{"id":185402,"date":"2010-01-15T13:01:18","date_gmt":"2010-01-15T18:01:18","guid":{"rendered":"http:\/\/blogs.wsj.com\/economics\/2010\/01\/15\/senate-lawmakers-working-to-resolve-resolution-powers\/"},"modified":"2010-01-15T13:01:18","modified_gmt":"2010-01-15T18:01:18","slug":"senate-lawmakers-working-to-resolve-%e2%80%98resolution%e2%80%99-powers","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/185402","title":{"rendered":"Senate Lawmakers Working to Resolve \u2018Resolution\u2019 Powers"},"content":{"rendered":"

There\u0092s some buzz in Washington about a tentative bipartisan deal between two lawmakers on the Senate Banking Committee<\/strong> who have been working for weeks to broker a compromise on how to create a \u0093resolution\u0094 mechanism to handle the collapse of large financial companies without forcing taxpayers to bail the companies out.<\/p>\n

Sens. Mark Warner<\/strong> (D., Va.) and Bob Corker<\/strong> (R., Tenn.) have reached an agreement in principal and are working on getting the final language together. Their deal would still need to be signed off on by the top lawmakers on the panel, Sens. Chris Dodd<\/strong> (D., Conn.) and Richard Shelby<\/strong> (R., Ala.), but it\u0092s the first sign of a bipartisan compromise to come out of the Senate on financial regulation in months and could pave the way for a broader deal.<\/p>\n

Their deal would work something like this, according to someone familiar with the talks:<\/p>\n

It would create a \u0093presumption\u0094 that large, failing financial companies would have to go through a new bankruptcy process. This is different than what the White House proposed, which would give the government immediate control to put large, failing firms through a government-controlled resolution. The Warner\/Corker deal would give the government the option to still put failing firms through a government-structured resolution, but they would have to clear hurdles first and it would be a bit more complicated.<\/p>\n

The deal still hasn\u0092t been completely filled out, but details were reported Wednesday by Dow Jones Newswires.<\/p>\n

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There\u0092s some buzz in Washington about a tentative bipartisan deal between two lawmakers on the Senate Banking Committee who have been working for weeks to broker a compromise on how to create a \u0093resolution\u0094 mechanism to handle the collapse of large financial companies without forcing taxpayers to bail the companies out. Sens. Mark Warner (D., […]<\/p>\n","protected":false},"author":850,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-185402","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/185402","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/850"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=185402"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/185402\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=185402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=185402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=185402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}