Late Evening Senate Action

The Senate is still voting this evening on amendments to the financial reform bill. However, the “audit the Fed” amendment by Sen. Bernie Sanders (I-VT) that we were expecting to see passed tonight has been delayed after some last-minute maneuvering.

Sen. Bob Bennett (R-UT) wanted to be present for the vote, but he’s back in Utah fighting for his political life in advance of this weekend’s state GOP convention where he may very well lose his party’s nomination. Apparently Bennett didn’t want to miss this vote and have that used against him by his opponent in the closing hours of their campaign.

Despite that delay, the politics of financial reform have shifted significantly in recent days, and the Senate is now expected to pass a series of amendments that will significantly strengthen the bill’s reforms.

Late Update: A long-shot to pass, the amendment by Sens. Sherrod Brown (D-OH) and Ted Kaufman (D-DE) to put absolute limits on the size of financial institutions just went down to defeat, 33-61.