Democrats just overcame their last major procedural hurdle to the Wall Street reform legislation becoming law. By a vote of 60-38, the Senate passed cloture and ended debate on the final version of the Dodd-Frank bill.

Moderate Republicans Olympia Snowe, Susan Collins, and Scott Brown voted with the Democrats. Liberal Democrat Russ Feingold voted with the Republicans, on the grounds that the bill won’t be effective. That clears the way for a final vote on passage — majority rules threshold — scheduled this afternoon shortly after 2:00 pm.