Posted on 04/28/2010 1:21:29 PM PDT by OldDeckHand
She read me the statement, they are not letting the bill go to the floor.
__________________________________________________________
Hey don’t misunderstand, this is something I’d love to be wrong about!
But lets ask ourselves why we’re so likely to believe these chicken SH** postures by our own side? It’s because we’ve watched our party cave to these traitors time and time again!
Sorry, but my money is that the GOP selling out...HOPE I’M WRONG!
You know, I think a healthy purge of all current GOP members would be very healthy!
There’s something about the sh** hole of DC that rots good people’s minds!
Well, there is always the possibility that Shelby "Loves him some earmarks."
Statement on Shelby’s webiste:
U.S. Senator Richard Shelby (R-Ala.), today made the following statement regarding financial regulatory reform negotiations.
“I thank Leader McConnell and my Republican colleagues for providing an opportunity for my negotiations with Chairman Dodd to run their course. I believe we owed the American people our best effort to make whatever changes we could to this incredibly complex piece of legislation because it will have wide ranging implications for our economy. Chairman Dodd has assured me that he will address a number of concerns I have expressed with respect to ending bailouts. We have been unable, however, to make any meaningful progress on other important components of the legislation. It is now my belief that further negotiations will not produce additional results.
“This bill still contains a sprawling new consumer protection bureau that will find and force its way into facets of our economy that had nothing to do with the housing crisis. This massive new bureaucracy would have unchecked authority to regulate whatever it wants, whenever it wants, however it wants. I am aware of no other arm of the federal government this powerful, yet so unaccountable. In my negotiations with Chairman Dodd, I have consistently supported strengthening consumer protections. I have also advocated for a sensible and meaningful role for safety and soundness regulators in this new agency’s operations. Unfortunately, despite my demonstrated willingness to propose compromise solutions, this sensible step has proved to be a bridge too far.
“Also included in this legislation are critical provisions relating to derivatives. These provisions, which Democrats developed on their own behind closed doors, were only very recently inserted into the bill. In fact, I was not provided the opportunity to share my views on a single aspect of the derivatives provision. While I firmly believe we must end the casino-like atmosphere on Wall Street, I also believe we must protect Main Street’s ability to create jobs and grow the economy. In my judgment, the provisions as currently drafted would have far-reaching and devastating effects on these businesses and our economy, increasing the cost of nearly every product we use and negatively impacting job growth.
“Although I am disappointed that we have been unable to reach an agreement on across-the-board improvements to this legislation, I appreciate Chairman Dodd’s assurance that my concerns relating to ending bailouts will be included in his bill. I take him at his word. While these changes are significant and meaningful, they are not sufficient to garner my support for moving this bill to the Senate floor. Now that my negotiations with Chairman Dodd have reached an impasse, I thank my Republican colleagues for their support and defer to their individual judgments on whether the Senate begins a floor debate on this bill.”
When I saw your post, I thought, boy. I sure do feel EXACTLY like that post, especially the ARRRRGGGGHHHHHH.
So...it sounds as if they are NOT going to stop the debate.
Let’s pray that this is so. I just heard his Highness on the radio saying that he’s glad the Republicans are caving in and that we need reform.
Here is his statement. Truth is he gave up negotiating because the WH and Dodd wouldn’t budge on anything. It’s now up to the caucus. The repubs all meet at 4:30. Shelby will still vote no, but the weak sisters may walk (9 of them). He doesn’t control the filibuster.
SHELBY: NEGOTIATIONS WITH DODD REACH IMPASSE
Progress on Ending Bailouts and “Too Big to Fail” Meaningful but Insufficient
WASHINGTON, DC Wednesday, April 28, 2010 – U.S. Senator Richard Shelby (R-Ala.), today made the following statement regarding financial regulatory reform negotiations.
“I thank Leader McConnell and my Republican colleagues for providing an opportunity for my negotiations with Chairman Dodd to run their course. I believe we owed the American people our best effort to make whatever changes we could to this incredibly complex piece of legislation because it will have wide ranging implications for our economy. Chairman Dodd has assured me that he will address a number of concerns I have expressed with respect to ending bailouts. We have been unable, however, to make any meaningful progress on other important components of the legislation. It is now my belief that further negotiations will not produce additional results.
“This bill still contains a sprawling new consumer protection bureau that will find and force its way into facets of our economy that had nothing to do with the housing crisis. This massive new bureaucracy would have unchecked authority to regulate whatever it wants, whenever it wants, however it wants. I am aware of no other arm of the federal government this powerful, yet so unaccountable. In my negotiations with Chairman Dodd, I have consistently supported strengthening consumer protections. I have also advocated for a sensible and meaningful role for safety and soundness regulators in this new agency’s operations. Unfortunately, despite my demonstrated willingness to propose compromise solutions, this sensible step has proved to be a bridge too far.
“Also included in this legislation are critical provisions relating to derivatives. These provisions, which Democrats developed on their own behind closed doors, were only very recently inserted into the bill. In fact, I was not provided the opportunity to share my views on a single aspect of the derivatives provision. While I firmly believe we must end the casino-like atmosphere on Wall Street, I also believe we must protect Main Street’s ability to create jobs and grow the economy. In my judgment, the provisions as currently drafted would have far-reaching and devastating effects on these businesses and our economy, increasing the cost of nearly every product we use and negatively impacting job growth.
“Although I am disappointed that we have been unable to reach an agreement on across-the-board improvements to this legislation, I appreciate Chairman Dodd’s assurance that my concerns relating to ending bailouts will be included in his bill. I take him at his word. While these changes are significant and meaningful, they are not sufficient to garner my support for moving this bill to the Senate floor. Now that my negotiations with Chairman Dodd have reached an impasse, I thank my Republican colleagues for their support and defer to their individual judgments on whether the Senate begins a floor debate on this bill.”
and will attempt to change the bill on the Senate floorAnd the CINOs/RINOs who complain nonstop about Pubbies will continue their bitching right up through election day. Thanks OldDeckHand
Mark: GOP cave-in #1 on this bill
History shows it won’t be their last.
For the want of a nail...
Time to get some new dogs. Although it may already be too late. There is still over 6 more months of damage to come before the midterms.
It's better to stop these bills before they come to fruition. Every step in the process creates a bigger creature to slay in the end. Remember: "An ounce of prevention is worth a pound of cure."
Reminds me of the old Peanuts cartoon where Lucy once again gives assurance to Charlie Brown that she will hold the football for him to kick. And then... well, you all know what happens next.
“I can see November from my house”
Positively brilliant—may I steal it?
The rebellion started on 11/4/08 - by the Left.
Well, there is another filibuster chance on the cloture vote to end debate, but the GOP is afraid they will look like they are on the side of Wall Street. I predict it will pass without any useful provisions on Fannie/Freddie.
So he takes the word of Dodd, for Dodd to just "address" concerns at that, a meaningless exercise. Friggin moron.
No WE ARE!
They are ALL playing us like a fiddle.
I can see November coming and it will not be pretty. FOR THEM!
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