Dodd’s Decision to Snub Republicans Could Stall Financial Bill
Author: Alison Vekshin and Phil Mattingly, Bloomberg
Mar 12, 2010
"The most ambitious attempt to overhaul U.S. financial rules since the 1930s suffered a setback as the third bipartisan push collapsed, setting the stage for wrangling that could delay a final bill for months.
Senate Banking Committee Chairman Christopher Dodd, whose talks with Republican Bob Corker of Tennessee ended yesterday, now plans to introduce his own bill March 15. A lack of bipartisan backing may diminish the bill's chances in a Senate where Republicans are needed to advance legislation.
'We were already becoming increasingly pessimistic about the chances of a bill,' said Brian Gardner, an analyst at New York-based Keefe Bruyette & Woods Inc. Dodd's announcement 'just bolsters our view.'"
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