Sen. Grassley rejects GOP position, votes for derivatives overhaul

Democrats and Republicans moved closer to a compromise on legislation to restrict derivatives trading after Sen. Charles Grassley, R-Iowa, decided to support the measure. However, Grassley had a disclaimer. "My vote for this important reform of the derivatives market doesn't mean I'll be able to support the larger financial-reform bill on the Senate floor," he said. "The derivatives piece is significant, but that larger bill has a number of flaws that need to be resolved before I'd support it."

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