Senate Banking Committee Chairman Christopher Dodd said he and Republican Senator Richard Shelby have agreed “conceptually” on changes to the financial- overhaul bill aimed at preventing bailouts of Wall Street firms.
Senator Christopher Dodd , who is steering the financial-overhaul bill through the Senate, said last week’s market plunge illustrates the need for the legislation, which is aimed at detecting and alleviating developments that could disrupt the economy.
Senator Christopher Dodd , co-author of the biggest overhaul of financial regulation since the 1930s, said he fears bankruptcy courts would be ill-equipped to handle the collapses of interconnected firms not covered by the law.
Senate Banking Committee Chairman Christopher Dodd proposed creating a consumer-protection agency to regulate credit and bank products and shield consumers as part of a plan to overhaul U.S. rules governing Wall Street.
Elizabeth Warren , the Harvard University professor touted to head a new consumer protection bureau, may not have sufficient support to win confirmation to the post, Senator Christopher Dodd said in a radio interview.
Senators Christopher Dodd and Richard Shelby, who are negotiating a bipartisan compromise on the financial reform bill, said while they don’t have a deal yet they are “getting there” on resolving their differences.