Grassley Will Oppose Final Financial Reform Bill

Senator Chuck Grassley (R-IA) “plans to vote no on a compromise banking industry regulation bill poised to clear the Senate, having supported the Senate version earlier this year, the Republican said today,” according to the Des Moines Register.

Grassley, a senior Republican, said the new version of the bill includes new spending and covers the increases by using money from the 2008 billion banking industry bailout and raising insurance fees on banks.

“It’s a bill most of Wall Street wants passed. And quite frankly, if Wall Street’s pushing for it, is it really much of a change for Wall Street?” Grassley told reporters in a conference call. “And it seems to me the last thing Iowans would expect in any real reform bill is that Wall Street would be backing it.”

(credit image – daylife/reuters)

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Filed under Banks, Conference Reports, Wall Street

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