Shelby: No deal on financial overhaul before vote

[April 26, 2010]  WASHINGTON (AP) -- The lead Republican in negotiations with Democratic Sen. Christopher Dodd on financial overhaul legislation says no agreement is likely before a key Senate floor vote Monday afternoon.

Sen. Richard Shelby said "I don't believe we'll have a deal today," although he also noted that the two sides had set a meeting for early afternoon.

The Alabama Republican predicted on ABC's "Good Morning America" that a measure ultimately will be passed because both Republicans and Democrats understand the agitation among voters for something to be done about high-risk business practices.

Shelby said he wants a measure that's going to "put to bed forever the idea" of taxpayer-funded bailouts in circumstances where a financial institution is failing.

[Associated Press]

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.