For the third straight day, Senate Republicans sided with Wall Street over Main Street, voting to block debate on Wall Street reform. Later this afternoon, however, the Senate Republicans finally decided to allow a debate Wall Street reform:
Senate Republicans say they are ready to end their stalling tactics and begin debate on legislation designed to overhaul the nation's financial regulations and prevent a repeat of the 2008 economic meltdown.
The movement came after Democrats pledged to meet through the night — an attempt to shame Republicans into debating the issue — and after Republicans said they had reached an impasse in private negotiations.
Speaker Pelosi after Senate Republicans announced they would finally allow debate:
For three straight days, Senate Republicans sided with Wall Street over Main Street. Republican leaders chose obstruction and delay over progress for the middle class. They threatened to take us back to the failed Bush policies that cost us 8 million jobs, resulted in record foreclosures, and led to the most severe economic downturn since the Great Depression.
This afternoon, Republicans announced they will finally allow the Senate to move forward with an open debate over how to protect taxpayers from the recklessness of Wall Street. Now Republicans face the real test: will they continue to stand with Big Banks and special interests and push for a weaker bill — or will they join Democrats to pass strong legislation that defends Main Street and the middle class. Democrats are on the side of Main Street — it is time for Republicans to join us.