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Bloomberg reports on the course of financial reform:

A standoff over protecting consumers against shady lending practices is the biggest obstacle to Senate passage of the biggest redesign of U.S. financial regulations since the Great Depression.

Republicans have ended a logjam blocking Senate debate, and a federal fraud suit against Goldman Sachs Group Inc. gave new momentum for tougher Wall Street oversight. The most contentious issue remains a Democratic consumer-protection plan that Republicans say would give regulators unprecedented power over commercial lending and threaten economic growth.

It’s still “the elephant in the room” preventing a bipartisan agreement, said Tennessee Republican Senator Bob Corker. He has been involved in months of on-again, off-again negotiations with Democrats.

Huh. And here I thought resolution authority was the elephant in the room. Or was it derivatives reform that was the elephant in the room?

Or maybe it’s really all three. There’s always another elephant in the room, isn’t there?

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LESS DREADING, MORE DOING

This is the rubber-meets-road moment: the early days in our first fundraising drive since we took a big swing and merged with CIR to bring fearless investigative reporting to the internet, radio, video, and everywhere else that people need an antidote to lies and propaganda.

Donations have started slow, and we hope that explaining, level-headedly, why your support really is everything for our reporting will make a difference. Learn more in “Less Dreading, More Doing,” or in this 2:28 video about our merger (that literally just won an award), and please pitch in if you can right now.

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