KEA

By a vote of 59-39 tonight, the Senate psesad sweeping legislation to tighten the rules governing the U.S. financial system.Four Republicans Sens. Scott Brown (R-MA), Chuck Grassley (R-IA), Susan Collins (R-ME) and Olympia Snowe (R-ME) joined with all but two Democrats, Sens. Maria Cantwell (D-WA) and Russ Feingold (D-WI), who opposed the bill for not being more aggressive in reforming Wall Street. Sens. Robert Byrd (D-WV) and Arlen Specter (D-PA) didn’t vote.In the weeks ahead, House and Senate negotiators will meet in a formal conference committee to iron out the differences between this package, and the broadly similar bill the House adopted late last year. The Senate is expected to name their negotiators on Monday. But the policy-making process each evolved in unexpected ways over the last several weeks, and in ways that largely redounded to the benefit of supporters of reform. In a sign of just how important politics can be to the legislative process, the bill has, over the course of the month-long floor fight, become stronger overall. So toxic are the optics of siding with Wall Street, that a number of progressive and popular amendments were adopted, many with bipartisan support. To many observers and experts the Senate’s package is actually superior to the House-passed Wall Street reform legislation a rare occurrence on Capitol Hill, where, in the era of regular filibusters, legislative strategy is often driven by the need to appease 60 senators.In a floor speech before final passage, Sen. Richard Shelby (R-AL) the GOP’s top financial reform negotiator called the bill a liberal activist’s dream come true. That would be true and good!! :yay: :yay: :thumbsup: