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Are indeed it does wolf for more on the senate we're joined by Wall Street to journal's Washington bureau chief Jerry side -- So it looks like we have a deal do you think this will be the -- the bulls stick.
Well as stick -- -- September yeah I don't know but what I've I've -- that's one of the questions we have a deal clearly there's a deal.
I suspect the Democrats and and senator reader mostly happy with this deal they got what they want -- which is they got uncork these seven nominees that President Obama.
I had been waiting on and they did it without having to kind of blow up the Senate's rules which I think at the end of the day ought to Democrats didn't wanna do anymore than Republicans did.
I think the question is what is there in this that appeared to be back at this kind of bickering in the next couple of months.
If these or anything here that changes the way the senate has been functioning which is to say not functioning very well.
Beyond that you're the duration of this immediate crisis and I'm not sure there is there there might be an agreement were not gonna go here again but those agreements are only as good as the paper they're written on.
Well the filibuster is there for a reason but do you think the rules need to be changed.
Well look I do think it's that we've gotten in the Senate's got a little bit filibuster crazy in the last few years I think most objective observers would agree -- that you know.
Is Harry Reid likes to point out to people in six years as majority leader he's had to -- -- -- thirteen filibusters.
In six years as a majority leader Lyndon Johnson back in the fifties -- sixties only had one.
So clearly that the there'd been excesses here I think for an excesses building for some time now.
And I but I think those are mostly dealt with the people decide they're just not gonna operate that way anymore rather than rules -- -- that's the ideal way to do it.
I think there are two important things coming up in the fall though and I think the key question.
If from the business and financial point of view is out what will the atmosphere in the senate be -- two big things come up one is the debt ceiling debate we're going to be back there at September.
And the second is a new nominee to head the Federal Reserve board that'll probably come this fall as well.
I suspect that that you would if you're looking at those things and hoping -- handled sensibly insanely that you would want there to be a calmer -- and sort of more mature atmosphere in the senate when those things come up and maybe that's what we've -- today.
May be but my gosh is John McCain -- -- he had his quote we've gone to -- -- to the -- looked into the abyss and step back it seems silly that that's the way they do business these days in Washington they push it to the very last minute.
Right so the very end and then say okay we'll come up with compromise I mean.
Is that the way Washington is and we just have to well that.
Look I mean you saw you that is what happens that has been the pattern it you know -- could resolve this last night and had a three are meeting broke up without a resolution didn't happen and tell there was an hour to spare.
That's kind of the way things go in labor negotiations and in the United States senate I'm not sure it's necessarily a bad thing because it means.
At the end people have decided they got the best compromise they could extract from the process so I don't think the eleventh hour brinksmanship.
Is so bad in and of itself.
I think what's bad is that every issue seems to -- resolve that way not just the important ones.
And there doesn't seem though he's via feeling that everybody goes home satisfied with the way the process has worked at the end but I think you're right that is the way to set it.
Circulatory thirteen does work.
Interest thing is that so by.
-- and a course that -- create some -- doesn't it not only for the economy but certainly for the markets.
Right it does it I think you should expect some uncertainty on that came out this fall.
I think Republicans in particular have not made a decision yet how they want to play the debt ceiling got a question tactically and and there may well be differences between.
The house and the senate I think people in the senate may -- -- avoid Republicans that is very wanna avoid a debt ceiling debate Democrats certainly wanna avoid one.
I'm that your house Republicans agree on that there's gonna have to be some horse trading that happens.
It and it probably will have to do with you know government spending overall we'll see how that plays out we're not there yet I think what the today does is it kind of clears the deck.
For -- let's have a go home for an August recess when we come back I think that debt ceiling is going to be a a big item on the agenda it'll be there as soon as -- over.
Getting quickly to quote Gray's nomination merit to quote -- the consumer financial protection bureau of Republicans really had a problem with the agency itself to admit the way it's finance and its structure.
Does that still get a dress.
Well I think one of the things -- Republicans probably lost here -- any leverage to re address how the agency is structured.
That was the reason you're right that's the main reason they held up Richard -- raised nomination the Republicans are not happy with him personally because of some of the things he's done in his background.
The bigger issue was can we use this nomination as leverage to extract some changes in the way this bureau -- set up.
I -- it to my reading of the of the agreement.
That's what's going off the boards today I think Republicans just made a decision they were gonna get anywhere with that they let that go I think that was the real issue much more than Richard -- I agree.
Still it's a possible do it hasn't been done yet so will continue to follow it.
-- side for the Wall Street Journal as always great stuff thank you so much sure happy to be with him.
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