Senator Christopher Dodd caused upset this morning when he announced that he would push legislation of his own design in the financial overhaul. Dodd ended three weeks of discussion with Republican Senator Bob Corker on the matter. Corker said he was “disappointed” by this decision after first hearing about the decision this morning. Whether he will change his tune after hearing that Dodd’s legislation will include elements suggested by Corker remains to be seen.
Dodd declined to disclose those Republican proposals have been integrated into the proposal due for unveiling next week. Corker did disclose that after three weeks of talking, the two settled on language approving a consumer protection unit at the Federal Reserve.
At a conference in Washington, Dodd said: “The proposal that I’ll offer on Monday does reflect a lot of the ideas that Bob Corker and others have brought to the table. It was important to put a proposal on the table, short of a proposal that reflects some broad bipartisan agreement.”
Dodd’s plan will be presented without one vote of Republican support and open for amendment the week of March 22.
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