the many issues that has slipped under the radar in the wake of the Kagan nomination.  However, it is moving forward apace, as the Senate resumes work work it this morning.  Here are some updates:

  1. Audit the Fed amendments up this morning This morning, the Senate will vote on the Sanders amendment to conduct a one-off amendment of the Federal Reserve to determine which firms received bailout money.  This amendment is a compromise forged with the administration, altering the original "audit the Fed" amendment pushed by Ron Paul and others.  The original amendment, now sponsored by David Vitter of Louisiana,  will also be voted on.

  2. Merkley-Levin amendment whip count Public Citizen is conducting a public whip count on the Merkley-Levin amendment that "would stop banks from engaging in Goldman-Sachs-style bets against their own clients." To help out, click here, and take action.

  3. Decision on whether to file cloture on the overall bill to come today There is a Democratic Senate caucus meeting today.  At that meeting, Democrats will decide whether to file cloture on the overall bill.  If they decide yes, the final vote will come  as early as Thursday.  The decision will be based on whether Democratic Senators feel they have had enough time to debate the bill and offer amendments.

  4. Process speculation. Currently, it is expected that Monday will be the latest date for the final vote on the overall bill. Also, there might be all-night debates on amendments on Wednesday and / or Thursday, depending on when cloture is filed.  There will also probably be a conference committee with the House after the bill passes the Senate, starting less than a week after passage.  Democrats are still targeting Memorial Day for the bill to be signed into law.
More updates as they come in.  Follow the proceedings on CSPAN-2.
Chris Bowers :: Wall Street reform--remember that?--process update

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The link (0.00 / 0)
under number 2 is broken.

No vote (4.00 / 1)
on restoring Glass-Steagall, then?

Not that I expect such a thing to pass, but a public vote on that one would be nice.  


I think it's still going to be voted on. (0.00 / 0)


[ Parent ]
Final Straw For Me (0.00 / 1)
No re-enact Glass-Steagall, no break up TBTF banks.  No consumer protection.

This BS, after the HCR mess is enough for me.

I've only voted Dem for over thirty years - it's time to vote Repub and hope for another Great Depression.


This bill is very effective. (0.00 / 0)
It will regulate derivatives much better than the House bill and will limit the size of banks.

[ Parent ]
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