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April 20th, 2010
11:49 AM ET

Wall Street reform: Senate showdown set

Jennifer Liberto
Sr. Writer, CNN Money

[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2010/images/04/16/t1.wallst.jpg]

With SEC charges against Goldman Sachs in the background, Democrats plan to start debating the Wall Street reform bill in the Senate this week, even as Republicans continue to say they oppose the bill.

"Our bill ends too big to fail, bailouts end forever," said Sen. Chris Dodd, D-Conn., in a Monday press conference held to drum up momentum for the bill. "Our bill holds Wall Street accountable, mandates real transparency, so that large banks can't gamble our money in the shadows of the financial system."

But, in a letter to Senate Democrats on Friday, 41 Senate Republicans said they "are united" in opposing the current bill that passed the Banking Committee last month, according to a letter penned by Senate Minority Leader Mitch McConnell, R-Ky.

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