It looks like the Republicans finally grew tired of being on the wrong side of public opinion. Some sort of financial regulation reform is likely now that the GOP has given up on a filibuster.
The next question is will the Democrats produce a bill that actually works.
Here’s more perspective.
Fox Business News: US Senate clears hurdle on financial-overhaul bill
CNN: GOP ends filibuster blocking financial reform debate
The New York Times: Republicans Allow Debate on Financial Overhaul