GOP on Finance Reform: Say It Ain't Snowe

We've seen this script before: Hoping to win Republican support for a controversial piece of legislation, Democrats assiduously woo Maine's swing Senators - only to get stiffed at the proverbial 11th hour.

But after meeting with Treasury Secretary Tim Geithner Monday afternoon, one half of the Maine option apparently is back in play.

While Susan Collins appears to be out - at least for now - Olympia  Snowe said she was optimistic that Democrats would modify their current bill to make it more palatable to moderate Republicans. She added that there wasn't "that much of a gap" between the sides.

"I encouraged [Geithner] on the issue of bipartisanship and he was optimistic on that issue. I don't think it will be impossible, but as I urged the Secretary today, it is vital we ensure that the broad strokes of a bipartisan agreement are reached prior to debate on the Senate floor. We need to address the proposed consumer protection bureau and the best way to avoid another taxpayer-funded bailout, among other things. I also shared my deep concern that we push the vast derivative trading market onto transparent exchanges and we eliminate any chance that taxpayers money will be used to support misplaced bets.

A bi-partisan charade or an expression of serious intent to cross party lines? Left wing Dems still nurse bruised feelings incurred during the health care reform battle. That's when Democrats thought they had won Snowe's support and they remain convinced she played them.  But considering Wall Street's plunging public popularity, it might be easier for Snowe to trade her vote in return for winning a compromise that Democrats can still live with.

That's assuming, of course, she can hold out against Mitch McConnell and his posse. Deja vu all over again, as the immortal Yogi Berra was reputed to have put it? We'll see.