discouraging them. the president said that argument may make for a good sound bite but it's not true major garrett is sorting it all out from the white house tonight. this is a shootout in the senate it would appear. >> that's right. two parts to the story. showdown part first. current legislative strategy of senate democrats. they have called for a vote on monday to test whether or not republicans, all 41 of them will line up and defend their current filibuster against proceeding to a bill on regulatory reform of the financial seq. for. if democrats can't get the 60 votes they need. they have to refrench and come up with a new plan. senator leader harry reid explaining why now is the time for confrontation. >> my friends on the other side of the aisle are betting on failure again as they have done with health care and everything this year. health care was not obama's waterloo. maybe they want this to be his waterloo but it's not going to be. >> democrats belief they are going to prevail and as i said, shepard, we will get to in just a minute there is a compromise