Reid says financial overhaul bill to move before Memorial Day

Senate Majority Leader Harry Reid (D-Nev.) said Wednesday that Democrats would move financial overhaul legislation before the Memorial Day break.

"It's extremely important that we do something," Reid said.

ADVERTISEMENT
"It's something we're going to do before Memorial Day break. We're going to have to take this up and send a bill to the House to start a conference process."

Financial overhaul legislation is gaining urgency this week, with Senate Banking Committee Chairman Chris Dodd (D-Conn.) saying Thursday that he would unveil a bill on Monday without any firm Republican support.

Dodd and Sen. Bob Corker (R-Tenn.) spent weeks negotiating a bipartisan package of reforms. But on Thursday Dodd said that there were "outstanding issues" and that he would move to introduce legislation without a firm deal. He is aiming to hold a markup the last week of the month.


Corker said that it was "disappointing" and that the lawmakers were on the "5-yard line" of negotiations.

Corker blamed the White House and the politics of healthcare for complicating the talks.

Dodd and Corker said they would continue negotiating.