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…
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.
