Time to choose: Are you with the pirates of Wall Street, or are you with the American people?

Posted by AzBlueMeanie:

Senate Republican Leader Mitch McConnell has rounded up 40 signatures on a letter, to be delivered to Democratic leadership, pushing for a compromise package that has watered-down bipartisan support. Sen. Susan Collins (R-ME) is the sole Republican who has not signed on yet–but though she's been long viewed as a potential crossover vote, she's decided to oppose the Dodd bill in its current form. Head On Collision: Republicans Threaten To Block Debate On Financial Reform.

You know that Arizona's twin embarrassments, Senator Obstruction, Jon Kyl (behind Sen. McConnell) and Sen. McNasty, John McCain, signed the letter. I guess McCain thinks it's "mavericky" to oppose what a majority of Americans are demanding and to defend the pirates of Wall Street.

The Pew Financial Reform Project national poll (March 4-8) found Fifty-nine percent of Americans want Congress and the president to reform the financial system now. Half of the 1,000 people surveyed said they would feel more favorable toward their member of Congress if he or she voted in favor of tighter oversight of financial firms. Most Americans want financial reform now -US poll:

"It's clear that voters overwhelmingly favor financial reform that will protect consumers, create an early warning system, improve transparency and end the dangerous 'Too Big To Fail' dynamic," said John Morton, managing director of Pew's economic policy group in a statement.

"These results send a message that Congress should take action now to fix the current system and to prevent another crisis down the road," Morton said.

McConnell's office isn't releasing the letter, and it's unclear whether it contains an explicit threat to vote against a motion to begin debating the legislation–in fact one source says the letter draws no bright lines. But some key signatories suggested that they would indeed block it from coming to the floor.

Senate Majority Leader Harry Reid told reporters he hopes to have a financial regulatory reform bill on the Senate floor sometime next week. Reid Wants Financial Reform On Senate Floor Next Week:

"We're doing our best to get it on the floor as quickly as possible, we hope to get it on the floor next week," Reid said.

"I'm been very disappointed by the statements of some my Republican colleagues opposing our efforts on Wall Street [reform]," he went on. "They seem clearly focused on protecting these big banks."

Sen. Chris Dodd (D-CT), the chairman of the Senate Banking Committee, took to the Senate floor Thursday to tie Republicans to "big banks" and to accuse them of preparing to filibuster a bill that would put an end to bailouts. An Angry Dodd Rails Against GOP On Senate Floor (VIDEO):

Sen. Chris Dodd (D-CT), the chairman of the Senate Banking Committee, took to the Senate floor today to tie Republicans to "big banks" and to accuse them of preparing to filibuster a bill that would put an end to bailouts.

Dodd attacked Minority Leader Mitch McConnell for his claims that the financial reform bill Dodd is working on would lead to even more bailouts.

"You see, these Wall Street firms believe that no matter how much we hate bailouts, if they're important enough at the end of the day, taxpayers will come riding in on a white horse to save them, just like they did under the Bush administration," he said. "This bill kills the white horse."

"The bill stops bailouts," he went on. "To insist otherwise indicates either the minority leader doesn't know whats in the bill or he chose to distort what's in the bill."

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He said Republicans were circulating a letter "pledging that each Republican senator will vote to filibuster this bill and keep it from even being discussed. I hope that's not the case. I can't tell you … what a denial of everything I've stood for and worked on here in countless pieces of legislation for three decades, to have members of this body who have spent hours with me crafting this bill I'll offer, including their ideas, to then vote against even allowing this bill to be debated. I just know that cannot happen."

His speech went on for about 10 minutes. Here's the best minute or so:

H/t Daily Kos fror transcript

If the debate is going to consist of Democrats offering ideas to tackle this very complex–and it is a complex set of issues–and critical challenges on behalf of American families and businesses, and the Republicans reading false talking points from Wall Street's playbook, then count me out, Mr. President. I'm not going to engage in that kind of a debate, in that kind of a negotiation. I have no interest in that whatsoever. We have a job to do here, and if my friends on the other side of the aisle don't feel like doing the work, maybe they should think about the millions of unemployed Americans who didn't get to go to work this morning because they lost their job in this economy created by the mismanagement, the failure to step up and take steps to correct these problems over the last number of years.

Those Americans would love nothing more than to do an honest day's work for a good day's pay, but they can't because the same banks that are sponsoring this parade of bamboozlement on one side of the aisle cost our country 8.4 million jobs, 7 million homes, lost health care and destroyed futures and retirement accounts. That's all gone. What about them in this debate? Are their issues, their views, their concerns going to be discussed? Or just shut it down. Don't even debate the issue. Because you won't agree with my idea. Mr. President, that's not what that institution exists for. It's not about the process, it's not about committee assignments, it's not about your idea or mine. It's about the people beyond the walls of this chamber.