28Apr/10
Financial reform vote fails 3rd time in Senate
WASHINGTON - U.S. Senate Republicans blocked progress on Democrats' sweeping financial reform for a third day on Wednesday, although the distance between the two sides was not huge and a bill is eventually expected to pass.
Republicans pressed for a compromise measure, seeking concessions such as protecting car dealers from the reach of a proposed new consumer protection watchdog. They say the reform is needed but simply overreaches.
With congressional elections set for November, lawmakers from both parties are keen to pass a bill, the most ambitious rewrite of Wall Street rules since the 1930s.