in Kulturkampf

What Happened To “No”?

The Washington Post reports that Harry Reid will hold a cloture vote on financial reform Monday. GOP intransigence on the bill began to collapse on Monday and has now disintegrated. From WaPo last night:

Key members of both parties said Wednesday that they are close to agreeing on the main elements of a bill to overhaul the nation’s financial regulations, raising the prospect that the Senate could begin formal discussion of the landmark legislation early next week.

It appeared McConnell would not get every Senate Republican in line to block financial reform.  Then he trumpeted the magic 41 number last Friday, but by Monday even hardliners in his membership were changing their minds. Major Republicans started voting “yes” in committees, even on tough derivatives reform.

They’re being constructive. To what end?

Minority members may not care about promises its leader made to Big Banking. Perhaps they’ve actually begun to realize that “no” has consequences, and won’t let Democrats claim all the credit for fixing the country, after all. From TPM:

Key Republicans, sincere about passing new rules for Wall Street, but intimidated by the notion of blocking financial regulatory reform, let it be known to their leadership that, at some point, they would side with Democrats to break a filibuster. Maybe not on round one, or even round two. But eventually.

[…]

“This issue is not philosophical,” Corker told TPMDC this afternoon. “It shouldn’t be… This is the place where the Senate can function like it’s supposed to. Maybe this is a beginning point towards us actually moving away from the dysfunctional place we’ve been.”

Whatever the GOP needs to tell itself in order to say yes…I really don’t care.

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