Democrat Ben Nelson Votes Against Moving Forward With Financial Regulation

By
Monday, April 26, 2010 at 5:40 pm

Sen. Ben Nelson (D-Neb.) has voted no on the cloture motion to start debate on Sen. Chris Dodd’s (D-Conn.) financial regulatory reform bill — meaning the motion will likely fail, 58 to 42, short of the 60 votes needed. Republicans will tout this as an extraordinary victory demonstrating bipartisan opposition to moving forward on financial regulation until the bill is tried, tested and sorted. But my guess is that Nelson knew the motion would not pass, having failed to garner Sen. Olympia Snowe’s (R-Maine) vote earlier today, and decided not to vote for it at that point.

Regardless, the optics are terrible. Nelson’s “Cornhusker kickback” delayed health care reform. Today, news broke that Warren Buffett, the head of Berkshire Hathaway and a resident of Omaha, lobbied for the Senate Agriculture Committee, on which Nelson sits, to create a derivatives loophole that would benefit his company to the tune of billions, a proposal Senate Democrats swatted down. And now, Nelson is holding up progress on the financial front again.

Update: The final vote count was actually 57-41. The New York Times explains:

At the last minute, Mr. Reid actually switched to vote with the Republicans, a strategic maneuver that lets him call for a repeat vote whenever he is ready. Two Republicans did not vote.

Follow Annie Lowrey on Twitter


Comments

14 Comments

uberVU - social comments
Trackback posted April 26, 2010 @ 6:06 pm

Social comments and analytics for this post…

This post was mentioned on Twitter by TWI_news: Democrat Ben Nelson Votes Against Moving Forward With Financial Regulation – http://bit.ly/aTERv9...


crazydrumguy » Wanker of the Day
Pingback posted April 26, 2010 @ 7:12 pm

[...] Sen. Ben Nelson [...]


Police Warn Car Insurance Customers to Guard Against Thieves | My Blog
Pingback posted April 27, 2010 @ 12:04 am

[...] Democrat Ben Nelson Votes Against Moving Forward With Financial … [...]


OTC Derivatives and the "Buffet Amendment" | Stocks!
Pingback posted April 27, 2010 @ 12:43 am

[...] best part of all is that Mr. Buffet called upon US Senator Ben Nelson (R-NE) to create a derivatives loophole that would benefit his company to the tune of billions, a proposal [...]


do any of u play mafia wars on facebook? | Mafia Wars Guide Blog
Pingback posted April 27, 2010 @ 12:46 am

[...] Democrat Ben Nelson Votes Against Moving Forward With Financial Regulation « The Washington In… [...]


Matthew Yglesias » Ben Nelson Has Apparently Learned Nothing
Pingback posted April 27, 2010 @ 8:32 am

[...] Nelson’s vote, by contrast, is puzzling. Annie Lowrey summarizes: Regardless, the optics are terrible. Nelson’s “Cornhusker Kickback” delayed health care [...]


"Republicans – And Ben Nelson – Filibuster Wall Street Reform" and related posts
Pingback posted April 27, 2010 @ 9:01 am

[...] Democrat Ben Nelson Votes Against Moving Forward With Financial Regulation - The Washington Independent [...]


OTC Derivatives and the "Buffett Amendment" (Update 1) | Finance Blog
Pingback posted April 27, 2010 @ 9:20 am

[...] best part of all is that Mr. Buffett called upon US Senator Ben Nelson (R-NE) to create a derivatives loophole that would benefit his company to the tune of billions, a proposal [...]


Ben 10 abertura em português | Ben 10 Game | Ben 10 Toys
Pingback posted April 27, 2010 @ 10:17 am

[...] Democrat Ben Nelson Votes Against Moving Forward With Financial … [...]


workhunt.net » Blog Archive » Is Sen. Ben Nelson Looking For A New ‘Cornhusker Kickback’ In Wall Street Reform?
Pingback posted April 27, 2010 @ 5:21 pm

[...] why did Nelson help block the measure while 65 percent of Americans support Wall Street reform? Speculation immediately turned to Nelson’s relationship with one of his most important constituents, [...]


Why you should care about the U.K. election and a hung parliament » North by Northwestern
Pingback posted May 5, 2010 @ 10:07 pm

[...] if a party wins a majority (326 or more seats in Commons), they vote as a block (no Ben Nelsons) to advance that legislation. This becomes more difficult with a hung parliament. It is widely [...]


Forward financial | FinalPriceAutos
Pingback posted April 26, 2011 @ 8:58 pm

[...] Democrat Ben Nelson Votes Against Moving Forward With FinancialChris Dodd’s (D-Conn.) financial regulatory reform bill — meaning the motion will likely fail, 58 to 42, short of the 60 votes needed. Republicans will tout this as an extraordinary victory demonstrating bipartisan opposition to moving forward on financial regulation until the bill is tried, tested and sorted. [...]


RSS feed for comments on this post.

Sorry, the comment form is closed at this time.