UPDATE 2-US Senate could vote on Wall St reform this week-Reid

* Reid says “could” move Monday to finish debate on bill

* White House expects to have bill for Obama to sign soon

* End-game on pending amendments will be crucial factor
(Adds Reid, White House comments, background, byline)

By Kevin Drawbaugh

WASHINGTON, May 17 (BestGrowthStock) – The U.S. Senate could hold a
final vote this week on the biggest overhaul of financial
regulation since the 1930s, Senate Majority Leader Harry Reid
said on Monday.

“If our Republican colleagues stick to their strategy of
indefinite delay, I will — like I said last week — file
cloture as soon as tonight so we can hold a final vote this
week,” said Reid on the Senate floor as it reconvened,
referring to a cloture motion to wind up debate on a bill.

Reid spokesman Jim Manley told Reuters that Reid likely
would begin the process later on Monday of wrapping up debate.

Another Democratic leadership aide voiced confidence that
Reid could muster the needed 60 votes in the 100-member Senate
on Wednesday to limit debate to an additional 30 hours. After
that period, the Senate would be clear to vote on passage.

A Republican aide said it remained unclear if Reid would
get the needed 60 votes, but acknowledged it was possible and a
final vote on passage could come this week.

A key issue will be whether enough senators believe the
chamber can complete consideration within the next few days of
amendments to the bill that are still being discussed.

White House spokesman Robert Gibbs said on Monday the
administration expects to have a financial regulation bill for
President Barack Obama to sign into law soon.

“I think there is some reason to believe that the Senate
will conclude its business this week,” White House spokesman
Robert Gibbs told reporters.

“Obviously, the next steps will be working though those
differences with the House and I think we will have a bill to
the president’s desk somewhat shortly,” Gibbs said.

The House of Representatives approved a Wall Street reform
bill in December that embraced many of the reform proposals put
forward in mid-2009 by Obama in an effort to prevent a
recurrence of the devastating 2007-2009 financial crisis.

Although a final vote is expected soon in the Senate,
lawmakers have yet to settle disputes on regulating
over-the-counter derivatives, curbing risky trading by banks,
and deciding on how much power states should have over banks.

Resolution on these topics will be needed before the Senate
can approve the massive Democratic bill that has been under
development for months now.

The Senate bill also will need to be merged with the House
version.

Stock Investing

(Additional reporting by Andy Sullivan, Thomas Ferraro and
Caren Bohan; Editing by Neil Stempleman)

UPDATE 2-US Senate could vote on Wall St reform this week-Reid