The Senate's first vote on reform of the banking and finance industry failed on Monday evening, with Republicans voting unanimously to block the bill. But almost two-thirds (65 percent) of Americans support stricter federal regulations on banks and financial institutions, according to an ABC News/Washington Post poll. And a majority (53 percent) even supports the creation of a bail-out fund for banks, which is the Republicans' main beef with the current version of the bill. Is the GOP on solid ground in opposing the bill? (Watch an AP report about the GOP filibuster)
The GOP is just sending a message to their base: senators are trying to reassure conservatives "they’re willing to stand up against" government bailouts, says Allahpundit in Hot Air. But the resistance is token — everyone knows "negotiations will continue," and Republicans will ultimately play ball. "There’s no hardcore majority opposition for this the way there was for O-Care."
"Oh my: GOP filibusters Dems' financial reform bill"
They're misdirected — and the Dems need to go on offense: Even with the public on their side, says Mike Madden in Salon, Democrats insist on "trying to woo Republicans" to support the bill. Why bother? The onus is now on the GOP to "cut a deal" and avoid looking as if they're in the pocket of Wall Street.
"Bank reform politics could still backfire on Democrats"
The GOP should be pushing reform, not opposing it: The Republicans are missing a golden opportunity here, says Matthew Continetti in the Weekly Standard. Think of the political advantage to be gained by arguing "this bill doesn't go far enough." They aren't playing the hand they've been dealt. My advice? "Call the Democrats' bet. Then raise it."
"The financial reform mind-meld"
The Republicans aren't risking much: The GOP isn't worried about the "political price" of Monday's vote, says John Dickerson in Slate. Because "while Wall Street is unpopular, so is the federal government." When the legislation inevitably passes, Republicans will just claim they turned it "into a sensible bill."
"Too big to fail"
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- How U.S. special forces are preparing for the worst-case scenario in North Korea
- Here's the schedule very successful people follow every day
- I hate Ayn Rand — but here's why my fellow conservatives love her
- What would a U.S.-Russia war look like?
- Why you shouldn't eat dog. Not even once.
- The danger of the Democrats' lack of desperation
- Hey, Paul Ryan's new poverty plan isn't completely terrible!
- 7 grammar rules you really should pay attention to
- The 11 worst fast food restaurants in America
- Girls on Film: Lucy is the shot in the arm the superhero genre needs
Subscribe to the Week