Efforts to craft bipartisan financial reform legislation apparently have failed, with Sen. Christopher Dodd (D-Conn.) announcing he would unveil his own bill Monday. Disagreements over a proposed consumer protection agency reportedly caused talks to breakdown, but Sen. Bob Corker (R-Tenn.), who was working with Democrats on the measure, blamed the administration for pressing healthcare reform at this time. Corker said that he and Dodd, chairman of the Senate Banking Committee, had reached bipartisan agreement regarding rule-writing and enforcement functions of the proposed agency, but came to an impasse on derivative regulation and the amount of say shareholders should have in electing corporate officers. Without any Republican votes, the Dodd measure would fall short of the 60 needed to pass it.
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