US financial reform to be debated after Republicans cave in

After three days of blocking tactics, the Republican minority in the US Senate Banking Committee agreed last night to allow discussion of a financial reform bill on the Senate floor. The full Senate unanimously agreed to start debate in a procedural vote yesterday evening.

Banking committee chairman Chris Dodd welcomed the news, saying: "It is time for this debate to begin." He criticised his opponent, the leader of the committee's Republican minority Richard Shelby, saying: "I cannot agree to

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