By Kevin Drawbaugh
WASHINGTON, March 5 (Reuters) – Senator Christopher Dodd, chief negotiator for the Democrats in U.S. Senate talks on financial regulation reform, said on Friday he was uncertain whether bipartisan support for a compromise bill could be achieved.
With one of the Obama administration’s top domestic policy priorities in the balance, Dodd sounded wary but hopeful following weeks of discussions that have snagged on a proposal to create a new financial consumer watchdog.
“While we do not have a bipartisan agreement yet at all, we’re getting there, we’re trying. I don’t know if it will happen or not,” Dodd said in remarks on the Senate floor.
“I’m optimistic it can happen, but I’ve been around here long enough to know these things can fall apart very easily. It’s fragile, it’s complex … It’s one of the hardest tasks I’ve ever been asked to undertake,” he added.
Embracing most of the recommendations for tighter bank and capital market regulations made in mid-2009 by President Barack Obama, the House of Representatives in December approved a bill proposing the biggest U.S. regulatory changes since the 1930s.