{"id":427438,"date":"2010-03-14T19:42:38","date_gmt":"2010-03-14T23:42:38","guid":{"rendered":"http:\/\/blogs.wsj.com\/economics\/2010\/03\/14\/sen-corker-says-dodd-bill-likely-pulled-left-by-treasury\/"},"modified":"2010-03-14T19:42:38","modified_gmt":"2010-03-14T23:42:38","slug":"sen-corker-says-dodd-bill-likely-pulled-%e2%80%98left%e2%80%99-by-treasury","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/427438","title":{"rendered":"Sen. Corker Says Dodd Bill Likely Pulled \u2018Left\u2019 by Treasury"},"content":{"rendered":"

Sen. Bob Corker<\/strong> (R., Tenn.) spoke with the Wall Street Journal about the bill Senate Banking Committee Chairman Christopher Dodd<\/strong> (D., Conn.) plans to introduce Monday to overhaul financial market regulation. Messrs. Corker and Dodd tried to strike a bipartisan compromise on the package until Mr. Dodd abruptly said last week they likely wouldn\u0092t be able to introduce a joint bill because of time constraints.<\/p>\n

WSJ:<\/strong> What\u0092s happened in the last 48 hours?<\/p>\n

Sen. Corker:<\/strong> \u0093There was no question in my mind that when things were as they were Thursday, that [Sen. Dodd] was going to move to the left with the bill to make sure that at least in committee he had almost all the Democrats. He obviously didn\u0092t want to find himself jammed in committee which would have been very embarrassing\u0085<\/p>\n

\u0093If he continued talking to me and moving over to the mdde of the road, he was losing Democrats\u0085\u0094<\/p>\n

\u0093There\u0092s no question that Treasury is pushing left, and that\u0092s what I would expect at this point. Hopefully we can have some amendments passed in committee to move it back in the middle of the road. We woke up on Friday moring, dusted ourselves off and are back at it. Our staff has been engaged\u0085<\/p>\n

\u0093We\u0092ve noticed throughout the weekend Treasury\u0092s impact on the bill has moved it away from where we had been, no question.\u0094<\/p>\n

\u0093It would be my guess that \u0091enforcement\u0092 has probably taken on a different sort of place in the consumer side.\u0094<\/p>\n

\u0093At least the starting point is going to be much better this time. At least the bill will be amendmable this time. It will be in a place where you can make amendments. It\u0092s still my goal to keep working in committee, we may not get there in committee because his time frame is so short\u0085<\/p>\n

\u0093I hope we can get a bipartisan bill out of committee, but the timeframe is awfully short for that kind of thing to occur\u0085<\/p>\n

WSJ:<\/strong> Given the political climate, is a deal still possible?<\/p>\n

Sen. Corker:<\/strong> \u0093I don\u0092t think there\u0092s any qetison that Sen. Dodd wants a bipartisan bill. I don\u0092t think ther\u0092s any question, hopefully, in anybody\u0092s mind that I\u0092d like to see a bipartisan bill. I think Mark Warner would like to see one. I think Judd Gregg would like to see one. I think Richard Shelby would like to see one\u0085<\/p>\n

\u0093If on the consumer piece, we can\u0092t get to where there\u0092s an appropriate relationship between the prudential regulator and new consumer agency, that\u0092s obviously going to be problematic\u0085<\/p>\n

\u0093There\u0092s a lot of things that we haven\u0092t even talked about that are important aspects of the bill. If you really look at what created our financial issues, there were a lot of loans made that couldn\u0092t be paid back. The underwriting was terrible, and if we don\u0092t address that somehow, which was the core issue in the beginning, we haven\u0092t done a whole lot. Hopefully we will.\u0094<\/p>\n

\u0093I continue to be very optimistic. One of the good things that\u0092s happened since Thursday, one of the positive outcomes has been just the level of engagement now among lots of people.\u0094<\/p>\n

Where do you think the bill will be with respect to the \u0093Volcker Rule\u0094?<\/p>\n

Sen. Corker:<\/strong> \u0093I would bet, especially with the high level of Treasury involvement that we\u0092ve seen over the weekend and that fact that they actually issued language a week and a half ago, I would be surprised if the Volcker Rule is not strongly addressed, pretty strongly addressed int eh text that comes out on Monday.\u0094<\/p>\n

WSJ:<\/strong> Will you offer amendments in the committee?<\/p>\n

Sen. Corker:<\/strong> I know generally speaking that he bill is going to move to the left of where we had stopped. I\u0092m going to offer amendments to try to get it back in the middle of the road and do so in a constructive way so we can get to place where we can hopefully get to an 80 vote bill. I don\u0092t view that as anything but positive.\u0094<\/p>\n

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Sen. Bob Corker (R., Tenn.) spoke with the Wall Street Journal about the bill Senate Banking Committee Chairman Christopher Dodd (D., Conn.) plans to introduce Monday to overhaul financial market regulation. Messrs. Corker and Dodd tried to strike a bipartisan compromise on the package until Mr. Dodd abruptly said last week they likely wouldn\u0092t be […]<\/p>\n","protected":false},"author":850,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-427438","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/427438","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=427438"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/427438\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=427438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=427438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=427438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}