Dodd, Shelby upbeat about financial reform bill

Senate Banking Chairman Chris Dodd (D-Conn.) remained optimistic on the prospects of moving forward on financial regulatory reform bill that has been the subject of intense negotiations this week. 

With negotiations likely to continue through the weekend, ranking member Richard Shelby (R-Ala.) said his main goal is "to do it right" and that he shares similar goals with Dodd.  

"I think we can make some progress, some real progress toward a common goal to have a strong financial system that's well regulated," Shelby said. 

Dodd and Shelby urged the continuation of talks on the measure that would end bailouts, better protect consumers, limit the risk-taking of financial institutions and ensure that no bank is too big to fail. 

"I remain optimistic that we'll get the job done," Dodd said. 

A cloture vote on the bill is set for 5:15 p.m. Monday. 

Dodd tried to ensure his colleagues in both parties that the bill can be improved but debate needs to begin. 

"Let's get to the debate, the American people can't tolerate doing nothing," he said. "We need to have the votes on Monday."