The Early Word: Financial Fights New York Times (blog)
Senate Democrats will try for the third straight day to bring a financial overhaul bill to the floor for debate, after Republicans blocked it twice.
Like clockwork, Republicans are expected to try the block the bill once more.
It’s probably not the way most of us would play charades, but The Times’s Edward Wyatt and David M. Herszenhorn write that both parties believe their actions will pay off politically. While Democrats seek to use the procedural votes to align Republicans with Wall Street and the effort to block an overhaul, Republicans have put forth a narrower alternative bill that they say will protect consumers from the “unintended consequences” on Walls Street of the Democrats’ bill.
Democrats also sought to use Tuesday’s Senate inquiry into the Securities and Exchange Commission’s lawsuit against Goldman Sachs to their advantage. As The Times’s Carl Hulse put it , Democrats juxtaposed “the image of millionaire bankers parrying suggestions of greed and malfeasance with Republican determination to at least slow a bill calling for tighter regulation.”
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