Mark Warner On Financial Reform

Friday, February 26, 2010

Mark Warner is working with Bob Corker (R-TN) "on a plan to overhaul financial regulations, strengthen bankruptcy provisions, and resolve resolution situations "towards receivership not conservatorship." This is an area Mark Warner knows a lot about, and I'm glad to see him working hard on it. For more background on the Warner/Corker approach, see here. One key area I'll be watching closely is whether progress is made on "the administration's proposal to create an independent agency to regulate all consumer loan products and prevent the kinds of abuses that led to the subprime mortgage debacle." So far, that seems to have been the stumbling block; we'll see if Senators Warner, Corker, Dodd et al. are able to reach an acceptable compromise.