–Senate Majority Leader Reid Formally Sets 5 PM Test Vote
–Sen. Reid: Republicans ‘Playing Games’ To Delay Regulatory Reform
–Sen. Reid: Must End ‘Kabuki Dance’ on Regulatory Reform
–Senate Minority Leader McConnell: Still Wants Bipartisan Deal
–Sen. McConnell: Should ‘Take The Time To Do it Right’

By John Shaw

WASHINGTON (MNI) – In a brief, spirited exchange on the Senate
floor Thursday afternoon, Senate Majority Leader Harry Reid blasted
Republicans for “playing games” to block financial regulatory reform
while Senate Minority Leader Mitch McConnell said that additional talks
could yield a bipartisan agreement.

After a parliamentary skirmish, Reid set up a 5 p.m. ET vote Monday
evening to formally begin Senate debate on financial regulatory reform

To move to this legislation, Reid must secure 60 votes.

Reid said that he will wait no longer for a bipartisan agreement,
saying that he has been forced to go through a “kabuki dance” for months
in which Republicans have delayed action on the bill.

“I’m only asking permission to go to the bill,” Reid said.

“We are going to move forward with this piece of legislation … .
We are going to have a vote Monday, Reid said.

McConnell said Reid was rushing the legislative process, adding
that it makes sense to wait longer for a bipartisan agreement.

“It is still my hope we’ll be able to go forward on a bipartisan
basis,” McConnell said.

“I don’t think bipartisanship is a waste of time,” he added.

He said the Senate should “take the time to do it right.”

Speaking after Reid and McConnell, Senate Banking Committee
Chairman Chris Dodd said that beginning the debate on the Senate floor
would help accelerate resolution of outstanding issues.

He said a Senate debate will serve a critical role to narrow
differences and forge compromises.

“Let’s get to the debate,” Dodd said, adding that he will continue
to work with Sen. Richard Shelby, the ranking Republican on the panel,
between now and Monday.

“It can’t actually occur until we actually do it,” he said.

Shelby, speaking last, said he and Dodd have many “common” goals,
including ending bailouts, ending Too Big To Fail, and crafting a good
regulatory regime for derivatives.

“We’re continuing to negotiate in good faith,” he said.

“The main goal is to do it right,” Shelby said.

** Market News International Washington Bureau: (202) 371-2121 **

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