Tags: shelby | gop | banking | overhaul

Shelby: GOP United Against Democrats' Banking Overhaul

Monday, 26 Apr 2010 12:22 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
WASHINGTON – Republican Senator Richard Shelby said on Monday he believed all 41 Republican senators would vote against launching floor debate on a financial reform and try instead to negotiate changes to it.

Shelby, speaking at a meeting of the Independent Community Bankers Association, said Republicans had a better chance of getting strengthening provisions aimed at preventing future bank bailouts if they can halt it from being considered by the full Senate, where Democrats have the majority.

"If we hang together on the floor, we can create critical mass," Shelby said, adding that Republican negotiating power is stronger before the measure goes to the Senate floor. "If we just pass a bill in the Senate and go straight to conference with the house, what have we accomplished?"

Shelby said he and Sen. Christopher J. Dodd, D-Conn., chairman of the Senate Banking Committee, are "conceptually very close" to a deal on the pending bill but that Shelby is pushing to "tighten up some language."

He said the changes he wants focus on three key areas: the particulars of a proposed regulator to protect consumers against lending abuses; the details of new government powers to wind down large, troubled firms without using taxpayer money; and measures to establish oversight of the sprawling and largely opaque market for financial derivatives.

 



© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

US Sending Troops to Poland Amid Tensions Over Russia

Saturday, 19 Apr 2014 11:24 AM

The Obama administration is sending ground troops to Poland in response to Russia's moves in Ukraine, Poland's defense m . . .

White House Uses Bieber Petition to Push Immigration Reform

Saturday, 19 Apr 2014 12:21 PM

Instead of commenting directly on a popular petition to have bad-boy pop star Justin Bieber deported to Canada, the Whit . . .

Holy Fire Ceremony Draws Thousands in Jerusalem

Saturday, 19 Apr 2014 11:47 AM

The dark hall inside Christianity's holiest shrine was illuminated with the flames from thousands of candles on Saturday . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved