Bipartisan pact on ‘too big to fail’-U.S. senators

WASHINGTON, May 4 (BestGrowthStock) – A bipartisan agreement has
been reached on the “too big to fail” provisions in the Wall
Street reform legislation being debated in the Senate, key
lawmakers from both parties said on Monday.

Senator Christopher Dodd, the Democratic chairman of the
Banking Committee, said he had reached an accord with Senator
Richard Shelby, the panel’s top Republican.

“Senator Shelby and I have worked on a larger amendment to
deal with the ‘too big to fail’ provisions, and again all of us
want to see language but let me say in the absence of language
we’ve reached agreement,” Dodd said on the Senate floor.

Republican Senator Judd Gregg said: “I want to congratulate
the chairman of the committee working with the ranking member.
I understand they’ve reached an agreement on how to do the
issue of ‘too big to fail,’ which is a very critical part of
this bill.”

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(Reporting by Kevin Drawbaugh and Andy Sullivan)

Bipartisan pact on ‘too big to fail’-U.S. senators