Dodd Acknowledges Possibility Of Party-Line Breakdown
Author: Bill Swindell and Dan Friedman, National Journal
Feb 05, 2010
"Senate Banking Chairman Christopher Dodd Thursday dismissed claims that talks over revamping the nation's financial system have broken down with Banking ranking member Richard Shelby, but he acknowledged that it might not be possible to get GOP support on the bill
Dodd was negotiating with Shelby Thursday night over the scope of consumer protections to be included in legislation that would revamp the nation's regulatory structure, wrangling which will make or break a bipartisan compromise on a top priority for the Obama administration.
The two had a 'blowup' in negotiations this week on whether to give a proposed consumer protection office rule-writing authority over credit cards, home loans and other financial products, Hill and K Street sources said. Dodd wants to give it broad powers, while Shelby wants to limit its reach, they said."
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