A lot is being written by the usual bloggers as well as MSM outlets (see here) about the risk Senate Republicans are taking by stalling financial reform. It makes for a great story and the logic is solid, except that it's just wrong.
The GOP has nothing to lose from filibustering financial reform because there are no vulnerable Republican senators left in the Senate. Those who might be vulnerable like Judd Gregg (R-NH) or Voinovich (R-OH) or even Bond (R-MO) are retiring and those who might have been sweating like McCain (R-AZ) and Grassley (R-IA) had their strong Democratic rivals take cabinet post in the Obama Administration. The one positive for the GOP to come from the beatings they took in 2006 and 2008 is that they lost all their vulnerable seats.
The GOP might risk not gaining as many seats as they otherwise would, but that's pretty abstract (abstract thought has never been a strong suit for Republicans) and there's still a lot of time between now and November so Republicans are pretty much in the driver's seat.
Conversely, from a financial perspective, this has to be a huge money raiser for all things Republican related.
All we can do is sit back, watch and see if Harry Reid really can pull his ass out of the fire.