On the derivatives part of the bill, she said she expects that the broader financial proposal by Sen. Dodd slated to be unveiled on Monday will largely contain the language from a bill he first circulated last fall. That bill was considered to be much stricter than the one that passed in the U.S. House because the regulatory exemptions from clearing and trade execution were narrower.
The language that Senate Banking members Jack Reed (D., R.I.) and Judd Gregg (R., N.H.) have worked on for derivatives, meanwhile, will likely be contemplated when the Senate Banking Committee sits down to vote on a bill, she said.
Sommers also said she expects what Reed and Gregg will propose will be very different than the version of the derivatives bill that will be released soon by the Senate Agriculture Committee.
Unlike the Senate Banking Committee, though, Sommers said there is "a lot of agreement on issues" at the Senate Agriculture Committee.
"I think you will see a bi-partisan bill in the agriculture committee," she said.
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