Harry Finds His Cajones

Commentary By Ron Beasley

Knowing that the Democrats have the upper hand when it comes to financial reform Obama went to the heart of enemy territory today and told the Wall Street banksters you're with us or against us.

Speaking in the bankers� backyard, at the Cooper Union in Manhattan, Mr. Obama
castigated the �failure of responsibility� by Wall Street that led to
the financial
crisis of 2008 and pressed his case for what he called �a
common-sense, reasonable, non-ideological� system of tighter regulation
to prevent any recurrence. He took issue with the claim that his
proposal would institutionalize the idea of future bailouts of huge
banks.

�That may make for a good sound bite, but it�s not factually accurate,�
Mr. Obama said. �It is not true. In fact, the system as it stands is
what led to a series of massive, costly taxpayer bailouts. And it�s only
with reform that we can we avoid a similar outcome in the future. In
other words, a vote for reform is a vote to put a stop to
taxpayer-funded bailouts. That�s the truth. End of story.�

He said scrupulous business leaders had no reason to resist his
regulation plan. �The only people who ought to fear the kind of
oversight and transparency that we�re proposing are those whose conduct
will fail this scrutiny,� he said.

But more surprising is Harry Reid who is telling the Republicans no more stalling.

Senate Majority Leader Harry Reid says he'll try to move a financial
reform bill to the floor today--and if the Republicans object, as
they've threatened to do, he'll force them to take a tough vote on
whether to allow debate on legislation to regulate Wall Street.

"If they let us move to it, I'd be happy to do that," Reid said at a
press conference with Democratic leadership this afternoon. "If they
don't...I'm filing cloture [and we'll] have a cloture vote on Monday,
5:15."

That won't please the GOP. Just before the Democrats' press
conference, Sen. Susan Collins (R-ME), whose vote is still in play on
financial reform, implored
Reid not to move ahead until a final bipartisan agreement is reached.

Now Reid has finally figured what "bipartisan agreement" means to the Republicans - stalling!

Update:

More here:

Senate Majority Leader Harry Reid (D-Nev.) said Thursday that he will
not wait for Democrats and Republicans to reach a bipartisan compromise
on a Wall Street reform bill, pledging to move ahead with the first key
test vote Monday.

�I�m not going to waste any more time of the American people while they
come up with some agreement,� Reid said. �The games of stalling are
over.�

Reid made the announcement as Senate Banking Committee Chairman Chris
Dodd (D-Conn.) and Alabama Sen. Richard Shelby, the ranking Republican,
remain locked in talks on the bill. Both senators have said they were
progressing towards a deal, but Republicans have suggested that they
would need more time than Democrats are willing to give.

�It is very complex, very, very involved,� Shelby said. �I wouldn�t want
to rush it and make a lot of mistakes.�

Shelby said he would recommend that all Republicans oppose the first
procedural vote, known as a motion to proceed � a move that would
prevent the Senate from the debating the bill.

Democrats have made a political calculation that at least some
Republicans will feel compelled to back the bill Monday, even without
any changes � and if they don�t, it�s the GOP that looks bad. If they
fail on Monday, Democrats would likely head back to the negotiating
table with Republicans to reach a deal, and continue to force votes
until at least one Republican joins them in opening the debate.

�We feel we have the upper hand,� Sen. Chuck Schumer (D-N.Y.) said.