Senate Republican expects deal on financial reform

WASHINGTON Thu Apr 15, 2010 12:57pm EDT

Senator Bob Corker speaks during a news conference after a meeting with Nicaragua's vice-president Jaime Morales Carazo in Managua February 22, 2010. REUTERS/Oswaldo Rivas

Senator Bob Corker speaks during a news conference after a meeting with Nicaragua's vice-president Jaime Morales Carazo in Managua February 22, 2010.

Credit: Reuters/Oswaldo Rivas

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WASHINGTON (Reuters) - Republican Senator Bob Corker said 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 (1)
heariam wrote:
For once Corker is using his head for something other than a hatrack… It seems to me the R’s would want something done about the way Wall Street has been let to run loose on the World. The antics they pulled has not only hurt us but has affected almost every Country on this planet.
The R’s need to get in line or get out of the way and let someone that wants to work for the people get something done, and not have to be held hostage just because they feel like getting even with the D’s.

Apr 16, 2010 3:49pm EDT  --  Report as abuse
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