Holding Out for a Better Bill

Holding Out for a Better Bill

The Nation‘s DC Editor Chris Hayes reports on The Rachel Maddow Show that stalling the financial reform legislation has introduced stronger consumer protections.

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Wednesday’s 57-to-42 vote proved Harry Reid would need to “wrangle” Democrats as well as Republicans for the financial reform bill to move forward. Democratic Senators Maria Cantwell of Washington and Russ Feingold of Wisconsin voted against cloture, however, as The Nation‘s DC Editor Chris Hayes reports on The Rachel Maddow Show, stalling has introduced amendments for stronger consumer protections.

North Carolina Democrat Kay Hagan recently introduced a bill that would place stronger restriction on payday lenders. Other Democrat provisions include restoring the Glass-Steagall Act as well as instituting the Volcker rule.  “…It’s right and proper for people like Feingold and Campbell to say, no, we’re not going to vote on cloture unless you gives us votes on these very good, progressive amendments,” explains Hayes. 

—Clarissa León

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