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Welcome back everyone to US senate held another vote yesterday on whether to take financial reform legislation to floor to the floor for debate.
So is there a deal now well Republican senator Richard Shelby the ranking minority member of the Senate banking committee and he was instrumental.
In did behind -- closed door sessions with senator -- good morning -- senator Shelby.
Thank you good morning -- so it's a three times Republicans stuck together along with the Democrat Ben Nelson.
For the votes to not bring this to the -- -- yesterday you announced that there was an impasse in your negotiations with senator Dodd.
You could not agree on this consumer protection agency snap flu.
Do you think there's a better chance now that once this thing goes to the floor.
That will become bipartisan.
I think it would depend on the Democrats -- Republicans as we know coming together -- some very.
Big parts of the -- -- the consumer agency.
Andy Andy derivatives if we could do that.
And about -- way we'll get a good bill if we don't we'll be polarized and it will not be good for the economy our job growth.
In the future in this country.
So what you're negotiating with senator died what was it that made it apparent to you that you -- not gonna do it anywhere on those two issues with him.
Well he just said he couldn't move he couldn't well only only this to be.
Give credit here on the derivatives title that's something we would I believe we will work out on the floor but on the consumer agency -- he and a lot of these people were set in stone and we said we can't support the consumer agency lets you move it.
To where it's it's a lot more improved it will be better for the economy be better for it.
For the American people this is just a being -- too big -- reach.
And he said I can't do that now so I said well we might -- -- -- to the floor.
All right well I think the American people.
And she would agree with this want to see some sort of bipartisan measure -- the problem is Republicans only have 41 votes right.
You need six -- get any amendment passed.
At -- I think that's right but we could.
Ultimately in the debate moved toward.
A bipartisan vote a bipartisan bill to -- but that will depend on us both giving and taking.
Senator Dodd and I've made some I think some great strides in the too big to fail area.
I think we've.
I wouldn't say we close that we've we've come a long way.
But we've got a long way to go in the other the -- bill is so far reaching so complex.
Vast and scope.
It's gonna take some debate I think the American people ought to really look at every aspect of.
This -- -- 14100 pages long it takes a long time to read let me get your quick thoughts.
On these three symbolic senate seats that are up for grabs right now John -- Is calling them the trophy seats there in Illinois Obama's seat there in Delaware Biden seeds and -- Nevada -- -- -- how important would be for Republicans to capture the -- He'd be very important these three seats you know I'd like to see is captured and and that would put us back in the majority.
But we do it you know -- seated at time.
These are very crucial seats you have to win among the battlefield things look good -- right now I hope we'll keep working and we'll take him in November.
All right thanks senator Dick Shelby always great to talk with you and they continue to watch how this financial reform plays out now.
Once it hits the floor thank you senator.
People despised for.
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