Financial Reform

GOP Set for First Defection

Senate Democrats are set to pick off their first Republican vote on financial reform, although they’ll need one more to overcome the unexpected opposition of one of their own, Nebraska Senator Ben Nelson. CNN reports that Ohio Republican George Voinovich will soon switch his vote to support opening debate on the financial-reform bill after the GOP blocked it for a second time on Tuesday. Voinovich, who is retiring in November, said the American people “want us to get something done.” Meanwhile, The Wall Street Journal offers a summary of the financial-reform plan that Republicans released on Tuesday. Matt Yglesias calls it “extremely vague, but appears to be... staggeringly similar to what’s already in Chris Dodd’s bill”—the one they’re currently opposing.