Senate, Financial Regulation | featured news

The Senate named 12 senators, including tough Wall Street critics and more moderate members, Tuesday to a panel that will finalize the most sweeping overhaul of financial regulations since the 1930s.

Senate Republicans, attacked for twice blocking legislation to rein in Wall Street, floated a partial alternative proposal Tuesday and said it could lead to election-year compromise on an issue that commands strong public support....

Top Republicans appeared nearer to a deal with Democrats on a financial regulation bill, with the ranking senator on the banking committee saying that they were “very close” on the key particulars.

Senate leaders on Tuesday began their sparring over the financial reform bill, setting the tone for what is expected to weeks of debate on lawmakers' next pitched battle.

Sen. Christopher J. Dodd indicated that Democrats would forge ahead with their own bill, following months of talks that had been aimed at reaching a bipartisan consensus.