White House Derails Potential Bipartisan Deal On Wall Street Regulations

Bipartisan Deal Reached On “Derivatives Oversight”“Committee Chairman Blanche Lincoln (D-AR) And Ranking Member Saxby Chambliss (R-GA) Plan To Shepherd a Bipartisan Bill Through Their Committee” On “Derivatives Oversight.” (“Lawmakers Revisit Derivatives Regulation,” The Washington Post, 4/2/10)

White House Objected To The Bipartisan Agreement“White House Officials Have Raised Objections To A Potential Compromise Between Democrats And Republicans On The Senate Agriculture Committee Regarding Rules Governing Derivatives Trading, Senate Aides Said.” (“Hurdle Emerges To Financial Revamp,” The Wall Street Journal, 4/13/10)

“The Pressure From The White House And Treasury Department Could Complicate The Broader Congressional Effort To Rework Financial Regulation, As It Could Derail A Bipartisan Deal.” (“Hurdle Emerges To Financial Revamp,” The Wall Street Journal, 4/13/10)

Previously The Democrat Banking Chairman “Was Pressured By Others In His Party To Cut Off The Negotiations”“Corker, The Lead Republican Negotiator, Said He Felt That The Connecticut Democrat Was Pressured By Others In His Party To Cut Off The Negotiations.” (“Corker: Health Care Fight Shut Down Financial Talks,” National Journal, 3/11/10)

White House Says “We Are Not Going To Compromise” While Democrats Speculate That They “Would Be Better Off” Campaigning On The Issue Rather Than A Bipartisan Accomplishment“White House Spokesman Robert Gibbs Said ‘We Are Not Going To Compromise On What We Believe Represents A Very Strong Piece Of Legislation.’” (“Corker Says He Can't Back Financial Overhaul,” The Wall Street Journal, 3/30/10)

“Some Democrats… Argue That The White House Would Be Better Off — Politically, Anyway — If Democrats Could Hit The Campaign Trail In The Fall And Blame Wall Street-Friendly Republicans For Blocking The Reform Bill.” (“Dems Bristle At Financial Reform Deadline,” Politico, 4/5/10)

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Tags: compromise, bipartisan deal, democrats, republicans, Wall Street Regulators
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