GOP on Finance Reform: Say It Ain't Snowe

Sen. Olympia Snowe, R-Maine

/ CBS

We've seen this script before: Hoping to win Republican support for a controversial piece of legislation, Democrats assiduously woo Maine's swing Senators - only to get stiffed at the proverbial 11th hour.

But after meeting with Treasury Secretary Tim Geithner Monday afternoon, one half of the Maine option apparently is back in play.

While Susan Collins appears to be out - at least for now - Olympia  Snowe said she was optimistic that Democrats would modify their current bill to make it more palatable to moderate Republicans. She added that there wasn't "that much of a gap" between the sides.

"I encouraged [Geithner] on the issue of bipartisanship and he was optimistic on that issue. I don't think it will be impossible, but as I urged the Secretary today, it is vital we ensure that the broad strokes of a bipartisan agreement are reached prior to debate on the Senate floor. We need to address the proposed consumer protection bureau and the best way to avoid another taxpayer-funded bailout, among other things. I also shared my deep concern that we push the vast derivative trading market onto transparent exchanges and we eliminate any chance that taxpayers money will be used to support misplaced bets.

Snowe also repeated the standard Democratic line about the need to take "drastic steps to rein in reckless Wall Street practices" to prevent a repeat situation where financial institutions again wind up at the brink.

A bi-partisan charade or an expression of serious intent to cross party lines? Left wing Dems still nurse bruised feelings incurred during the health care reform battle. That's when Democrats thought they had won Snowe's support and they remain convinced she played them.  But considering Wall Street's plunging public popularity, it might be easier for Snowe to trade her vote in return for winning a compromise that Democrats can still live with.

That's assuming, of course, she can hold out against Mitch McConnell and his posse. Deja vu all over again, as the immortal Yogi Berra was reputed to have put it? We'll see.

[babooph]

If my republican party has any success with the help of the "Evangelical" alliance,in the long run,it will set the party back 10 years...for now,any new true conservative ,or liberal party will get my vote[too bad lobbyist $$$$ would follow it].

[bajajohn1]

It is very difficult to trust Olympia Snowe. It is indeed, very difficult to trust any Republican these days. Finance Reform aka the bill to apply a rein to loose, corrupt, and non-consumer oriented practices on Wall Street, is a priority the entire nation can support. Why Republicans wish to water-down the reform effort instead providing input to strengthen the maligned business practices on Wall Street is beyond the pale of reason.

[noloyalisti]

Maybe she is just another rat abandoning the ship before there is no more failed slimy corporatist Republicans left.

They have pretty much been wrong about EVERYTHING for the last 30 years. They also love big corporations so they could not care less about country, people, freedoms or jobs. As long as they have theirs.

[noloyalisti]

Everything about the GOP for the last 30 years has been a dead wrong failure. Snowe likely realizes this and cannot stand the idiots who are in "charge" of her party.


P.S. by Mortar_29 April 20, 2010 10:46 AM EDT
DNC = the party of YES for the wealthy but the party of NO for middle class.

OMG LOL, you knuckles can't turn EVERYTHING around when it is an outright lie. You can't make up stupid.

[steeepe]

When is the Tea Party rally to protest the GOP obstructionism in financial reform?

[nearl451]

I'm sure that is HIGH HIGH HIGH on their agenda.

LOL.

[consh8theusa]

Not to sound funny, but bi-partisanship is not a one way street, no matter what the democrats offer as negotiable, it requires the GOP to at least act like they're interested in compromise. For them to stonewall 100% is to spit in the face of bi-partisanship.

[noloyalisti]

Is Snowe one of those darn elected reps who are looking out for the best interests of the common folks? Then she HAS to vote to reel in the banksters.

[markamichaud]

tsigili...When you say American people do you mean Republicans? Get over..You lost

[noloyalisti]

The GOP and their Tea Bag Party arm are fascists and corporatists. They are actually happy with what the banksters did to America. Wow.

[us_1776]

I don't think either of you know anything about fascism. It has historically been associated with the far-right-wing. There is an article up on wikipedia that has plenty of sources and links. Go read it. http://en.wikipedia.org/wiki/Fascism

[tsigili]

The Dems have no intention of playing the game to suit the GOP. Get ready to vote NO, Snowe. Not that it will do any good. This administartion is determined to dictate to the American people, whether we like it or not.

[steeepe]

You really should consult the dictionary to find out what the words you use mean. Obama is not a dictator. Last I checked, Congress was elected. Nobody's dictating anything, except perhaps the banks to the GOP.