Vote Two on Financial Reform Fails

Washington, D.C. (Apr 27) – Senate Republicans successfully blocked the measure to place Wall Street Financial Reform to the floor for debate for the second time.

What this actually means is that the bill will not go anywhere until major concessions are made to the Republican Parties wealthy Wall Street political backers. President Obama has already made a point that if certain provisions were removed from the bill, he would veto it.

Only three major pieces of legislation have made it through both bodies of Congress this year, and it would appear that Financial Reform would not be one of them. Without this much needed piece of legislation the nation’s economy will continue to hinge upon the choices of a very few members of the industry to which, many stand to date prosecution, or Congressional investigation for their roles in the collapse of some of the largest financial institutes in America.

Thousands of mortgages have failed at the hands of those the Republican Party refuses to rein in and instead, collect large political contributions to further the self-destructive economic policies this nations has witnessed during the past administration.

Those awaiting help with unemployment extensions can see many of their hopes of assistance placed on hold over these obstructionist tactics taken by the Republican Party.

Posted by rgrone on April 27, 2010. Filed under Banking and Finance,economic recovery,economy,Money,National News,News,Politics,Right Wing,WorldNewsVine. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.