By DAVID M. HERSZENHORN

WASHINGTON — Senate Republicans on Thursday blocked an effort by Democrats to start debate on legislation to tighten regulation of the nation’s financial system, and the two sides traded bitter accusations about who was standing in the way of a bipartisan agreement.

The majority leader, Harry Reid of Nevada, asked Republicans to agree to begin debating the measure, which would impose a sweeping regulatory framework on Wall Street and big financial institutions. But the Republican leader, Senator Mitch McConnell of Kentucky, objected, saying Democrats were pre-empting negotiations to reach a deal.

In response, Mr. Reid said he would call the first procedural vote on Monday in an effort to stop the Republican filibuster. That vote could test Republican resolve to oppose the measure in an election year, amid public dismay over big Wall Street profits and bonuses even as unemployment remains high.

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By Ralph Z. Hallow

Barely 6 1/2 months before the midterm elections, an internal investigation by the Republican National Committee has revealed that the organization is beset with questionable financial management and oversight and is spending more money courting top-dollar donors than it raises.

The investigation found that the Republican Party’s national governing body is losing money on its major-donors’ fundraising program — spending $1.09 for each $1.00 raised, according to RNC members privy to the investigation’s findings. It typically costs about 40 cents for every dollar raised from donors who give more than $1,000.

The investigation also found that the RNC has allowed employees to forge Finance Director Rob Bickhart’s initials on expense-reimbursement request approvals, according to an RNC member who spoke on the condition of anonymity for fear of retaliation. The RNC’s top elected and appointed management have united in defense of the committee’s practices. RNC Chairman Michael S. Steele can withhold or increase RNC contributions to a state party.

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By John J. Miller

Stupak’s first congressional district is in rural Michigan—it encompasses the entire Upper Peninsula and the top tier of the Lower Peninsula. How rural is it? I think there’s a spot in the UP’s Keweenaw Penninsula (the birthplace of my grandfather), that is farther away from an interstate highway than any other spot in the continental United States. It’s also big—the biggest congressional district east of the Mississippi, except for a bigger one in Maine. This is a seat Republicans will target and can win.

UPDATE: The likely GOP nominee is Dan Benishek, a Yooper (i.e., from the Upper Peninsula), a doctor, and a political neophyte.

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