Corker on GOP FinReg Alternative: ‘I’m Not Sure What the Purpose of It Is’
Matt Corley at ThinkProgress picks up on a bizarre statement from Sen. Bob Corker (R-Tenn.) on financial regulatory reform. On CNBC this morning, Corker admitted that he is “not sure what the purpose of” the Republican alternative plan for financial regulatory reform is.
If written well and carefully considered, the Republican bill might have helped to define the parameters of reform, with the ultimate bill presumably falling between it and Sen. Chris Dodd’s (D-Conn.) bill. But the Republican alternative reform proposal just adopts the Dodd bill’s architecture. The two are so close, and with differences either so trivial or so glaring, as to give little insight into the concessions Democrats are in the final stages of making.