Posted on 04/26/2010 6:34:41 AM PDT by tobyhill
Senators will face a crucial test vote Monday that could clear the way for debate on far-reaching legislation to overhaul the nation's financial regulatory system -- or end in a partisan standoff -- as Wall Street once again takes center stage on Capitol Hill.
Elsewhere, lawmakers will be preparing to condemn the alleged sins of Wall Street's past and also wrestling over how to prevent such excesses in the future. Top executives from Goldman Sachs, beset by charges that the bank misled its clients by selling them mortgage investments secretly designed to fail, will face questions Tuesday about how the firm profited from betting against the U.S. housing market.
Senate Republicans said Sunday they plan to block efforts to move forward with an overhaul bill unless Democrats alter central elements of the legislation. Meanwhile, Democrats and Obama administration officials spent much of the day finalizing strict new rules to rein in the huge derivatives trade, including measures that could threaten profits at some of the biggest banks.
(Excerpt) Read more at washingtonpost.com ...
Glad to see that the Washington Compost isn’t biased at all here!
I’ll take permanent gridlock as plan C.
bump
as long as GOP Senators are acting all chummy and talking about having a deal, we have plenty of reasons to worry
Threaten profits at some of the biggest banks.Obama’s plan is working.
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