GOP to Meet Dodd “Half Way”

Flickr/<a href="http://www.flickr.com/photos/gregskibinski/1573240763/">Gregory.Skibinski</a>

Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.


Sen. Chris Dodd (D-Conn.) may be flying solo today when he releases his own bill to rein in Wall Street, but a top GOP senator says he’s willing to meet Dodd “at least half way” on a bipartisan financial reform bill. Sen. Richard Shelby (R-Ala.), the banking committee’s ranking member, told CNBC a bipartisan deal could still be brokered between Dodd and Senate Republicans. Shelby, however, has also issued a warning to Dodd, the banking committee’s chairman, against rushing the legislation through Congress. In a letter from Senate GOPers sent to Dodd on Friday, Republicans wrote that “proposed timetable will not allow members sufficient time to fully understand the details of [the] legislative proposal.” Shelby similarly told CNBC that “we don’t believe you can rush [a financial reform bill] through.”

Shelby’s olive branch marks the latest offer in a months-long power struggle between Dodd and Senate Republicans. Dodd had initially begun his negotiations earlier this year with Shelby as his main partner. Those talks soon hit an “impasse,” and Dodd bumped Shelby for Sen. Bob Corker (R-Tenn.) as his new GOP dance partner. Last week, however, Dodd abruptly abandoned those talks—so near agreement were Dodd and Corker that the Tennessee senator said they were “at the five-yard line”—and announced he would be releasing his own version of financial reform today. Dodd’s much-awaited press conference is at 2 pm today, and we’ll have all the details of and reactions to Dodd’s new bill here.

TIME IS RUNNING OUT!

We have an ambitious $350,000 online fundraising goal this month and it's truly crunch time: About 15 percent of our yearly online giving usually comes in during the final week of the year, and in "No Cute Headlines or Manipulative BS," we explain why we simply can't afford to come up short right now.

The bottom line: Corporations and powerful people with deep pockets will never sustain the type of journalism Mother Jones exists to do. And advertising or profit-driven ownership groups will never make time-intensive, in-depth reporting viable.

That's why donations big and small make up 74 percent of our budget this year. There is no backup to keep us going, no alternate revenue source, no secret benefactor. If readers don’t donate, we won’t be here. It's that simple.

And if you can help us out with a donation right now, all online gifts will be matched thanks to an incredibly generous matching gift pledge.

payment methods

TIME IS RUNNING OUT!

We have an ambitious $350,000 online fundraising goal this month and it's truly crunch time: About 15 percent of our yearly online giving usually comes in during the final week of the year, and in "No Cute Headlines or Manipulative BS," we explain why we simply can't afford to come up short right now.

The bottom line: Corporations and powerful people with deep pockets will never sustain the type of journalism Mother Jones exists to do. And advertising or profit-driven ownership groups will never make time-intensive, in-depth reporting viable.

That's why donations big and small make up 74 percent of our budget this year. There is no backup to keep us going, no alternate revenue source, no secret benefactor. If readers don’t donate, we won’t be here. It's that simple.

And if you can help us out with a donation right now, all online gifts will be matched thanks to an incredibly generous matching gift pledge.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate