Financial Reform Bill Blocked for Now

The Senate on Wednesday rejected an attempt to bring a financial regulation reform bill to a final vote.  Senator Bernie Sanders blamed Wall Street – “the most powerful institution in the country” – for pressuring senators to delay action on the bill. “What the vote today was about was whether we can go forward and hold Wall Street accountable,” Sanders told a press conference afterward. The measure contains a provision by  Sanders to require a top-to-bottom audit of the Federal Reserve and to make the central bank reveal which institution took more than $2 trillion in secret subsidies. Sanders also is backing an amendment that would let state’s put limits on interest rate charges banks slap on credit card customers.