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April 27th, 2010
05:00 PM ET

2/3 of Americans support financial reform, but Senate GOP blocks it

FROM CNN's Jack Cafferty:

Here we go again. Yet another example of our representatives in Washington not listening to what the people want.

Sen. Scott Brown (R-MA) talks with reporters after a vote on financial reform. Senate Democrats failed to bring legislation to the floor for debate in a 57-41 vote, unable to gain the 60 votes needed to overcome the threat of a Republican filibuster.
Sen. Scott Brown (R-MA) talks with reporters after a vote on financial reform. Senate Democrats failed to bring legislation to the floor for debate in a 57-41 vote, unable to gain the 60 votes needed to overcome the threat of a Republican filibuster.

Despite the fact that two-thirds of Americans support tougher regulation of banks and Wall Street... Republicans have already voted unanimously to block financial reform from reaching the senate floor - and they might do it again minutes from now when another test vote happens.

A new ABC News/Washington Post poll shows 65 percent of those surveyed want stricter financial reform. 31 percent are opposed.

The poll also shows majorities back two key parts of the senate bill... including greater government oversight of consumer loans... and a fund - paid for by the banks - that would help dismantle failing institutions. According to this poll, the public is split on letting the government regulate complex financial instruments knows as derivatives.

Also - by a double-digit margin, Americans trust Pres. Obama more than the Republicans in Congress to handle financial reform...

Not a huge surprise when you consider how the GOP is handing this. Although Republicans say they want a bill to pass... they say it needs to be "substantive" and they insist they won't be quote "rushed on another massive bill" by the Democrats. Top Republicans remain optimistic they can come to a bipartisan agreement.

Meanwhile, Majority Leader Harry Reid - who called another vote for this afternoon - says the Democrats won't tolerate efforts to water down the reform.

Here’s my question to you: Why are Senate Republicans blocking financial reform legislation when two-thirds of Americans want it done?

Interested to know which ones made it on air?

Pat in Michigan writes:
Jack, I am a Democrat and I have to agree with the Republican Party on this. I want real reform, not window dressing for the November elections. They appear to be so anxious to take away the stink from health care that they want anything passed, just to be able to say "Hey, we have your best interests at heart."

Mike in Oklahoma City writes:
Because the 1% of the population whose interests the Republicans care about do not want them to.

Rahn in Minnesota writes:
Jack, I have one question for you: Can you define the term "financial reform"? Just like the new health care law that the hospital I work at is STILL trying to decipher, this bill's definition of "financial reform" may be something that you may just not want after you read the whole thing. Just because you slap a populist label like 'financial reform' on a bill does not make the details any more agreeable once you get past the title.

Carol writes:
I would like to see financial reform, BUT (1) the problems of Fannie Mae and Freddie Mac are not addressed in this bill – WHY NOT? (2) No more bailouts – period. (3) I don't want another government agency – it will just come in over budget and not do its job. (4) I am sick and tired of the antics of the Democratic Party playing "chicken little – sky is falling – must be done now" politics.

Todd writes:
Both sides of the aisle are pathetic juvenile imbeciles in this instance and so many others. It happens to be the GOP's turn. They all want the football no matter what the consequences are for their constituency and the country as a whole.

Luke in Knoxville, Tennessee writes:
The GOP wags their tails when Wall Street tells them to. If you haven't figured this out yet, give up and go home.


Filed under: GOP • Republicans • Senate
soundoff (128 Responses)
  1. Linda Wolff

    Very soon after President Obama was inaugurated, Senator Richard Shelby's exact words were "we will break him." I guess that's what the Republicans (the party of "no') are bound and determined to do. They won't succeed, of course, since the President has more guts in his little finger than they have in their whole bodies. But they are sure making things a lot more difficult for him. Too bad.

    Linda
    Sarasota

    April 27, 2010 at 4:41 pm |
  2. Chad from Los Angeles

    It will hurt their campaign donations. They care more about getting re-elected to office than actually doing anything while in office!

    April 27, 2010 at 4:43 pm |
  3. Michael G

    Well Jack,
    For the same reason the GOP controlled House and Senate back at the end of the Clinton era voted to eliminate banking, finance, and mortgage controls, which directly let to this recession.
    The GOP love free enterprise with no oversight.
    They love seeing double digit profits and average Americans falling further into the "have nots" category.
    Now, we have 3 or 4 trillion dollars more in debt, due to bailouts, not to mention trillions lost in the stock market, and trillions lost in home and real estate values, and 4 million jobs lost.
    Thank the GOP for that Jack.
    Vote the bums out !

    Michael G
    Vancouver, WA

    April 27, 2010 at 4:49 pm |
  4. Michael Lorton, Virginia

    Jack: It is not what the people wants that matters; It is what is good for the GOP and individual interest. You mentioned eariler, Americans keep electing the same officials, expecting different results--and we know what that is called. The GOP will do what satisfied and benefits the 10 percent of the population that control 95 percent of the wealth of this nation--those are the individuals who run this nation. Americans get what they "elected," and if they keep electing these individuals--well they are going to continually keep getting the shaft--–Hello America! Wake up and vote these idiots out of office--and plese don't replace with another one!

    April 27, 2010 at 4:51 pm |
  5. Judy - California

    Because they are idiots, and they think the voters are idiots. They think they have the 2010 elections in the bag, so why not try and sabatoge this administrations efforts on every front just for good measure. I know who will get my vote in 2010 and 2012 – I have had enough of their posturing.

    April 27, 2010 at 4:56 pm |
  6. Joe CE

    Gop strategy is to block anything. It is incredible that out of 41 senators not one has a mind of their own. This tactic has started to backfire and thery will pay in the next election.

    April 27, 2010 at 4:57 pm |
  7. geezer

    Because they still think they have the ball and can demand that the game is played their way.

    April 27, 2010 at 4:58 pm |
  8. Lori

    The only thing I miss at CNN is you, Mr. Cafferty! I sure wish that MSNBC would give you your own show.

    The reason the Republicans are blocking financial reform is because they are the ones who undid the regulations in the first place. Pretty obvious answer but there you go.

    Thanks for the reality check.

    April 27, 2010 at 4:59 pm |
  9. John Badhorn

    Because once again the democrats are trying to pass a bill they have not read and dont understand, it is purely political. You said it yourself, two thirds of Americans want some reform. They also wanted a GOOD health care reform bill but look at what we got, just now the true facts and costs are coming to light of what that will cost. Maybe, just maybe the republicans want to slow down this insane rush to pass legislation and do what is best for the country unlike our current administration who is only concerned with ramming legislation for political gain.

    April 27, 2010 at 4:59 pm |
  10. Jan from NC

    Why is it when the GOP says no the media jumps to the conclusion it means NO to whatever idea is being debated. How about the GOP is saying no because the democrats have put forth a useless bill and the republicans are holding out for a bill that will actually bring about some financial reform.

    April 27, 2010 at 5:01 pm |
  11. Stephen Cirillo

    Pure politics. They care more about taking back power than they do about make ordinary citizens lives better. They get their funding from corporations and they do the bidding of the corporations.

    When they have been in power, they do nothing. When they are out of power they attack and lable their opponents as socialists or facist. Unfortunately for all of us, they do not know the meaning of theses words, do not know 20th century history, and do not deserve to lead us.

    April 27, 2010 at 5:01 pm |
  12. Jim Shields

    The reason the Republicans are blocking it is simple Jack.
    Money.
    It's not complicated.

    April 27, 2010 at 5:03 pm |
  13. Gigi

    Jack, do the words lobbyist and campaign finance ring a bell. We learned a long time ago it's not about the American people. It's all about Lobbyist and the all mighty dollar. I'm happy to hear two-thirds of Americans are starting to wake up. This nightmare didn't just happen. Finance reform is long over due and if we want to be one of the big players in the world it's "Now or Never" time to clean house. The party that cooperates with finance reform needs to be the winner in this matter.
    I think the "Party of NO" is beginning to wear thin on the nerves of the Republican Party members and millions of people who are still struggling after the 10 year + war, jobs ship off to third world countries, financial collapse of banks and lending institutes etc..

    April 27, 2010 at 5:05 pm |
  14. Dave from South Carolina

    The GOP is still looking for Obama's waterloo. Their stratagy seems to be ; do nothing, than claim Democrats aren't being bi-partisen even though bi-partisan meetings have been essential to this bill for almost two years. The GOP has taken partisanship to new levels.

    April 27, 2010 at 5:05 pm |
  15. Jack Pine

    Jack,
    Politics as usual, if the Democrats propose it the Republicans turn it down, if the Republicans propose it well you can figure it out. The people who are paying their wages are the losers. It is time to keep voting the incumbents out after one term until they figure out who they are working for. Its funny, 87% of voters don't like what congress is doing, yet they vote their reps right back in again. It is time for a viable third party to get elected.

    Jack
    Tennessee

    April 27, 2010 at 5:06 pm |
  16. Michael Armstrong Sr.

    There blocking for the same reason they passed the health care bill there's a battle between the republicans and democrats its not about the people any more .

    April 27, 2010 at 5:08 pm |
  17. Greg H - Minneapolis

    Jack, it isn't so much blocking the effort on the part of Republicans. Rather, they are not going to sit by and let Democrats RUSH more legislation through like they did with "health care." What are Democrats hiding that they keep pushing legislation on us, without adequate oversight by other members of Congress? We're not supposed to be living under a totalitarian socialist regime, we are supposed to be living under a representative republic. At least Republicans are trying to represent "we the people" rather than "we the selfish interests!!"

    April 27, 2010 at 5:08 pm |
  18. John Gill

    The party of NO is blocking something and you're surprised?
    They have only one agenda, To defeat this president any way any how.
    Does anyone really believe that they have the best interests of the country in mind. It's all partisan, all beatup on Obama, all the time. Face it and wake up.

    April 27, 2010 at 5:09 pm |
  19. Gail, Plano TX

    Jack: Further evidence of what I have been saying for months. That anyone who casts a vote for a Republican in any future elections is certifiable. They do not want to govern. Only wish to obstruct any legislation put forth by our President. The GOP want Obsma to fail. Did u forget that?

    April 27, 2010 at 5:10 pm |
  20. Brent

    Jack, when have the Republicans done anything constructive in the last 18 months?

    April 27, 2010 at 5:10 pm |
  21. Bryan

    It's obvious Jack: because it is an Obama bill, and the GOP will delay/stop/attack/deny anything backed by Obama.

    April 27, 2010 at 5:11 pm |
  22. John D

    It's pretty simple: the GOP cares about the GOP and their Wall Street constituency, not about the USA as a whole. They genuinely want Obama to fail and will act in lockstep to try to make it happen.

    April 27, 2010 at 5:11 pm |
  23. Karl from SF, CA

    They are doing it because they know the two-thirds of Americans won’t remember in November and vote them out of office. They’ll all be back in full obstruction mode. Their constituents don’t contribute to their re-elections or finance their Washington high-society life style with that poultry $174K salary, the banks do, so they have to be protected. It’s a sad commentary on the mentality of American voters.

    April 27, 2010 at 5:11 pm |
  24. Mark, OKC, OK

    Good! I think the Republicans should BLOCK every piece of legislation, every nominee to the court and even block The Obama's choice of pets if they can get away with it. Obama is out to ruin this country in every way. He shows our enemies that we are weak, he panders to "racial" groups and he is a piss poor example of a leader.
    Is any part of this unclear?

    April 27, 2010 at 5:11 pm |
  25. John Gill

    The party on NO says NO and you are surprised?
    The Republicans have one agenda only. That agenda is to defeat Obama anyway anyhow.
    They could care less about the American people. They proved that on health care reform. They prove it every day.
    No matter what comes down the pike, if it's for the benefit of us, the party of NO will just say NO.

    April 27, 2010 at 5:11 pm |
  26. Patricia Dickson

    oops you know why because they are a party off no that all to it.

    April 27, 2010 at 5:11 pm |
  27. Dee

    Because they can.

    Nothing nmore and nothing less, sheer obstructionism, and childishness.

    April 27, 2010 at 5:13 pm |
  28. paul

    These independent thinkers have been voting as a block since the salamander was in charge. They take their orders from their leaders who take their orders from ex Republicans such as Delay and Graham now employed as lobbyists representing big business. If any even try to step out of line they are crucified by the right wing media and denied financial campaign money by their own party. The only other organization that employs coercion and intimidation on this scale is the mafia.

    April 27, 2010 at 5:15 pm |
  29. Rob Finlay

    What's the rush in passing the bill? There are always two sides to the story and I would like to hear the other side for a change rather than it jammed down our throats like the health care bill.

    If they are going to pass a financial reform bill they better include reforms to quasi government agencies like Fannie Mae and Freddie Mac . Let’s also not forget it was Congress and the Senate that created many of the rules that Wall Street must follow.

    This is purely a political play by Obama administration. Can't wait for November.

    April 27, 2010 at 5:16 pm |
  30. kent, nj

    The republicans are blocking this bill because it is not real reform. It does not and will not end too big to fail because it does not break up the 6 big banks who control 63% of the u.s. gdp, it wil not end the derivatives casino, and the consumer financial protection agency will be inside the federal reserve headed by bernanke who sat by and watched the financial markets collapse and then gave the banks 23 trillion dollars of taxpayer loans at 0% interest. The federal reserve is the problem and they can't be part of the solution. What a joke on the american people.

    April 27, 2010 at 5:16 pm |
  31. Scott Stodden

    Because in my opinion Wall Street regulators fund the Republicans and support them during election time! This is wrong to block financial reform legislation when its needed in this country so badly so that consumers can be protected and Wall Street can be held responsible once and for all, the Republicans are dispicable in my opinion because they just don't want Democrats and President Obama to succeed!

    Scott Stodden (Freeport,Illinois)

    April 27, 2010 at 5:17 pm |
  32. Brent

    Jack, when have the Republicans done anything constructive in the last 18 months?

    Winnipeg, MB, Canada

    April 27, 2010 at 5:19 pm |
  33. gary saari

    That question is self explanatory. Two Republicans met with members of the financial community already to get tips on how to fight the proposed financial reform, so Goldman sachs and their cohorts can continue to gamble with the money of the American taxpayer which brought down not only our economy, but the economy of the world. It's the job of the Republicans to except the corporate lobby money and vote correctly to keep the corporate profits rising. It's not surprising how greed rules in the lives of corporate CEO's and the politicians who support the corporate agenda for their own profit.

    April 27, 2010 at 5:19 pm |
  34. JIM BOB

    I will put it this way two thirds of Americans opposed the Health Care Bill but President Obama shoved it down their throats. I don't blame the Republicans for not supporti9ng the bill. It will impose too much control over the financial institutions. Just another way to make this country socialist.

    April 27, 2010 at 5:19 pm |
  35. Bill Coggin

    Because they're doing the work of their masters (big banks, financial firms, big pharma, etc) and don't have time nor need to do the work of the American people.

    April 27, 2010 at 5:19 pm |
  36. Robert

    Jack,

    That 1/3 of Americans opposing reform include the only constituency the Republicans care about: Wall Street bankers.

    Robert

    April 27, 2010 at 5:20 pm |
  37. Harold In VA

    That's easy. They don't care about what 2/3 of Americans want. Those 2/3 aren't teabaggers.

    April 27, 2010 at 5:20 pm |
  38. Mike in Colorado

    Jack,
    It seems to me like it is just more of the same old No tactics. The GOP knows that the people are energized the longer a bill takes to get passed. It worked in their favor for health reform, so why not try it on financial reform. Soon enough you'll start seeing negative press coming on how evil the bill is and how many small businesses it will put out of business. Just the same old song and dance [luckily, a few moderate GOPers are coming out in favor of it, so this shouldn't last nearly as long as the HC bill].

    April 27, 2010 at 5:20 pm |
  39. Tom in Iowa

    The GOP constantly says they are for whatever it is they are blocking. Yet they never offer an alternative. They are constantly trying to appear as though they care about reform, yet are against everything that is brought up. If the GOP continues down this path of obstructionism they will be shut out in November.

    Tom in Iowa

    April 27, 2010 at 5:20 pm |
  40. Boots

    As a class of investments, derivatives appear to be defined as an investment in nothing concrete – aka, a gamble. At this point, the Republicans may as well rename themselves the Derivative Party

    April 27, 2010 at 5:20 pm |
  41. Nancy M., Tennessee

    The Republicans have carried their NO votes this far and I believe they will carry them all the way to November. They are determined to make the American public believe that everything that the Democrats want to legislate is wrong. After the GOP gets through putting their spin on this attempt at legislation, take another poll. The wishy washy groups will probably be against financial reform. For the life of me I don't see why these people who are siding with the Republicans against this administration can't see through the muck. It's getting ugly out there and a little ridiculous to boot.

    April 27, 2010 at 5:21 pm |
  42. Jim Blevins

    Money talks - Huge amounts of money talks very loudly.

    Jim, Craig, CO

    April 27, 2010 at 5:21 pm |
  43. Mike Oklahoma City

    Because the 1% of the population who's interests the Republicans care about do not want them to.

    April 27, 2010 at 5:21 pm |
  44. Ernie, Toronto

    Jack, The Repubicans will do anything to oppose whatever the Democrats do. Good or Bad, reasonable or unreasonable. They just have to be on the other side whether the majority of Americans want it or not. They simply don't get it. Period.

    April 27, 2010 at 5:21 pm |
  45. Ken in NC

    Republicans are being paid for their part time job by Wall Street and their full time job as Senators in the US Congress. As children, our mom always told us that if we were going to act stupid we should at least get paid for it. I wonder if they would be willing to take chickens in lieu of a congressional paycheck.

    April 27, 2010 at 5:21 pm |
  46. Eric Green

    Republicans represent some portion of the income spectrum: it could be that they represent the top 1/3 of earners. I'm not sure they can claim to have such grass-roots support.

    April 27, 2010 at 5:21 pm |
  47. Travis T

    The GOP is buying time so their cronies on Wall Street can analyze the bill to determine what they can manipulate and what they cannot, so that the GOP version still supports excess profits

    April 27, 2010 at 5:22 pm |
  48. Jafsie

    Jack, it seems to me that Republicans are getting so used to telling outrageous lies that are blindly adopted and followed by their followers that they've decided they can simply claim, "65 percent of those surveyed DON'T want stricter financial reform" and hope nobody notices!

    April 27, 2010 at 5:22 pm |
  49. Nikki King

    Republican are out of line, course and out of reality. They never support what "your everyday Americans want" because they are above the economic crisis. If they were truely affected, they will act and because they are not, they profit from this crisis

    April 27, 2010 at 5:22 pm |
  50. Linda in Arizona

    Are you as naive as you sound? Republican obstructionists (affectionately known as the Party of Treason), don't care what the American public wants. They have only contempt for all of us "useless eaters". They are the true elitists. They hate Obama, and they will do ANYTHING to make his presidency a failure. They invariably put self-interest (i.e. the interests of the RICH) ahead of the national good. That is treason by anyone's standards. Not only that, they are protecting the Wall St. and corporate moguls they all work for. They can't afford to have real regulation or protections for consumers. And don't be fooled by Obama's act either. His job is to talk a great game and then cave to the republicans. Watch him. He does it every time.

    April 27, 2010 at 5:22 pm |
  51. Brant Powell

    For the last decade the Republicans have ran on the platform that reform and regulation stifles business. This is very wrong and it is time someone fights for the US consumer and the taxpayer. It has been so long that we've fought for and catered to the American Business man in support of capitalism, but even the greatest of ideas require someone to govern and referee the big and powerful so the smaller and less connected don't get eaten alive.

    Brant Powell (Seattle, Washington)

    April 27, 2010 at 5:22 pm |
  52. Darrell Wright

    Goldman Sachs is in Bed with the Republican Party. This has been shown many times from many Senators, and many other sources. This was even part of the subject material in Michael Moore's latest film "Capitalism: A Love Story". We no longer have any voice over our government - Goldman Sachs Does.

    Strange enough, Michael Moore's film warned about Goldman Sachs way before the latest scandal broke.

    April 27, 2010 at 5:22 pm |
  53. Alex

    Isn't the answer obvious? The underlying reason why the GOP is opposed to the financial bill when 2/3 of America wants it is because the Democrats are in change. If house republicans had proposed this bill, the GOP would be all for it, regardless of values. Likewise, if the GOP had proposed the idea, more dems would more likely oppose it. Unfortunately, we suffer from a terminal political disease in the US–partisanship.

    April 27, 2010 at 5:23 pm |
  54. Birddog in Mississippi

    Because the GOP wants to be able to put loopholes in the bill behind closed doors. Republicans want to do everything they can to allow Wall Street to keep on working like a casino so that they can get campaign donations for the Fall. They don't give a whit about what is best for the country, they care about winning at all costs.

    April 27, 2010 at 5:23 pm |
  55. Charles

    Because the Republicans don't want there financial piggy bank disrupted, they will fight against anything that go against the Status Quo.

    April 27, 2010 at 5:23 pm |
  56. troy, Billings MT

    Jack, the people who have bought and paid for those GOP Senate votes are the same people who sacked our treasury on the Bush administration's watch...with the Obama administration's blessing. When the rubber meets the road, the Senate GOP will never bite the hand that feeds it...the same hand that keeps funding GOP election after election. I never thought I would say this Jack, but I am beginning to think the only way to change things is to impose term limits that prevent candidates on both sides of the isle from digging themselves in like ticks on a dog, and serving the interests of the narrow minority that can afford to keep buying them elections

    April 27, 2010 at 5:23 pm |
  57. Michael in Scottsdale

    Money talks and wall street has our government in their pockets. There is no accountability for our government officials so why would they care.

    April 27, 2010 at 5:23 pm |
  58. honest john in vermont

    The GOP is lost and can't do anything but say NO. Because the GOP is anti-Obama and anti-President and they will oppose anything that Obama tries to do. But come November we voters will remember them by voting against them. I don't caremuch for the Dems, but the GOP is a joke.

    April 27, 2010 at 5:24 pm |
  59. Michael n Seattle

    follow the money republicans saee millions comming into their campaign coffers
    why would they want to debate when it's the cowardly way to just say no, therefore they can't be recorded on stupid ideas

    April 27, 2010 at 5:24 pm |
  60. Max Wilson

    The republicans keeping touting "what's best for the American people" yet its is painfully obvious that the republicans are all about muting the president than about what we want or what's best for the country.

    April 27, 2010 at 5:24 pm |
  61. U. E. Bush

    Do you really need to ask Jack.? Everyone knows its L-O-B-B-Y-I-S-T money.
    How many of them get the big bucks from the financial world?
    Someone needs to check into their payoffs and not just the Republicans.

    April 27, 2010 at 5:24 pm |
  62. George

    Hello,
    I guess with the one-way street the Democrats went with the health care against the Republicans, I guess this rejection is no surprise. Still waiting for a day where the parties put tax paying people first, serve them and then deal with their egos.
    Regards
    L.George
    Mangalore,India

    April 27, 2010 at 5:25 pm |
  63. Stella from Chicago

    Because they want Obama to fail, they will not support any of his reforms.

    Right wing extremists politics. Period.

    April 27, 2010 at 5:25 pm |
  64. Jeremy D from MI

    Because regulating business is against the conservative philosophy. Right now republicans are unfortunately run out of the party for being moderate/centrist. This is unfortunate because there is a large majority of right leaning moderates like myself in the country.

    In response to Scott Stodden's comment about wall street funding democrats: democrats get more funding by wall street, and are just as partisan as republicans. Think outside the box.

    April 27, 2010 at 5:25 pm |
  65. Alan

    In China, corrupt bankers would be executed. These crooks at Goildman Sachs, and they are precisely, crooks, need to be dealt with on the harshest level our legal system can hand out.

    April 27, 2010 at 5:25 pm |
  66. steve ohio

    Is it that surprising that the party favoring the fortunate few would stand in the way financial reform? Same old tricks,jack.

    April 27, 2010 at 5:25 pm |
  67. Malcolm

    The GOP is continuing to put politics above country – Shame!

    April 27, 2010 at 5:25 pm |
  68. Fred Mitchel

    The Republicans represent the wealthiest 2-3% of the people of this country, and are protecting them. The Republicans know how easily the American electorate can be B.S.ed with scare tactics, attack ads, and outright lies during election campaigns, so why should they worry?

    April 27, 2010 at 5:25 pm |
  69. Patricia Hill

    Hey, cut the GOP some slack. It takes time to re-configure the lockstep programming of forty-one "Just Say No" senators. Now that polls show a 2/3 majority in favor of legislation, I'm sure their tech guys are tap-tap-tapping away behind the curtain, and that the GOP 2.2 will emerge after a few more days, ready to vote.

    Patricia
    Arlington VA

    April 27, 2010 at 5:25 pm |
  70. Bryan in San Diego

    Jack,

    The GOP doesn't want to move forward on Finance Reform because the Republican Party has always been more concerned about protecting Big Business than they have been about protecting you and me. That's how we end up with Exxon Mobil not paying a dime of taxes on $39B in Profits and a perpetual Casino Night on Wall Street. They are the Party of "No" alright... as in, No Financial Reform, No Protection for Consumers, No Compassion for those who've lost everything and No Desire to do anything except Nothing.... This isn't a Two Party System... It's a One Party System... The GOP has taken its toys and gone home to pout...

    Bryan in San Diego

    April 27, 2010 at 5:26 pm |
  71. Kevin in Atlanta

    What a loaded way to ask the question. Why not ask, "Why do the Democrats want to push through yet another terrible piece of legislation?" I would prefer these politicians actually try to work together for a meaningful bill rather than push through more garbage. It is obvious watching the hearings today this is all about politics and little about actual reform.

    April 27, 2010 at 5:26 pm |
  72. Richard in Florida

    Come on Jack.. Get serious. The Republicans thought voting no on Health Care reform was cute. So they are just going to keep voting no. They truly do not get it. Sorry but they all need to go.

    April 27, 2010 at 5:26 pm |
  73. Evelyn, St Louis

    I think it is wrong for the Republicans to fail to give their support of the financial reform legislation. It seems they (the Republicans) agree with Rush Limbaugh – they want the Obama Adminstration to fail. They are some awful people. More for themselves than mainstream Americans. They will be the ones who fail. Like the President, I believe he has a divine wind at his back!!

    April 27, 2010 at 5:26 pm |
  74. Phil

    It should be obvious to everyone by now. If the Administration is in favor of a legislative issue the GOP automatically is against it. I hope voters remember the obstructionists in Congress this fall when it is time to go to the polls. The GOP's delaying tactics have left precious little time to spend on a myriad of problems this country faces.

    April 27, 2010 at 5:26 pm |
  75. Vincent OBrien

    Why do the Republicans oppose Financial reform ? Thats what they get paid to do. Why did they oppose health care, same reason. Plus their aggenda as so-called lawmakers is to oppose and delay anything the Obama Administration puts up. The people do not count, it all about regaining power.

    April 27, 2010 at 5:26 pm |
  76. Eric - Columbus Ohio

    Because the party of NO has been told by their employer (Wall Street) to prevent reform at all cost. Cost that will eventually end up in their pocket as Wall Street's Thank you

    April 27, 2010 at 5:26 pm |
  77. Michael Light

    Hi Jack, the gop want to block reform because they won't have the money to keep their penthouses . muchless get reelected.

    April 27, 2010 at 5:26 pm |
  78. Erick

    Wow Jack, you are pitching us softball today- the easy answer is the truth, they are no longer Americans. They have passed healthcare reform, from which they stand apart ( a no-no for anyone paying attention to, you know, our whole countryand way of life thing)- they could not be less in touch with the "Average American", they are socio economic elitists whose sole purpose for existence lies in maintaining the status quo.

    April 27, 2010 at 5:27 pm |
  79. Manuel Mota, M.D.

    Very simple Jack:
    Pure Math. The population of Rhode Island, Delaware, Vermont, Montana, Maine and New Hampshire combined are less than California or New York alone. Unfortunately, their 12 senators have a lot more power than 2 senators from California, New York or Texas.
    This is the disconnect between what the polls show and what the "representative of the people do." They really represent interest that are not those of the majority.

    April 27, 2010 at 5:27 pm |
  80. Dana P.

    I think it is simple the GOP wont this president to fail so much they would vote no if he asked for a bill to insure we have free air to breathe. Party and power first country last.

    April 27, 2010 at 5:27 pm |
  81. wiley mitchell

    your right jack when was the last that any politician listened to the american people,maybe at election time.i think its about time to clean them all out&start over.they do listen to thier rich friends. plant city,fl.

    April 27, 2010 at 5:27 pm |
  82. tfhr

    To answer your question about Republican opposition to the current Democrat proposals regarding financial "reform", do you suppose it could be because Republicans, as well as others, have little faith in the ideas advanced by men like Christopher Dodd and Barney Frank?

    If you think those two don't share in the current mess – along with the likes of Goldman Sachs – then maybe you're the wrong person to be asking about their motives.

    tfhr
    Washington, DC

    April 27, 2010 at 5:27 pm |
  83. Jim

    I tend to wonder what Harry Reid's big hurry is. And I think in part that the Republicans are right in not wanting to be pushed in to another piece of major legislation. There are numerous signs indicating that a bipartisan agreement may be reached. So what's Harry's hurry? They got in a big hurry and had to "settle" on health care reform that was without a public option. Quit hurrying to only "settle".

    The Republicans cannot afford to continue to be the party of "No" when so many Americans have been hurt by Wall Street and by the banking industry. We need solid and effective leadership in Government. What we don't need is games played by either side of the aisle.

    April 27, 2010 at 5:27 pm |
  84. Mike

    If the botched stimulus and disaster health care bill are any guide, the rush to 'do something' will result in yet another bill that doesn't solve the problem. As you so convieniently ignore, bipartisan negotiations are close to an agreement. Why Reid can't wait a few days is solely due to politics, grasping at straws to mitigate the coming Democratic bloodbath in November. A bill will be passed in a bipartisan manner, and no one will remember that Republicans held it up a few days.

    April 27, 2010 at 5:28 pm |
  85. Doug

    Jack,

    The answer is the same for why Goldman Sachs spent so much money lobbying Democrats last year. Because the Republicans were already IN Goldman's pockets, and lobbying was not necessary. Republicans used to represent small government, now all they represent is GREED, and religious radicals. Watching the Senate hearings are like watching idiots asking idiots who farted.... All we know is it stinks!

    Why aren't the American people holding hearings to understand why the SEC failed? , I mean honest street level people. What you guys like to call Mainstreet.

    April 27, 2010 at 5:28 pm |
  86. A.B.

    It's simple jack. The Republicans are in the back pockets of wall street and are hired guns who will do the financial industry's bidding every time. This is one more reason among many why the American people need to keep the Republicans out of power in perpetuity. The Republicans are defying the will of the American people for financial reform. President Obama and the Democrats are putting the American people and the country first.

    April 27, 2010 at 5:28 pm |
  87. Bill Miller

    The Republicans are not going to shut the gate that they opened when they passed Gramm-Leach-Bliley Act in 1999. It was that legislation which they "Shoved down the throats" of the American people that allowed this mess.
    They were paid well to open the gate and they are being paid well to keep it open.

    April 27, 2010 at 5:28 pm |
  88. Gayle

    The republicans want to see Obama fail. It doesn't matter what is brought to the table. They're going to put their nay vote in.

    April 27, 2010 at 5:28 pm |
  89. shelly

    Jack it's simple. If I offer to pay you to mop my floor and you mop it with a dirty mop, you have done the job I asked you to do. The main problem remains. I have a dirty floor, and you have my money. The GOP wants the reform. They just don't want it done with a dirty mop.

    April 27, 2010 at 5:28 pm |
  90. Frank

    Where is the honesty in journalism. Public opinion is now important ? When it was 62% opposed to the Health Care bill it was not important. Now that it is 62% in favor of a democratic bill it is important and outragious that Republicans are not listening. This is Hipocracy at its best.

    April 27, 2010 at 5:28 pm |
  91. andy madtes

    jack,
    did you not know that two thirds of the congress are in the banking business. the fox is watching the hen house.

    April 27, 2010 at 5:29 pm |
  92. Matt/California

    Probably because when the present Administration and Democrats in Congress claim to be crusading AGAINST "fat cats", the "fat cats" end up making a bundle out of the deal. Look what happened with the so-called "reform" of health insurance: Democrats passed, and Obama signed, a bill drumming up gazillions in new business for the very companies they claimed to be crusading against. Words from politicians are just that - words. By the way, I don't see any big rush from Democrat pols to give back contributions they willingly took from people at Goldman-Sachs...

    April 27, 2010 at 5:29 pm |
  93. Tom, Vermillion, Ohio

    The reason for this so called blockage is quite simple, this investigation should it go deeper will undoubtedly uncover the true relationship between Washington and Wall Street. The Senators are "scared" of the final outcome. Their guts must be full of holes.

    April 27, 2010 at 5:29 pm |
  94. Political Hector

    Republicans and democrats are alike when it comes to defending Donors, what republicans have more to loose if Financial regulation was to pass. What they want to do is block everything that democrats are doing, so that by the November elections they can run against Democrats and accuse them of not getting things done. they use the same tactics when they know they have a lot to loose, and of course tea baggers back republicans because they have a lot to loose. C'on Democrats are playing Robin Hood.

    April 27, 2010 at 5:29 pm |
  95. Jorge, miami

    Simple, because republicans do not care about american people, just look back on healthcare reform.
    The only argument they have against everything is Socialism, They no have any reasonable iniciative to fix the way that "we're no living" rigth now, they're happy destroying our system now, just because health business, wall street and on provide enough money to keep them in public office seating back of american people.

    April 27, 2010 at 5:29 pm |
  96. DEBORAH BALLWEG

    Instead of a knee jerk reaction to the GOP on the reform bill, perhaps people should look closer at the language. What actually does it say? Are there more back ally deals? Liberals only want to villify the Republicans. Under those circumstances, the problem may not be us, it may be them.

    April 27, 2010 at 5:29 pm |
  97. Sharon Lattis

    What? The Party of no? Republicans are counting on the short memory of most Americans. They figure by the time elections roll around unemployment will still be high, health care reforms will not not be in effect, and they can blame the current administration for all that is wrong. They intend to block as much as they can and the merits of change don't matter.They only care about getting back in power.

    April 27, 2010 at 5:31 pm |
  98. frankie

    The Congress works for the American people, and I have started taking it very personally how much of my time the Republicans are wasting.

    April 27, 2010 at 5:32 pm |
  99. Tim in Texas

    They hate the bill because it is an implicit acknowledgment that government is necessary, and their whole argument right now is that no government is good government.

    April 27, 2010 at 5:32 pm |
  100. D. Keatz

    The republicans are doing what they have done best that got us in this economical mess in the first place. Why anyone would want to put the republicans back in power come this November escapes me. Obama may not be perfect but I trust him more than the GOP tenfolds.

    April 27, 2010 at 5:32 pm |
  101. vj

    Jack, it is simple. GOP did not do a dam thing for the last 8 years when Bush was in the WH. Now they don't want give any credit to OBAMA for cleaning up their mess. It is time for us to clean up the GOP in the next election. They are nothing but to do nothing party.
    VJ
    Hayward

    April 27, 2010 at 5:32 pm |
  102. john barichivich,jr.

    John – Zachary, La.
    Jack = All Republicans are voting against the Financial Reform in hopes of gaining the respect of the electorate. The electorate, however, can see through what they are doing. Their motives, in my opinion, are their own and not in the best interest of all Americans. When can we get legislators of both parties to vote for what is best for the country, or even their districts, instead of proceeding in lockstep???
    jb

    April 27, 2010 at 5:32 pm |
  103. Dutch

    Jack,
    it's a no brainer the GOP has always been for big business and could care less about the little guy. Why would they kill their golden goose! November is not too far away and big money will be coming their way!

    April 27, 2010 at 5:33 pm |
  104. Glenda

    What else can we expect from Congress. If we put a big fat roll of money in their pocket they would do what we, the people, want. As long as the "big business" lobby and the "big insurance" lobby pour money into the U.S. Congress "collection plate" they will get whatever they want from Congress. Congress is like my dog.........he follows the person who has the best treat in their hand. It's a sorry situation, but it is not going to change until we, the people, put some teeth in our vote.

    April 27, 2010 at 5:33 pm |
  105. Brian (From Chicago)

    Blocking is what they do best Jack. It's helped them politically thus far so why change now. In addition, John McCain said the Senate Republicans would not work with the President on anything else the rest of the year, and they are proving it. Even if it is for the good of the people.

    April 27, 2010 at 5:34 pm |
  106. Dean

    This one is a no-brainer. The Democrats have proposed regulation that doesn't include Fanny May and Freddie Mac the cause of the financial meltdown domino effect that spread to Wall Street. The Democrats aren't doing anything about Fanny and Freddie because they are responsible for the problems there. Clinton pressured Fanny and Freddy to issue those NINJA loans and then the Dems in Congress lead by Barney Frank and Maxine Waters obstructed the Bush administrations attempts to regulate Fanny and Freddie. Now they are trying to shift the blame for the problems without addressing the 800 lb. gorrila in the room. Who caused the problem, Goldman or Democrats in Congress. Have they taken responsibility? No!

    April 27, 2010 at 5:34 pm |
  107. Sam Dallas

    This is simply their strategy, delay, footdrag and at the same time pollute fickle minds with lies. 65% of Americans need Wall-Street reform now, yet the Republicans doesn't even want the bill on the floor of the senate for debate, so where is the anger of the TEA PARTY Movement or don't they speak for millions of Americans anymore?. Apart from the lies they have started to peddle arround, that the Wall-Street reform will kill freedom of Advertisement, this right wing grassroot Reupblicans base has remained silent. I hope the Democrats have learnt their lessons form the healthcare reform debate.

    April 27, 2010 at 5:34 pm |
  108. Frank

    This is political showmanship by the Democrats holding a vote while there are bipartisan talks going on. It shows that they believe that the American People are ignorant and that they will not see through the politcal games. Arogance. Wake up sheeple.. your being led to slaughter under the weight of a gigantic government.

    April 27, 2010 at 5:35 pm |
  109. Greg Benson

    The reason is actually very simple. The Republican Party has always represented corporate America dating back to the 1920's. Their basic philosophy is to this day very much in accord with Andrew Mellon, the former Secretary of the Treasury in the 20's....That being, that it is critical for the nation to serve the interest of the rich and somehow everyone will eventually be better off. It does not work that way and it never will.

    April 27, 2010 at 5:36 pm |
  110. Commelita

    Jack, Jack, Jack...if the Republicans were serious about ANY reform, be it financial, healthcare, or otherwise, they would have done it, oh somewhere in the last 8-10 years. Does anyone in America, but me remember what party caused this collosal mess?! Trusting the Republicans is like handing matches to an arsonist and hoping he/she doesn't burn the house down....AGAIN!

    April 27, 2010 at 5:36 pm |
  111. Jeremy

    Because it goes against the conservative philosophy (second attempt to post).

    April 27, 2010 at 5:36 pm |
  112. Jackie

    This amazes me, you think the people know best now, but during the health care debate the people didn't want that but never heard you condemn the democrats! I am an independent that voted for Reagan and Clinton. Good reform is needed but I wouldn't criticize the GOP because of your politics!

    April 27, 2010 at 5:36 pm |
  113. Manteca Mike

    The only votes Democrats need are from "...young people, African Americans, Latinos & Women..." This has nothing to do with reform, just painting more "Rich-White-Men" as Criminals, and continuing the class warfare.
    Dodd is the most crooked politician currently serving (since Rangle stepped aside), I wouldn't let him near my kids piggy-bank.

    April 27, 2010 at 5:37 pm |
  114. dan

    Layoff half of gop and use there income to pay back the debt. Maybe the others will wake up.

    April 27, 2010 at 5:37 pm |
  115. Stuart Groten

    It amazes me to hear just another obstrutionist action of the Republican party. I am baffeled how thinking people continue to elect reepresentatives whose sole purpose is to block anything that is good for the people. Isn't it time to "Kick the bums out"?

    April 27, 2010 at 5:37 pm |
  116. Harvey

    Lobbyist Money and personal reed at the expense of American Citizens.

    April 27, 2010 at 5:38 pm |
  117. Jaxk Hopkins

    Jack: It is very clear that the GOP is not the Gov. of the people but the GOPand Lackys / puppets of Big Business like AIG & Wall Street. They are not for the middle class, middle America who pays their salaries. Big business does not; they rape the middle class as they are America and planet earth.

    April 27, 2010 at 5:38 pm |
  118. Chaney, La.

    It means its a good idea until Obama puts his name to it then its, Hell No......

    April 27, 2010 at 5:38 pm |
  119. IKHAN san jose ca

    Hi Jack,
    what else would you expect from the Obstructionist Party.They have nothing to offer this nation & this is the only strategy that they have.

    Believe me nothing is going to happen to those glorified crooks on Wall Street, they are protected by these goons in the Obstructionist Party.
    These fat cats are also protected by those politicians who while professing to work for us hold "dual loyalty", that is watching interests of a foreign govt & its sympathizers.
    And yes they are there on the Hill.

    April 27, 2010 at 5:39 pm |
  120. Jasmine in Germany

    It is to be expected that Senate Republicans would prefer to block financial reform legislation: 1) Such reform involves many of their cronies, and ol' boys clubs like things just the way they are. They prefer to justify personal wealth over the economic health of an entire nation. 2) Putting a feather in Obama's cap isn't on the top ten list for the GOP.

    Gosh Jack, I believe that the executives of Goldman Sachs put their personal and corporate greed above the well-being of our country. It is clear that such insider habits can even affect national security (this is illegal in most industrialized nations). Financial reform including better monitoring of the financial system is overdue. How about if the GOP truly puts "country first" instead of "party first"? Nah, they would still prefer that that the President fails.

    April 27, 2010 at 5:40 pm |
  121. Harvey

    Lobbyist Money and personal Greed at the expense of American Citizens.

    April 27, 2010 at 5:42 pm |
  122. Frank

    This is political showmanship by the Democrats holding a vote while there are bipartisan talks going on. It shows that they believe that the American People are ignorant and that they will not see through the politcal games. Arogance. Wake up sheeple

    April 27, 2010 at 5:44 pm |
  123. Jasmine in Germany

    Because they do not understand the definition of the word "treason", Jack; the crime of betraying one's country.

    April 27, 2010 at 5:44 pm |
  124. John, SF Bay Area, CA

    Jack

    Because the wall street people paying the Republicans don't agree with the wall street people who are paying the Democrats on the final bill.

    The one thing assured is that the real language will benefit wall street while the sound bites consumed by the general public will make it look like the bill will never let what happened ever happen again.

    Our system is broken because of the greed that is at every level.

    John
    SF Bay Area, CA

    April 27, 2010 at 5:45 pm |
  125. Jim in Alabama

    In my opinion, the Republicans are cutting their own throats when they could have an advantage in the upcoming elections by cooperating on this bill. However, it would be unbecoming to the party of NO to break their special interest loving record. At least they're sending a clear message to the electorate on whose side they're on. It's not main street.

    April 27, 2010 at 5:46 pm |
  126. Ralph Spyer

    The government reform the market after the S and L melt down, did the tax payers lose millions back then. The reforms are like ground hog day I keep wakeing up to wall st hawks circling my poultry ranch

    April 27, 2010 at 5:48 pm |
  127. San Antonio rose

    The Republicans have always been the party of the rich. And since Wall Street is all about money of course the Republicans will do anything and everything to protect them, The Democrats have always been more sympathetic to the middle class and poor people. They are more fair.

    April 27, 2010 at 5:50 pm |
  128. Ken in NC

    Jack, Republicans favorite movie was Forrest Gump and they are acting in his immortal words: ’STUPID IS AS STUPID DOES”.

    April 27, 2010 at 5:52 pm |