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GOP Votes Down Financial Reform Vote

Senate Republicans again moved to block the financial regulation bill as it moves toward floor debate.
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WASHINGTON (TheStreet) -- Republican senators for a third time have blocked efforts to pass the financial reform bill.

After a 56-42 tally on Wednesday, Democrats were once again unable to muster the requisite 60 votes required to bust a GOP-led filibuster and send the wide-ranging legislation to the floor for debate.

Both parties expect passage of some version of the bill, with Republicans arguing for needed changes to the massive financial-system regulatory overhaul. Democrats sought to portray their opposition as trying once again to back the Wall Street status quo.

The vote came a day after a

Senate committee grilled executives


Goldman Sachs

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, including CEO Lloyd Blankfein, over the firm's contentious role in selling mortgage-related derivatives.

-- Written by Scott Eden in New York

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Scott Eden has covered business -- both large and small -- for more than a decade. Prior to joining, he worked as a features reporter for Dealmaker and Trader Monthly magazines. Before that, he wrote for the Chicago Reader, that city's weekly paper. Early in his career, he was a staff reporter at the Dow Jones News Service. His reporting has appeared in The Wall Street Journal, Men's Journal, the St. Petersburg (Fla.) Times, and the Believer magazine, among other publications. He's also the author of Touchdown Jesus (Simon & Schuster, 2005), a nonfiction book about Notre Dame football fans and the business and politics of big-time college sports. He has degrees from Notre Dame and Washington University in St. Louis.