Republicans Block Debate on Financial Reform, Reid will Try Again

After the failed attempt to begin debate on financial reform — the Democrats couldn’t get the 60 votes they need — Harry Reid is going to try again later today. The result is not likely to be any different, the game here is to generate negative headlines for the GOP and, hopefully, get them to back down on their opposition. If today’s vote fails, another vote is being set up for Wednesday.

I’m not sure who will win this battle, or that it will do much to rein in the financial industry if reform does pass in its current form, but it’s hard to imagine the Republicans looking good on this one.

About Mark Thoma 243 Articles

Affiliation: University of Oregon

Mark Thoma is a member of the Economics Department at the University of Oregon. He joined the UO faculty in 1987 and served as head of the Economics Department for five years. His research examines the effects that changes in monetary policy have on inflation, output, unemployment, interest rates and other macroeconomic variables with a focus on asymmetries in the response of these variables to policy changes, and on changes in the relationship between policy and the economy over time. He has also conducted research in other areas such as the relationship between the political party in power, and macroeconomic outcomes and using macroeconomic tools to predict transportation flows. He received his doctorate from Washington State University.

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