By Vicki Needham - 04/28/10 05:15 PM EDT
Top Senate Banking Republicans conceded Wednesday that the financial regulatory reform bill will probably head to the floor without a bipartisan agreement even though they aren't ready to move the measure along.
Senate Banking ranking member Richard Shelby (R-Ala.) and Sen. Bob Corker (R-Tenn.) told reporters that all roads lead to floor debate but they want to spend the rest of this afternoon ironing out the finer points of 'too big to fail', derivatives provisions and how a consumer protection agency would work.
"There's no alternative," Corker said. "We're just not there yet."
Meanwhile, the Senate's Democratic leadership threatened an all-nighter with possible recurring votes and unanimous consent requests to end the stalemate on the bill.
Senate Majority Whip Dick Durbin (D-Ill.) said "all options" were on the table to keep the floor open all night but voting decisions are up to Senate Majority Leader Harry Reid (D-Nev.).
The third cloture vote in as many days failed 56-42, with Sen. Ben Nelson (D-Neb.) voting against the measure.