The financial reform bill unveiled yesterday by Sen. Chris Dodd (D - Conn.) will likely be approved by the Senate Banking Committee, Reuters reports. Which isn't to say the bill will be untouched by lawmakers as it makes its way through the Senate.
"We caution the bill is currently without Republican support ... so we expect the bill to undergo significant changes over the next month," said Brian Gardner, an analyst at investment firm Keefe Bruyette & Woods. He expects the bill to be passed by the banking committee next week.
Dodd told MSNBC that Congress needs to fast-track reform, despite Republican pleas to slow down. He said Congress should not adjourn for a two-week recess on March 26 without acting.
Check out the entire piece at Reuters.