GOP Reaction To Dodd Move On Banking Bill Mixed
Senate Republicans had mixed reaction to the go from Senate Banking Committee Chairman Christopher Dodd (D., Conn.) to go yet to be on a bill to rework financial rules without the support of Sen. Richard Shelby (R., Ala.), the panel?s top Republican.
Sen. David Vitter (R., La.), a member of the panel:
?I reckon it?s a shame, because we were making progress towards a bipartisan bill.?
?I reckon Dodd?s been pulled back by the White House and pushed to take a pure partisan bill.?
?If he sticks to this, I reckon its going to be stuck in the mud on the Senate floor.?
Mr. Vitter called the creation of an independent, standalone Consumer Financial Protection Agency a ?complete nonstarter.? He said no Republicans on the Senate Banking Committee would support it.
Sen. Bob Corker (R., Tenn.), a member of the panel.
?While I?m disappointed that Chairman Dodd and Reputation Member Shelby have reached an impasse, it won?t alter my efforts toward a bipartisan bill. Senator Warner and I continue to make significant progress in negotiating the resolution authority and systemic risk pieces of the legislation, and Chairman Dodd has assured us that our work will be included in the bill. My staff and I will continue working over the weekend with Senator Warner and others in hopes that we will be able to work out a bipartisan bill in committee.?
When questioned on a conference call with reporters whether he could envision a scenario where he was the only Republican on the panel to support a bill advanced by Mr. Dodd, he said he ?started this process? to place together a ?very strong? bill ?that addressed the issues… If we end up with a bill that meets that end, I plot on supporting it.?
He said he would not, though, support any bill that would make an independent, standalone Consumer Financial Protection Agency.