Republicans Say Financial Reform Will Pass

Two top Republican Senators say Barack Obama’s bid to overhaul the financial regulatory system is sure to get through the upper chamber. “This is so unlike the health care debate,” Bob Corker told Politico, saying Republicans had made a “major strategic error” by refusing to negotiate a bipartisan deal before the bill left committee. “I don’t think people realize that this is an issue that almost every American wants to see passed.”

His comments drew a rebuke from Richard Shelby, the top Republican on the Banking Committee, who said chairman Chris Dodd would have to “deal with me as the top guy” to get a bipartisan deal. But he added, “We hope to be able to get back on the same page.” Shelby gathered committee Republicans in his office yesterday to discuss strategy. Afterward, one influential member, Judd Gregg, said he too saw the bill as destined to pass.