GOP + 1 Dem Stop Bad Banking Bill

The GOP held together to stop Harry Reid and Chris Dodd's bad banking bill:

Republicans voted unanimously Monday to block an effort to overhaul financial regulations from reaching the Senate floor, pledging to hold out for significant changes to the bill even as they acknowledged the political risk of appearing to obstruct a popular cause.

The 57 to 41 vote in favor of beginning debate, short of the 60 needed, was expected, although Democrats did suffer an unanticipated defection when Sen. Ben Nelson (Neb.) joined Republicans as a no. Senate Majority Leader Harry M. Reid (D-Nev.) was prepared to call further votes Tuesday, Wednesday and beyond.

"We need to keep the pressure on to get a deal as quickly as possible," Reid spokesman Jim Manley said.

About two-thirds of Americans supported stricter regulations on the way banks and other financial institutions conduct their business, according to a Washington Post-ABC News poll. Majorities also backed two main components of pending Senate bill: greater federal oversight of consumer loans, and a proposed fund paid for by the financial industry that would go toward dismantling failed firms that put the broader economy at risk.

Given the public support for tougher Wall Street rules, the unanimity that Republicans demonstrated Monday may not endure. GOP negotiators said their goal remains a final bill that includes enough changes that it can win broad support from both parties. But Democrats are looking to limit their concessions and say they will probably win a few conversions among Republicans who have expressed support for the overwhelming majority of the bill in its current form.

Somebody show me the protesters who are rallying to get this bill passed. It's not happening. Where's the public support for this? A few polls?

This will be another case where the Dems will claim that if you opposed their bill you "oppose banking reform". It's the same play they used with health care. The GOP had better stick together on this and dump this bill.