Senate, Financial Reform | featured news

A Senate committee on Wednesday passed a proposal aimed at helping protect the economy from future meltdowns and taxpayers from more Wall Street bailouts.

Senate leaders on Tuesday began their sparring over the financial reform bill, setting the tone for what is expected to weeks of debate on lawmakers' next pitched battle.

President Barack vowed Friday to veto a financial overhaul bill that doesn't regulate the eclectic derivatives market, even as Senate Republicans lined up en mass against it.

Republican Senator Bob Corker said Thursday he believes a "solid bipartisan bill" on financial regulatory reform will emerge from Congress despite the partisan rhetoric dominating the debate.

With time running out on the Senate calendar, the banking committee chairman says he wants the panel to begin considering the bill March 22, even though the GOP can block legislation.

With time running out this year for the Senate to deal with financial regulatory reform legislation, Senate Banking Committee Chairman Christopher Dodd said Thursday he plans to offer his own bill after lengthy bipartisan talks failed to produce a consensus.