Advertising

The Seattle Times Company

NWjobs | NWautos | NWhomes | NWsource | Free Classifieds | seattletimes.com

Local News


Our network sites seattletimes.com | Advanced

Go to the politics section for more local and national politics coverage.

Politics Northwest

The Seattle Times political team explores national, state and local politics.

May 19, 2010 at 2:31 PM

Comments (0)     E-mail E-mail article      Print Print      Share Share

Cantwell bucks Democrats on financial reform vote

Posted by Kyung M. Song

WASHINGTON -- Sen. Maria Cantwell on Wednesday once again defied her party on a procedural vote relating to financial reforms, blocking an attempt by Democrats to forge ahead with the Wall Street reform bill.

Cantwell joined Sen. Russ Feingold of Wisconsin as the only Democrats to vote against cutting off debate on the legislation. That could thwart Senate Majority Leader Harry Reid's hopes of shepherding the bill into passage this week.

Cantwell was protesting because she couldn't get her colleagues to commit to voting on two of her amendments to the reform bill. One, which she sponsored with Republican Sen. John McCain, would resurrect the Glass-Steagall Act to ban financial firms from operating both commercial and investment banking.

Cantwell also sought to tighten sanctions for use of derivatives that aren't traded through central clearing to minimize their risks. Cantwell has persistently favored tougher regulation on financial firms than many of her fellow Democrats.

Cantwell and Feingold's votes on Wednesday left Reid three votes shy of the 60 that he needed to overcome Republican filibuster on the reform bill.

In January, Cantwell was one of 11 Democrats to vote against giving a second term to Federal Reserve Chairman Ben Bernanke for what she said was insufficient regulatory zeal. The Senate confirmed Bernanke with a 70-30 vote.

E-mail E-mail article      Print Print      Share Share

Comments
No comments have been posted to this article.

Recent entries

Advertising

Advertising

Advertising

Browse the archives

May 2010

April 2010

March 2010

February 2010

January 2010

December 2009

Contributors

Jim Brunner
Covers politics.

Keith Ervin
Covers the Eastside.

Andrew Garber
Covers politics and state government from Olympia.

Emily Heffter
Covers local government.

Mike Lindblom
Covers transportation.

Kyung Song
Covers politics and regional issues from Washington, D.C.

Lynn Thompson
Covers Seattle City Hall.

Bob Young
Covers King County and urban affairs.