The first test cloture vote is taking place right now in the Senate. In true form, Ben Nelson has voted with his Republican friends and Wall Street benefactors to filibuster financial reform. He didn't even have to do it: The Republicans had already promised a united front to block it from proceeding to debate.

Ben Nelson's message to the rest of us? Wall Street doesn't need no stinkin' reform. At least, not any reform that might actually be, well...reform.

Other remarkable moments from the debate ahead of the vote include Judd Gregg (R-NH) bashing populist anger against Wall Street and Bernie Sanders answering that point for point. I'm trying to find the video on that, because both are moments worth watching.

Update #2: Reaction has been swift and harsh:

President Obama is "deeply disappointed" that Republicans voted as a block and Nancy Pelosi's blog has a whole string of reactions. The theme is the same: Blocking debate benefits no one but Wall Street.

Update #1: Q1 Campaign contributions to Nelson 2012

3/31/2010:

$500 - LobbyDC.com LLC: Pat Raffaniello Former Director of Affairs for the NRA, Staffer for Cong. Bill Brewster, founder of the BlueDog Coalition

$1000 - Hunton & Williams: Georgia law firm serving corporate interests, including the financial industry

$1500 - Lawyer for Canfield and Associates, Virginia firm representing the Consumer Mortgage Coalition

$500 - Bill Brewster (see above)

$500 - Andrew Dodson The Bockomy Group

$1600 - Dwight Eberle (MI)

$1000 - Trevor Fetter - Tenet Healthcare President

$500 - TyLynn Gordon - Strategies 360 (PR Firm)

$1000 - Gary (last name unintelligible) Law firm partner, Nebraska

$2300 - Frederick Graefe - Law Offices Frederick Graefe

$2400 - Charles Gray - Oklahoma State Representative

$500 - Brian Griffin - Duberstein Group Consultant (see Muckety map for relationships)

$1400 - Chris Hastings - Hastings & Associates (Oklahoma attorney)

$1400 - Tori Hastings - See above

$1000 - Jonathon Jones - Peck Madigan Jones & Stewart Consultant/Partner

$500 - Daniel Lonergan - Tenaska Capital Management

$500 - Eric Merhoun - Old Mutual Financial

$2400 - Brian Mason - Great Western Industry CEO (TX) - Primary

$2400 - Brian Mason - Great Western Industry CEO (TX) - General

$1700 - Blair O'Connor - self-employed Insurance (MI)

$500 - Joy Phillipi - American Meat Institute

$500 - Brian Pomper - Parven Pomper Strategies

$500 - Francis Smith - HomeStar Bank (Chairman)

$4800 - Amy Tejral - Former Nelson Legislative Director, now lobbyist at Avenue Solutions

$500 - Robert Van Heuvelen - VH Strategies principal

$1500 - Accenture PAC

$1000 - AFLAC PAC

$1000 - AGL Resources, Inc PAC

$1000 - American Gas Association PAC

$2000 - Bayer Corporation PAC

$1000 - Blank Rome LLP PAC

$5000 - BNSF RR, PAC

$1000 - Emerson Electric PAC

$2000 - Federation of American Hospitals

$2500 - HCA Good Government Fund PAC

$1000 - Honeywell International PAC

$1500 - Level 3 Communications PAC

$1000 - Marathon Co PAC

$5000 - MidAmerican Energy Company PAC

$1000 - National Propane Gas PAC

$1000 - NFG FEDPAC

$500 - Nicor PAC

$5000 - Norfolk Southern Corporation PAC

$1000 - Pacific Life Insurance Co PAC

$1500 - Pharmaceutical Research PAC

$1000 - Power PAC (Edison Electric Institute)

$1000 - Sell Insurance PAC

$1500 - SRA International Inc PAC

$2000 - Tenet Healthcare Corp PAC

$2000 - Touchmark PAC (AL)

$2500 - United Health Group PAC

$1000 - Universal Health Services PAC

$2000 - Vanguard Health Management PAC

$5000 - Washington Advocacy PAC