The debate has been stalled out again with a 57 to 41 vote against. Harry Reid switched his vote to a “NO” while the GOP held ranks to stop the bill from moving forward…
Shelby aides said he wants to tighten language that he believes would give the Federal Reserve and the Federal Deposit Insurance Corp. too much flexibility to assist large banks and their creditors. Shelby also wants to restrict the rule-writing powers that Dodd would give a consumer financial protection bureau within the Federal Reserve.
The oversight report is not published yet, but the legislation to fix the unknown problems needs to be passed now. Another political calculation just like the Health Care Bill.