Corker: “Very Good Chance” on Wall St. Bill

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Sen. Bob Corker (R-Tenn.), a top GOP negotiator on the Senate’s financial reform bill, says the odds for a bipartisan bill are “still very, very good.” In remarks to reporters today, Corker, who spent weeks this winter as the top GOP negotiator alongside Sen. Chris Dodd (D-Conn.), added that while no agreement between the two parties had been reached—and that differences remained within the parties as well—he was still optimistic about passing a financial reform bill with bipartisan support.

Asked about reports of an alternative GOP financial reform bill, Corker seemed to scoff at the idea, saying he was “not sure about that” and hadn’t seen the bill yet. The day’s financial-related happenings will come to a head around 5 pm, when the full Senate has a cloture vote (a vote to begin debate on the bill). Democrats and Republicans have spent much of the day in closed-door negotiations trying to resolve differences on the bill. Those disagreements concern parts of the bill on unwinding too-big-to-fail banks and regulating derivatives, the complex financial products that amplified the housing meltdown and spread losses throughout the global economy. But there haven’t been any breakthroughs reported yet, setting the stage for a party line vote this evening in which 59 Democrats are anticipated to vote for beginning debate and 41 Republicans will block that debate.

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily bluster—Mother Jones' journalism is driven by one simple question: Will America move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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