Sen. Paul S. Sarbanes, ranking minority member on the Banking Committee, said the Senate will probably pass a bankruptcy bill today or Wednesday. But the Maryland Democrat said he expects a "fairly difficult conference with the House," which passed its own version on June 10. Congress is scheduled to adjourn Oct. 9.
Sen. Sarbanes was equally pessimistic about financial reform legislation. "Whether it will go through in this Congress remains to be seen," he said. But he called the version recently approved by Senate Banking "a responsible effort to allow companies within the financial service sector ... to affiliate with one another."