Word: republicanization
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...BUNNING, Republican Senator from Kentucky, who held up a Senate vote on extending unemployment benefits for nearly a week before finally relenting on March...
...stars, in other words, were not exactly aligned for a backroom bipartisan deal. Dodd tried anyway - first with Richard Shelby, the ranking Republican on his committee, and after that crashed and burned, with Corker, a junior member of the committee who seemed more open to a compromise. Over the last several weeks, they did manage to reach agreement on some less controversial elements of reform, such as systemic risk regulation and rating agency liability, but it was never clear how they would bridge fundamental differences like the consumer agency, derivatives regulations and shareholder protections. When I spoke to Corker last...
Senate Banking Committee Chairman Christopher Dodd announced Thursday that he can't keep negotiating a financial reform compromise with Republican senator Robert Corker, because the process needs to go faster. Corker then declared that he was "very disappointed" the talks had broken down, and that the process needs to go slower...
Dodd is right that he can't try to shimmy past a filibuster in an election year by cobbling together 59 Democrats and a Republican; it's probably hopeless, and certainly hopeless without cutting unsavory deals like the toxic Cornhusker Kickback on health care. But weakening the bill won't get him to 60 either; it will just alienate Democrats committed to reform in the House as well as the Senate, while most Republicans will still find some reason to oppose...
...only hope for consensus is a bill that takes an unmistakably tough line on Wall Street, which could end up striking a political chord and persuading recalcitrant Republicans and unenthusiastic Democrats that they have to support it if they don't want to look like Wall Street apologists. Again, this is not a likely scenario; the health care experience suggests that even preposterous attacks on complex legislation can provide cover for opponents, and Republicans are already starting to portray tougher financial rules as a new Wall Street bailout. But this is at least a plausible scenario; a Harris poll released...