Republican Senator Richard Shelby said he and Banking Committee Chairman Christopher Dodd are close to reaching a bipartisan agreement on financial overhaul legislation the Senate plans to begin considering this week or next.
Peter A. Diamond , a professor at the Massachusetts Institute of Technology since 1966 and a diehard Boston Red Sox fan, last year shared the Nobel Prize in economics and was invited to throw out the first pitch at a home game in Fenway Park.
The main Republican negotiator on U.S. financial-overhaul legislation said he was close to an agreement on language governing bank bailouts, a move that may break the Senate impasse over whether to begin debate.
Richard Shelby , ranking Republican on the Senate Banking Committee, requested the panel review insurers’ profits from the practice of retaining soldiers’ death benefits rather than making lump-sum payments to survivors.
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.