Financial Bill on Hold

Earlier today Republicans voted in a block to prevent the financial oversight bill from reaching the floor for debate. Republicans argued that while they want to eventually pass financial reform, the Democrats were rushing too much. Efforts on financial regulation are expected to be important in the midterms as the economy is slowly--but visibly--beginning to recover, and could help Democrats keep seats in the election.

The New York Times provides a good overview of the events as well as the bill itself.

The article also showed various tactics that senators were using, which brought back memories of the simulation. Below are two examples:

"Sensing political momentum at a time of deep public anger at Wall Street, Democratic leaders said they would keep the regulatory bill on the floor — and delay the rest of their busy legislative agenda — to ratchet up the pressure on the Republicans"

"At the last minute, the Senate majority leader, Harry Reid of Nevada, switched his vote to side with the Republicans — a strategic maneuver that would allow him to call a repeat vote, which is expected on Tuesday"