Bank Panel Clears Bill on Overhaul

[Omaha Steve]

Source: NY Times

By SEWELL CHAN

WASHINGTON — The Senate Banking Committee voted on Monday to send to the full Senate a Democratic bill to overhaul the nation’s financial system, deferring, for now, an anticipated partisan fight over the legislation.

Although the vote was along party lines, with all 13 Democrats voting yes and all 10 Republicans voting no, senators said the decision would give both sides more time to shape a compromise that could attract broad support on the Senate floor.

So far, a deal “continues to elude us,” Richard C. Shelby of Alabama, the top Republican on the committee, said. “However, that does not mean that an agreement is out of reach.”

Senator Mark Warner, a Virginia Democrat who has played a leading role in negotiations over the legislation, told reporters, “A straight party-line vote on the mark-up may actually enhance the chances for a bipartisan bill on the floor.”


Read more: http://www.nytimes.com/2010/03/23/business/23regulate.html?partner=EXCITE&ei=5043

[earcandle]

1. So how are these parties defined on this bill? Who is for reform, who is against it?

[elias49]

2. Read the article. It isn't that long. n/t