Republicans finally say yes to debate about Wall Street reforms

Washington - (NBC) - Democrats' plans to police Wall Street get a full debate, starting Thursday afternoon.

"It is the right thing to do," said President Obama.

After three "no" votes this week, Democrats threatened to hold court all night.

"We're all in this chamber together to improve the quality of life for people who have been so badly hurt," said Connecticut Senator Chris Dodd.

Republicans finally said "yes" after more back-room negotiations with banking chair Chris Dodd.

"His staff has made some recommendations that we like, and we've made some they like. I think we've made real progress on that," explained Alabama Senator Richard Shelby.

Opponents still want to see some changes on protecting consumers, complex financial transactions called "derivatives" and more assurances against taxpayer bailouts. President Obama, who has been pitching reform all over the Midwest this week, told Illinois

it needs to happen soon.

"We don't need to do another study and examine it. We need it now!" said Obama.

The AFL-CIO marches through Wall Street today, hoping to send a message.

"We wanna see Wall Street held accountable for the problems that Main Street is now facing," said Heather Slavkin of the AFL-CIO.

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