Final Financial Reform Vote May be Delayed

https://i2.wp.com/cache.daylife.com/imageserve/0dsz7zh2sp9nL/610x.jpg

A spokesman for “Senate Majority Leader Harry Reid (D-Nev.) said Tuesday that it would be difficult to hold a vote on the Wall Street reform legislation this week,” The Hill reports.

House and Senate conferees reopened their meetings Tuesday after Republicans expressed opposition to a $19 billion fee on financial institutions included in the conference report last week.

With Sen. Robert Byrd (D-W.Va.) scheduled to lie in repose on the Senate floor almost all day Thursday and with work left to do on the legislation, spokesman Jim Manley told reporters that completing wok would be "difficult but it’s still possible."

Meanwhile, a separate article notes that Democrats “will put forward a proposal to shut down the 2008 Wall Street bailout bill when they reconvene the conference committee on financial reform legislation this afternoon.”

Part of those talks will include a proposal to shut down the $750 billion Troubled Asset Relief Program (TARP) authorized in 2008 at the height of the financial crisis, and a proposal to use unused TARP authority to pay off the costs of the bill.

(credit image – daylife/reuters)

Leave a comment

Filed under Banks, Conference Reports, TARP, Wall Street

Leave a Reply

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

WordPress.com Logo

You are commenting using your WordPress.com 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