Daily Archives: April 26, 2010

Republicans and Ben Nelson (D-Nebraska) Vote As Bloc To Filibuster Wall Street Bill

Posted by: Audiegrl

Undaunted by a Senate setback, Democrats appeared increasingly confident Monday they will be able to take advantage of Americans’ anger at Wall Street and push through the most sweeping new controls on financial institutions since the Great Depression.

The Senate, in a 57-41 vote, failed to get the 60 supporters needed to proceed on the regulatory overhaul. One Democrat, Sen. Ben Nelson of Nebraska, joined with the Republicans.

But the evening vote was just part of a legislative ballet keeping bipartisan talks alive. At the end, Senate Majority Leader Harry Reid switched his vote to “no,” too, but that was just a maneuver that will enable him to call for a new tally as early as Tuesday.

Democrats believe that public pressure and the scent of a Wall Street scandal have given them the upper hand. Republicans themselves have taken up the Democrats’ Wall Street-bashing rhetoric and have voiced hope that a bill will ultimately pass. In that light, the path to final approval seems clearer than it ever did during the contentious debate over health care.

Statement by President Obama on Financial Reform

“I am deeply disappointed that Senate Republicans voted in a block against allowing a public debate on Wall Street reform to begin. Some of these Senators may believe that this obstruction is a good political strategy, and others may see delay as an opportunity to take this debate behind closed doors, where financial industry lobbyists can water down reform or kill it altogether. But the American people can’t afford that. A lack of consumer protections and a lack of accountability on Wall Street nearly brought our economy to its knees, and helped cause the pain that has left millions of Americans without jobs and without homes. The reform that both parties have been working on for a year would prevent a crisis like this from happening again, and I urge the Senate to get back to work and put the interests of the country ahead of party.”

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Filed under (Senate Majority Leader) Harry Reid, Banking, Democrats, Economy, Pres. Barack Obama, Republicans, Senate, Uncategorized

President Obama Announces Vote 2010

There are only 190 days until the 2010 election.

Many of you have been at work long before now. You’ve held strategy sessions all across the country to discuss how to most effectively help candidates in your community who are fighting to bring about change.

At OFA headquarters, we’ve been poring over your ideas, your input, and the best data we can get our hands on to determine the most helpful role we can play.

Together, based on that feedback, we’ve crafted a comprehensive electoral plan that can make a big difference in the upcoming elections.

President Obama recorded a video message to share our goals for 2010 with you — and to remind us what’s at stake. Watch it now.

Vodpod videos no longer available.

We’ve accomplished a lot together. But we’re in for a tough fight this fall.

Historical trends aren’t in our favor — the president’s party generally loses seats in the first midterm election. And even though President Obama has taken bold steps like the Recovery Act to put us back on the path to prosperity, escaping from a financial crisis like this one takes time.

The prognosticators and pundits are predicting steep losses for the Democrats. The Republicans are already measuring the drapes for their new offices, saying that anything short of an electoral landslide that gives them back control of Congress won’t be a victory.

But these are the same folks who said Barack Obama could never become president, the same ones who said we were trying to do too much, too fast — and that we’d never pass historic health reform. They were wrong then, and they’re wrong now.

I believe we can avoid the nightmare electoral scenario that Republicans in Washington have already convinced themselves will happen. But only if we work together.

Two years ago, we challenged a group of young and disaffected voters to participate in the 2008 election. They cast votes for the very first time and helped us elect a new president. You told us that your top priority for 2010 was to help these people head back to the polls — and we built our plan around that goal.

President Obama has America heading in the right direction. But our opponents want to repeal health reform. They’re standing with Wall Street banks to block any efforts to rein in reckless behavior and protect consumers. And they’re attacking a foreign policy that has renewed America’s standing in the world. They are eager to undo all we’ve done.

The stakes are high. And that’s the level of commitment we need from you. So watch the President introduce our 2010 plan — and find out how you can get involved in the fight

It’s a pleasure to continue our work together,

David Plouffe

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Filed under 2010 Elections, Change, Pres. Barack Obama, Uncategorized