GOP Senator On Financial Reform: 'Tone Down The Rhetoric' (VIDEO)

06/15/2010 05:12 am ET | Updated May 25, 2011
  • Huffington Post/AP

In an appearance on Good Morning America today, Sen. Bob Corker (R - Tenn.) said that the current financial reform bill that the GOP has issued strong objections to can be fixed "in a week's time" and that both parties should "tone down the rhetoric a little bit."

Last month, Corker was displeased with his fellow GOP members, whom, he said, missed a big opportunity to introduce amendments to the Democrat's financial reform bill before it was sent to the Senate floor.

Still, Corker was optimistic that a bipartisan agreement on financial reform can be reached quickly. Here's the AP on Corker's appearance:

WASHINGTON -- A Republican who has helped shape controversial legislation overhauling financial regulation says he's confident a bipartisan agreement can be found.

But Tennessee's Sen. Bob Corker tells ABC's "Good Morning America" that both parties must work together to solve problems with the bill. Senate Republican Leader Mitch McConnell of Kentucky has condemned it as perpetuating a system of bailouts for large, failing banks and investment houses.

Corker urged lawmakers to "tone down the rhetoric a little bit." He said there are "loopholes" in the Senate version that could be construed as making future bailouts more likely. But Corker also said, "My sense is, Republicans do want to see a regulatory bill of this type come to fruition."