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04-28-2010, 06:11 PM
WASHINGTON, April 28 (Reuters) - The U.S. Senate on Wednesday unanimously agreed to take up a sweeping financial reform bill, breaking a partisan logjam that had paralyzed the chamber for three days.
The Senate will begin debate on the bill at 12:15 p.m. (1615 GMT) on Thursday, Senate Majority Leader Harry Reid said.
"It's time to move this debate from the sidelines to the playing field," Reid said.
The two sides reached an agreement after Democrats threatened to hold an extraordinary all-night session to pressure Republicans after they had blocked action on the bill for three consecutive days.
With congressional elections set for November, lawmakers from both parties are keen to pass a bill.
Financial markets are watching how strongly the legislation will crack down on banking and dealing practices, and what that may mean for banks' capital and valuations.
(Reporting by Andy Sullivan (http://blogs.reuters.com/search/journalist.php?edition=us&n=andy.sullivan&); Editing by Eric Walsh (http://blogs.reuters.com/search/journalist.php?edition=us&n=eric.walsh&))
http://www.reuters.com/article/idUSN2821631420100428
The Senate will begin debate on the bill at 12:15 p.m. (1615 GMT) on Thursday, Senate Majority Leader Harry Reid said.
"It's time to move this debate from the sidelines to the playing field," Reid said.
The two sides reached an agreement after Democrats threatened to hold an extraordinary all-night session to pressure Republicans after they had blocked action on the bill for three consecutive days.
With congressional elections set for November, lawmakers from both parties are keen to pass a bill.
Financial markets are watching how strongly the legislation will crack down on banking and dealing practices, and what that may mean for banks' capital and valuations.
(Reporting by Andy Sullivan (http://blogs.reuters.com/search/journalist.php?edition=us&n=andy.sullivan&); Editing by Eric Walsh (http://blogs.reuters.com/search/journalist.php?edition=us&n=eric.walsh&))
http://www.reuters.com/article/idUSN2821631420100428