Senate Banking Committee Chairman Chris Dodd (D-Conn.) and Sen. Bob Corker (R-Tenn.) will unveil their financial reform bill early next week, according to Dodd's panel.
Kristen Brost, a spokesperson for the banking panel, posted a Twitter message after the two senators met with Treasury Secretary Timothy Geithner:
#FinancialReform talks are going well, Dodd & Corker meet with Geither today, now looks like we will have a bill early next week.
The announcement shows that Corker and Dodd were able to make progress after the former stepped in as the Republican negotiator on the bill after talks with Banking Committe Ranking Republican Richard Shelby (Ala.) reached an "impasse" earlier this month.
has expressed a the need to develop a new system to dissolve financial
firms deemed "too big to fail" so that they do not require a bailout
like many Wall St. banks received in 2008.
The Republican senator has also worked closely with fellow committee member Sen. Mark Warner (D-Va.) to create a stronger bankruptcy code to deal with such firms.
It's also worth noting that the Banking Committee just joined Twitter last week, and has 59 followers.
Cross-posted to the Briefing Room