Financial Reform Inches Closer

The Hill is hard at work on a Sunday. Although the Senate does not have a financial regulatory reform bill to show just yet, leaders on both sides were optimistic on Sunday. This week’s hopeful attitude is a change from last week and an indicator of potential momentum toward an agreement. "It might be later this week, it might be next week, but the main thing is to get a good bill," Richard Shelby (R-AL), the ranking member of the Banking Committee, said today on NBC's Meet the Press. Shelby and Senator Chris Dodd (D-CT), two of the major players in this process, made a rare joint appearance on the show which many think bodes well for the bill to move forward on Monday. Meanwhile, Senate Minority Leader Mitch McConnell (R-KY) struck a partisan note on Fox News Sunday, saying “We want to make sure that they don't have the same kind of approach on financial services that they did on health care,” and also said he didn’t think Republicans would allow debate on the bill to proceed on Monday.