Gregg: GOP locking down against financial reform bill

Senate Republicans are holding a caucus meeting late Wednesday afternoon on the Democratic banking reform bill, which one senior Republican said the party will unanimously oppose.

Sen. Judd Gregg (N.H.), ranking Republican on the Senate Budget Committee, said senators are being urged by GOP Leader Mitch McConnell (Ky.) to oppose the bill.

"We want to be back at the negotiating table, and the way we get there is by making it clear that they're not going to be able to pass it," Gregg said. "We're not going to let it off the floor unless they come back and negotiate with us."