The Senate passed a version of the Dodd bill Thursday night, 59-39. Four Republicans voted with the Democrats on passage: the Maine Ladies, Sen. Brown (Mass.) and, in a minor surprise, Sen. Grassley (Iowa). I say minor because Grassley voted with the Democrats to move the Dodd bill out of committee, but supported the initial GOP filibuster.
Democratic Sens. Cantwell (Wash.) and Feingold (Wis.) voted against passage, opposing the bill from the left. Sen. Byrd (W.V.) didn’t vote, as per his usual when his vote isn’t necessary. And Sen. Specter (D’oh., Penn.) presumably spent the vote sulking in a corner.
Full roll call here.
Frankly, I’m surprised more Republicans didn’t get on board — especially considering what a jittery week it has been on the electoral front (PA-12, libertarian objections to the Civil Rights Act and whatnot). Besides, the bill isn’t terrible. Sure, the resolution authority leaves fudge room for bailouts (though less so thanks to a GOP amendment); and the Consumer Financial Protection Agency is likely to be a regulatory nightmare and a yoke on economic recovery. But to the extent that anyone is really paying attention, the Democrats more or less won the spin war, managing to turn in a “tough on Wall Street” piece of legislation with the Goldman Sachs Seal of Approval.
In any event — next stop, conference committee, where you can look forward to watching derivatives reform get watered-down and Ben “Full” Nelson (D., Neb.) grab as many goodies for Warren Buffett and his fellow Berkshire Hathaway shareholders as he can.






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