Fed advice cited in Senate vote against reform bill

Capitol Hill

Senate Republicans clubbed together on Monday to block a procedural vote allowing a financial regulatory bill penned by Chris Dodd, the chairman of the upper house's banking committee, to be debated.

Fourty Republican senators, along with one Democrat, voted against opening the bill to discussion on the floor. Fifty-five Democratic and two independent senators were in favour, but with two Republicans not voting, the bill fell three votes short of the 60 required for a three-fifths majority.

The

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