Dodd in talks over congressional input in taxpayer bailouts

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http://www.marketwatch.com/story/dodd-eyes-congressional-input-in-taxpayer-infusion-2010-04-27?dist=afterbell

After receiving two major setbacks on bank reform legislation, Senate Banking Committee Chairman Christopher Dodd once again is working on reaching a compromise with Republicans over how much taxpayer funds could be put at risk in the event of a financial crisis.

For the second day in a row, the Senate failed Tuesday to overcome a Republican filibuster that is keeping the Wall Street bill bottled up. The vote was 57-41, identical to Monday's vote. To even bring the bill up for debate, the "aye" votes of 60 senators would be needed.

One of the key points of contention is how much taxpayer money could be used to stop future financial panics, and how that funding would be approved.

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Sen. Barbara Boxer, D-Calif., plans to introduce a provision that would make it clear that no taxpayer money can be used for any bailouts, Dodd said.