Roll Call reports today that Senator Bob Corker’s (R-TN) inability to gather votes during talks over a bailout for struggling automakers may have played a role in financial reform legislation moving forward despite on-going talks.
Corker’s efforts on financial reform are eerily similar to the auto industry bailout deal that he attempted to broker in 2008. And it appears the specter of ’08 played a role in Senate Banking, Housing and Urban Affairs Chairman Chris Dodd’s (D-Conn.) decision to push ahead on his own financial regulatory measure.
Dodd announced Thursday that he would unveil his proposal Monday, setting the stage for a markup in one week. Both Dodd and Corker said talks would continue, but the Republican was clearly stung and criticized Dodd’s move.
Banking aides say Dodd was privately concerned whether Corker, a junior Member who lacks clout within the Republican caucus, would be able to woo any of his GOP colleagues to vote for the bill. In 2008, the auto bailout talks collapsed after Corker was unable to persuade any other Republicans to sign on.
(credit image – getty)
Congress in Your Pocket
