Republicans Again Block Financial Reform Bill Debate

For the second straight day, Senate Republicans held together to keep the Senate from moving to formal debate on a financial industry reform bill.

The vote was 57-41. Democrats need 60 votes to proceed to the bill.

Democratic Senator Ben Nelson (D-Neb.) again broke ranks to stand with Republicans on the vote. Nelson has said he can't vote to move to debate because he has yet to see the bill. Two senators, Democrat Evan Bayh of Indiana and Republican Michael Bennett of Utah, did not vote.

Senate majority leader Harry Reid is expected to again put the matter to a vote on Wednesday. Democrats seem eager to continue to put Republicans on record as opposing moving forward on the bill, and have cast the GOP as the party of Wall Street.

Senators involved in today's Goldman Sachs hearing took a very short break to cast their vote. 

In remarks in Iowa following the vote, President Obama criticized Senate Republicans for blocking efforts to move forward, saying Americans deserve an "honest debate."