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US Sen Shelby says can see financial reform by May
WASHINGTON, April 14 |
WASHINGTON, April 14 (Reuters) - U.S. Republican Senator Richard Shelby said on Wednesday that he continues to work with Democrats on a bipartisan financial reform bill, and holds out hope for passage by May or early June.
Shelby, the top Republican on the Senate Banking Committee, said Democratic Senator Christopher Dodd's current bill will not get Republican support because it preserves the perception that some firms are "too big to fail."
"It's a bad concept to bail out anybody," Shelby said in an interview with CNBC Television.
But he said Republicans will continue talking with Democrats to iron out differences, including in the area of derivatives. Shelby said some end-users of derivatives should not be subject to new, strict regulations. (Reporting by Karey Wutkowski, editing by Gerald E. McCormick)
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