Skyline Global Outsourcing Update

The Senate has begun debating proposals for the most significant reforms to financial regulations since the 1930s. After days of deadlock, Republicans and Democrats began arguing over a bill aimed at bringing accountability to Wall Street and avoiding another financial meltdown.

Republicans had blocked debate on the bill for three consecutive days, but eventually relented on Wednesday. But they also promised a hard fight to make changes to the reform bill. The key battlegrounds of the debates will be measures to restrict trades in complex financial instruments, called derivatives, and the powers proposed for a new agency to protect consumers. Despite agreeing to a debate, Republican Senator Richard Shelby, who led the blocking campaign, appeared in no mood to compromise on his opposition to the consumer protection agency.