Republican, Democrat Senate Negotiations Break Down

Washington, D.C.–Central Republican and Democratic Senate negotiators said that they have not been able to reach agreement on a plan to help fix the U.S. mortgage crisis, the Washington Post reported Tuesday.Aides to Senate Banking Committee Chairman Christopher J. Dodd, D-Conn., and the senior Republican on his committee, Richard C. Shelby, Ala., have been discussing a possible bipartisan plan for a month, but the conversation tapered off on Friday.Dodd announced a separate housing bill Monday to help homeowners exchange risky mortgages for affordable ones with federal government backing. A committee drafting session is scheduled for Thursday.However, Dodd’s bill isn’t likely to gain Senate approval without support from Shelby, the Post said.