UPDATE 1-Senate Republican expects deal on US financial reform

Thu Apr 15, 2010 8:00am EDT

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* Senate Republican expects bipartisan deal

* Says language exists for 'template' agreement (Adds fresh quotes, details and background)

WASHINGTON, April 15 (Reuters) - U.S. Republican Senator Bob Corker said on Thursday he believes a "solid bipartisan bill" on financial regulatory reform will emerge from Congress despite the partisan rhetoric dominating the debate.

"I will be stunned if we do not reach a bipartisan agreement," Corker said in an interview with ABC's "Good Morning America."

"At the end of the day, I think we're going to have a solid bipartisan bill," the Tennessee Republican added. "Republicans do want to see a regulatory bill of this type come to fruition. We know that there are regulatory rules that need to be in place."

His comments came a day after President Barack Obama and top Republicans faced off over a Democratic Senate plan to crack down on Wall Street. Republicans have ripped into the bill, saying it would protect big banks, hurt small banks and guarantee "endless taxpayer bailouts of Wall Street."

Corker and fellow Republican Senator Judd Gregg of New Hampshire are both moderates who have signaled some willingness in the past to work on a bipartisan bill.

"We've already got language to do that. It's a middle of the road consumer protection agency, it's dealing with too-big-to-fail by closing some of these loopholes which are very simple, having a sane derivatives policy -- we all know that needs to be regulated," he said.

"I really believe we could do that in a week's time and get it done and come to the floor." (Reporting by David Morgan; Editing by Doina Chiacu)

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Comments (2)
Nor wrote:
It is nice if common sense prevails and some sort of bipartisan deal could be reached.

Apr 15, 2010 8:45am EDT  --  Report as abuse
Things are starting to finally look up!!
I think the Republicans are finally seeing the light :)

Apr 15, 2010 8:54am EDT  --  Report as abuse
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