All 41 GOP Senators United in Opposition to Financial Reform Bill (Collins finally agreed)

4-16-10

[STARWISE]

All 41 Republican senators have signed a letter to Senate Majority Leader Harry Reid saying they are opposed to the financial regulation bill put forward by Democratic Sen. Chris Dodd ....

The letter calls for further negotiations, but it does not go as far as to say all 41 senators would support a filibuster of the legislation.

*snip*

The GOP's contention that the reforms amount to a "bailout bill" seem to follow the advice of a GOP pollster and focused on a provision in the legislation to create a $50 billion bank liquidation fund. The charge was sharply rebuked by the White House, but the administration is now conceding on the issue of the bank liquidation fund.

*snip*

The provision in question would compel large financial institutions to provide the $50 billion, which the Federal Deposit Insurance Corp. would use to pay for dismantling giant failing firms. Instead, the administration wants the costs of liquidation to be paid by the financial industry after a firm has failed and been dismantled, according to

[CPT Clay]

Good to go.