Senate Avoids Nuclear Option in Obama Nominee Deal

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July 16 (Bloomberg) -- Bloomberg chief Washington correspondent Peter Cook reports on Senate leaders reaching a compromise on confirmation votes for seven of Barack Obama's presidential nominees. He speaks on Bloomberg Television's "Market Makers."

It sounds as though the senate may have averted the nuclear option.

We just heard majority leader harry reid say on the floor that we may have a way forward to deal with this big fight over nominations.

They're still dotting the "i's" and crossing the "t's" in dealing with the president picks for his administration.

The caucus lunch is today.

He credited senator john mccain with brokering this compromise.

We do not have all the details as to what concessions democrats have made.

It may be the consumer protection bureau or the national labor relations board.

But there is a deal apparently in the works.

All but said and done, according to harry reid.

They have to run it past their respective caucuses, but it does look like a showdown for the moment has been averted.

This text has been automatically generated. It may not be 100% accurate.

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