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Reid Files Cloture on Financial Regulation Bill

5:32 PM, Apr 22, 2010 • By JOHN MCCORMACK
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Politico reports:

Senate Majority Leader Harry Reid (D-Nev.) said Thursday that he will not wait for Democrats and Republicans to reach a bipartisan compromise on a Wall Street reform bill, scheduling the first key test vote for Monday.

“I’m not going to waste any more time of the American people while they come up with some agreement,” Reid said. “The games of stalling are over.”

The move puts pressure on Senate Banking Committee Chairman Chris Dodd (D-Conn.) and Alabama Sen. Richard Shelby, the ranking Republican, to reach some resolution on their bipartisan talks. Both senators have said they were progressing towards a deal, but Republicans have suggested that they would need more time than Democrats are willing to give.

Senate Minority Leader Mitch McConnell (R-Ky.) rebuked Reid’s decision to push ahead.

“Here we go again,” McConnell said on the Senate floor. “The majority leader is once again moving to a bill even while bipartisan discussions on the content of the bill are still under way. … I don’t think bipartisanship is a waste of time. I don’t think a bill with the legitimacy of a bipartisan agreement is a waste of time.”

Here are some of Matt Continetti's writings on financial reform:

In Dodd We Trust?
Larry Lindsey on Financial Regulation
Danger, Danger Republicans!
Dodd v. McConnell
The Case for Financial Reform

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