Financial Reform Debate Begins

The Senate will begin debate “on the Wall Street reform bill shortly after noon Thursday,” The Hill reports.

Lawmakers will immediately consider a substitute amendment offered by Senate Banking Committee Chairman Chris Dodd (D-Conn.) and Agriculture Committee Chairman Blanche Lincoln (D-Ark.).

Republicans say Dodd has agreed to drop a $50 billion fund to liquidate large, troubled financial institutions. But senior Democratic aides say that no guarantees have been made to Republicans and their concerns “will be worked out on the Senate floor.

The floor debate is “expected to stretch over the next two weeks, giving Senate Democrats a chance to pass the legislation by mid-May.”

The bill is S. 3217 (Restoring American Financial Stability Act).

(credit image – wordpress)

Leave a comment

Filed under Banks, Wall Street

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s