Senate Majority Leader Harry Reid, anxious to get financial regulatory
reform and impatient with Republican delays, has scheduled a key
test vote for 5:15 p.m. on Monday. The vote for cloture on debate will
require 60 votes. With Republicans still
to determine whether they will support reform, can the
test vote pass? Is Reid moving too fast?
- Reid's Bluff-Calling
Will Work ABC News's Rick Klein predicts, "Financial regulatory reform is
exceedingly likely to pass the Senate next week. It will do so, in all
probability, with decent, maybe even significant bipartisan support." He
adds, "The next big legislative item will end with some of the
recognizable bluff-calling, just like that, with Washington either
moving with unusual alacrity or its usual sluggishness, depending on
- Even If It Fails, It Succeeds Politico's Carrie
Budoff Brown and Meredith Shiner write, "if no Republican cracks,
and the bill goes down, Reid is calculating
that would be politically devastating for the GOP, because the party
would appear to be standing shoulder to shoulder with the Wall Street
bankers many Americans blame for the recession."
- Could Lead To Damaging 'Showdown' The Washington Post's Brady Dennis and Paul
Kane warn that Reid could be "setting up a possible showdown
between Republicans and Democrats if efforts at a compromise fall
short." They "must find common ground" on a handful of contentious
provisions, such as the $50 billion resolution fund and the Volcker
Rule, if they are to proceed.
- Why Dems Want To Move Fast
Nesweek's Jonathan Alter explains,
"The longer the negotiations went on with the GOP, the weaker the bill
would have become. Unlike health-care reform, where the Republicans were
all opposed, this bill was in danger of being watered down by
Republicans who were, well, carrying water for the banks. The bill is
already weak tea, but at least now it won't get any weaker."
- Exploiting the Fraying GOP Opposition The Wall Street Journal's Jonathan
Weisman and Damian Paletta write, "Internal GOP divisions improved
Democrats' chances of securing another of their big domestic priorities:
a bill they could tout as addressing the causes and aftermath of the
financial crisis. ... Nerves appeared to be fraying among Republicans
faced with the increasingly unappetizing prospect of opposing new curbs
on Wall Street."
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