Wolin, Reed, Warner Support Dodd Move to Push Forward on Bank Bill
Ahead of schedule reaction from senior Democrats was supportive of a choice by Senate Banking Committee Chairman Christopher Dodd (D., Conn.) to plow yet to be with a bill to overhaul financial regulations after announcing talks with Sen. Richard Shelby (R., Ala.) had reached an impasse.
Reserves Department Deputy Secretary Neal Wolin:
“Enacting comprehensive financial reform remains an urgent priority and we believe it is vital that the process go forward.”
Sen. Jack Reed (D., R.I.), a senior member of Mr. Dodd?s panel:
?There?s been a real sense on both sides that we have to get legislation passed?We?ve come to the point where there?s some issues we haven?t got a satisfactory, mutual answer. At that point, you could talk forever. You have to say, ?let?s go down to the Senate floor, and let?s debate it.??
Sen. Mark Warner (D., Va.)
?It has been nearly two years since Bear Stearns collapsed, and 18 months since Lehman Brothers went into Chapter 11 and AIG was bailed-out by the taxpayers. We must go forward to modernize our regulations in order to restore American leadership in global financial markets.?