With the death of Senator Robert Byrd (D-West Virginia) at 92 in the early hours of Monday, June 28, the longest serving senator in U.S. history, questions remain as to when a replacement will be named and whether his passing will complicate passage of the financial services reform bill.
Joseph Lieber with Washington Analysis, a Washington-based think tank, cautioned that there was "a possibility that [Congress] might have to wait until after the July 4th recess to get this [reform bill] done." First, he said, "they have to wait until Byrd's funeral for the Democratic governor to appoint a successor." Moreover, Lieber says, "Scott Brown [R-Massachusetts] is wavering in his support for the bill, and Sen. [Chuck] Grassley of Iowa is also voicing concerns." If Senators Russ Feingold (D-Wisconsin) and Maria Cantwell (D-Washington) are not convinced to switch their opposition to the reform bill, he continues, "there is also the possibility they could be forced to open up the conference to make changes."
Regan Lachapelle, a spokesperson for Senate Majority Leader Harry Reid's office, told Investment Advisor in an e-mail message that the Senate "will await action by the House, but it is still possible that we will consider the conference report this week."
