Senate GOP Blocks Finance Vote

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Senate Republicans this evening successfully prevented an open debate on a bill that would overhaul how Wall Street and financial markets do business. With a 57-41 vote, the GOP delayed the vote for at least another day; the vote broke down along party lines except for Sen. Ben Nelson (D-Neb.), a centrist Democrat who surprised some by voting against the measure to begin the debate. Here on Capitol Hill, Democrats are expected to schedule another cloture vote soon, even as early as tomorrow, to try to start full debate on financial reform.

In the meantime, talks behind closed doors will continue between Democrats and Republicans in an effort to shape the finance bill in a way that wins over a few Republicans. How far Democrats and Republicans have to go to reach an agreement is unclear. On the one hand, Sen. Richard Shelby (R-Ala.) told reporters earlier today that he felt the bipartisan talks had reached a “tipping point,” suggesting that an agreement was near. After the vote, however, Shelby said he still wants to “reach agreement on three big sections,” a substantial hurdle for both parties this late in the game given that the Senate has been working on financial reform for almost a year.

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Truth #1: The chaos is the point.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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