Reed's Office: No Deal on Derivatives Reform

I made reference in this space, yesterday, to a report from Washington publication The Hill that had Senator Judd Gregg, Republican of New Hampshire, saying he "basically" had a deal with Senator Jack Reed, Democrat of Rhode Island, on derivatives reform - a key part of a larger financial overhaul hanging in the balance in DC. Both senators serve on the camber's banking committee.

But Reed's office is disputing Gregg's account. “There is no agreement, and I’d suspect any agreement would have to be part of a comprehensive agreement about moving the underlying bill forward,” says Reed's press secretary, Chip Unruh.

Still, there are signs of progress on financial reform, which Senate Republican Leader Mitch McConnell was pledging to block only a few days ago. A handful of key Republicans are now saying they expect a bi-partisan measure to pass. And Senator Chuck Grassley, an Iowa Republican, voted in the agriculture committee today for a separate derivatives reform bill.

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