Financial Reform Blocked, Again

Senate Republicans blocked debate of a Wall Street regulation overhaul for the second straight day, saying the bill is a “dramatic overreach” that needs major revising—best done in private, they say—before it can be debated. The vote was 57 to 41 (two senators abstained and Nebraska Democrat Ben Nelson again voted against his party), and another is scheduled for Wednesday. The spokesman for Majority Leader Harry Reid (D-NV) said the plan was to keep up the pressure on the GOP. A recent poll shows that about two-thirds of Americans support tougher regulation of the financial industry—a sign that the Republican line is unlikely to hold. Democrats plan to offer few concessions.