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Financial reform bill takes shape as decision looms on ‘Fed audit’

Mark Trumbull
Christian Science Monitor [1]
May 8, 2010

The Senate’s financial reform bill moved forward this week, and some key battles about the future of bank regulation are now being settled out in the open rather than in back rooms.

It’s a process filled with partisan mudslinging as well as Senate-floor votes.

Rep. Ron Paul (R) of Texas blasted Sen. Bernie Sanders (I) of Vermont for having “sold out” on elements of a Federal Reserve audit that both support. And as senators sparred over other proposed amendments to the bill, the White House and congressional Republicans jabbed at one another with dueling lists of “10 loopholes” allegedly supported by the other party.

At this point, the House has already passed a financial reform bill. Sen. Christopher Dodd (D) of Connecticut put his version out on the Senate floor this week, in a bid by Senate leadership [2] to get a reform bill to President Obama for signing [3] within weeks.

Full article here [1]