Dodd Delivers Reform Bill Monday

Facing opposition from both sides, Senate Banking Chairman Chris Dodd will unveil his financial-reform bill Monday. And with Republicans asking for more time to consider it, Dodd is making a case for immediacy—he estimates there are only about 60 legislative days left on the calendar. He also said that major sections of the bill, particularly those regarding how to deal with too-big-to-fail financial firms without taxpayer money, were crafted with a consensus of committee members. The bill is expected to create a consumer-protection agency within the Federal Reserve, a far cry from Obama’s call for an independent agency and a measure bound to leave Democrats unsatisfied. According to a recent poll, 82 percent of Americans believe Wall Street needs to face tougher regulation.