Skip to comments.Dodd sees new hope for bipartisan bank bill
Posted on 02/11/2010 9:23:54 AM PST by Cheap_Hessian
WASHINGTON (AP) - Senate Democrats are trying a new route to break through an impasse on writing banking rules to prevent another financial meltdown.
Senate Banking Committee Chairman Christopher Dodd said Thursday he has recruited Republican Sen. Bob Corker of Tennessee to help draft a bill that can win the GOP support needed to get it through the Senate.
Because of Corker's willingness to negotiate, Dodd said he is "more optimistic than I have been in several weeks that we can develop a consensus bill."
Less than a week ago, Dodd said talks with the committee's top Republican, Sen. Richard Shelby, had reached an impasse.
(Excerpt) Read more at breitbart.com ...
Stories in this subject are hard to follow. There’s the obvi need to deal with the systemic risk of those too big to fail. Then there’s the CFPA that would regulate furniture stores and other small outfits that extend any sort of credit, convenience store ATM fees, stuff like that. I can see doing something on the former after tons of study, the later is a morass thrown together to grab headlines from lefty reporters that can’t think their way out of a paper bag.
Is this another Republican willing to help bail out a corrupt and failing Senator’s efforts?
Ah yes. Very familiar with this death of lending bill. If the demorats get their way on this one there will be no more private lending in the future. Only government will loan money.
The restrictions placed on recovering debt (in the house version) are so severe that it renders to process unprofitable.
You can’t loan money if you’re forbidden to collect.