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To: Smiling Bob who wrote (244750)	4/19/2010 9:57:54 AM
From: Smiling Bob	Respond to of 306849

The plan is to bark about Dems removing the cancer from the financial system, making the economy more stable ---- =DJ US Democrats Step Up Case For Financial Overhaul Bill . By Michael R. Crittenden Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--The Obama administration and top congressional Democrats will fan out on Monday in a multipronged offensive aimed at building support for financial-overhaul legislation days ahead of the Senate taking up the measure. Treasury Secretary Timothy Geithner plans to meet Monday afternoon with a key Republican moderate, Sen. Susan Collins of Maine, to make the case for the legislative package. That follows meetings between Geithner and Republican Sens. Scott Brown of Massachusetts, Orrin Hatch of Utah and Richard Lugar of Indiana last week. Meanwhile, two key Senate Democrats involved in negotiations over the new financial market oversight rules have scheduled a press conference as part of a broader communications offensive. Sen. Christopher Dodd (D., Conn.), who chairs the Senate Banking Committee, will appear with Sen. Mark Warner (D., Va.), on Monday morning. House Financial Services Chairman Barney Frank (D., Mass.) was also scheduled to hold a Monday press event, but it was postponed by his office. Democrats are eager to press what they see as an advantage in the wake of Congress's enactment of landmark health-care legislation. They hope to pass sweeping new rules for Wall Street by Memorial Day and Geithner, appearing Sunday on NBC's "Meet the Press," expressed optimism that Democrats would be able to overcome GOP opposition. "I am very confident that we're going to have the votes for a strong package of financial reforms that'll bring derivative markets out of the dark, help protect the taxpayers from having to fund future bailouts and trying to make sure we're getting Americans some basic protection against fraud and abuse," Geithner said. Senate Republicans over the last week have raised specific concerns about a $50 billion resolution fund to break up failing companies included in Dodd's version of the legislation. Proponents, including Federal Deposit Insurance Corp. Chairman Sheila Bair, have argued that the government should have the funds necessary--paid for by large financial institutions--to shut down a failing financial firm if necessary. Critics have countered that the mere existence of the fund could retain the belief in the financial markets that some firms are "too big to fail." -By Michael R. Crittenden, Dow Jones Newswires; 202-862-9273; michael.crittenden@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: djnewsplus.com. You can use this link on the day this article is published and the following day. (END) Dow Jones Newswires April 19, 2010 09:36 ET (13:36 GMT) Copyright (c) 2010 Dow Jones & Company, Inc.- - 09 36 AM EDT 04-19-10