Today, for the second day in a row, the U.S. Senate failed to reach cloture on Sen. Dodd’s “Wall Street Bailout” bill, S. 3217 the Restoring American Financial Stability Act of 2010. The motion failed 57-41.
“It is clear it’s time to start over,” said ATR President Grover Norquist. “Senator Dodd continues to claim cloture needs to be reached in order to debate the bill – wrong! Conversations about what is in the bill need to happen before and while the bill is being drafted. Not after the Democrats, Big Business and Wall Street sat in the dark behind closed doors and expect to shove this bill down the throat of the American economy. Creating hidden agencies, making bailouts permanent, and monitoring all Americans' purchases and giving that information and data to whoever wants is not real reform.”
The Democrats have another chance tomorrow as yesterday Sen. Reid made the condition that if cloture fails today, there will be another cloture vote on Wednesday.