Senators Close To Deal On Financial Reform: WSJ

Wallace Witkowski
MarketWatch Pulse

SAN FRANCISCO — Sens. Christopher Dodd, D-Conn., and Richard Shelby, R-Ala., are close to an agreement to give the federal government the power to unwind failed financial firms that threaten to destabilize the economy, The Wall Street Journal reported Wednesday on its Web site, citing people familiar with the matter. Dodd reportedly made a concession by dropping a requirement for a $50 billion fund to pay for a firm’s liquidation.

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