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April 21, 2010 - by Eric Naing

Will there really bipartisan cooperation on financial regulation? A Senate committee vote offers a glimpse of hope. The Senate Agriculture Committee today approved a sweeping bill regulating derivatives on an almost party-line vote. The “almost” qualifier is key. Sen. Chuck Grassley [R, IA] surprised many by breaking with his party to vote the bill out of committee. Granted, there is still a long, long way to go on this bill and Sen. Chris Dodd’s [D, CT] broader regulation bill but this could be the first of many cracks in Senate Republican leader Mitch McConnell’s [R, KY] strategy of unanimous opposition. For more, check out today’s Congress Links:

  • The Washington Post looks at the financial regulation landscape and sees opportunities for the Democrats looking for Republican support. (The Washington Post)
  • Sen. McConnell’s claim that Democratic financial reform efforts constitute “endless taxpayer bailouts of Wall Street banks” is false. (PoliFact)
  • When Sen. John McCain [R, AZ] willingly abandoned his “maverick” moniker, did Sen. Bob Corker [R, TN] pick it up? (Mother Jones)
  • Huge surprise: as Congress took up financial regulation, major banks dramatically increased their spending on lobbying. (The Hill)
  • People in both parties have advocated ending the filibuster. Ruth Marcus says “mend it, don’t end it.” (The Washington Post)
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