More proof that the Wall St./banks own the Congress. The Democrats promised results because they had a filibuster-proof majority. Just another promised not kept. Along with Obama's promise of change:
In a setback for the Obama administration, Senate Democrats failed to muster enough votes on Wednesday to end debate on the biggest overhaul of financial regulation since the 1930s, delaying a vote on passage.
But analysts still expect the legislation eventually to pass. More debate on amendments was likely, with banks on alert for changes that could threaten their profits.
Senate Democratic Leader Harry Reid scheduled another vote for 2:30 p.m. EDT Thursday.
In the 57 to 42 vote, two Democrats sided against invoking "cloture" to limit debate and move toward final passage. Sixty votes are needed to end debate in the Senate. Two Republicans voted with a majority of Democrats for cloture.
The loss seemed to come as a surprise to Democrats on a measure that enjoys widespread public support.
As backers of the bill scrambled for votes, Democratic Senator Arlen Specter was nowhere to be found one day after he lost a primary challenge in his home state of Pennsylvania.
"I don't have a sense on when he will be back," an aide said.
Reid said one lawmaker had gone back on his word to support the bill. He declined to name the lawmaker, but a Democratic aide said it was Republican Scott Brown, who has backed Democrats on other tight votes.
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