2009, The Washington Post WASHINGTON -- The private seminars usually take place on Tuesdays or Thursdays. The classroom often is a first-floor meeting room in the Capitol. The students are U.S. senators -- sometimes a handful, sometimes more -- and a collection of their staff members. The sessions unfold away from the C-SPAN cameras and politically charged public hearings, and the lawmakers listen more than they speak, trying to understand some of the most complicated issues facing Congress as it tries to overhaul the nation's financial regulatory system. The tutors have included a high-profile cast of current and former regulators, academics and financial gurus, such as Federal Reserve Chairman Ben Bernanke and his predecessor, Alan Greenspan; Wall Street super-lawyer Rodgin Cohen; and Sheila Bair, chairman of the Federal Deposit Insurance Corp. The sessions, which began in March and have continued ever since, are the product of two freshman senators, Bob Corker, R-Tenn. and Mark Warner, D-Va., whose burgeoning partnership could help shape the legislation that ultimately emerges from Congress. They are outranked by nearly everyone on the Senate Banking Committee, particularly Christopher Dodd, D-Conn., and ranking member Richard Shelby, R-Ala., whose views are likely to dominate the committee's version of legislation. But by joining forces, Corker and Warner -- the former Chattanooga mayor and the former Virginia governor, both successful businessmen -- have positioned themselves to exert influence beyond their junior rank as the Senate tackles regulatory reform in the coming months. 'Clearly, this debate is going to be dominated by Dodd and Shelby. But a lot of people are going to listen to what Corker and Warner have to say,' said Sen. Judd Gregg, R-N.H., a fellow member of the banking committee who has attended several of the seminars. Gregg said his two colleagues' financial backgrounds have helped them understand the current issues 'because they dealt with them in the real world, something a lot of people haven't done. As a result, I think they have tremendous credibility on these issues. I don't think the amount of years they've been in the Senate is relevant at all.' Already, Warner and Corker have crafted legislation that would give the FDIC wider authority to wind down failing financial firms, a step toward ridding the country of 'too big to fail' institutions. They also have sponsored a bill aiming to liquidate the government's stake in such bailed-out companies as General Motors, Citigroup and American International Group. This proposal would also require that independent trustees be named to manage the public stake in any company that is more than 20 percent owned by the government. In drafting bills and holding periodic seminars, colleagues say, the duo has tried to bypass the partisan rancor afflicting so many issues on Capitol Hill and produce meaningful changes in the regulation of financial markets. 'Boy, oh, boy, the public would have a right to be even angrier if you had some other kind of major meltdown because we hadn't put new rules of the road in place,' Warner said. 'There is no Democrat or Republican approach here. This is more about how do you get it right. There are a lot of folks on the other side who I think bring a reasonable approach.' Corker echoes that philosophy. 'There shouldn't be anything really partisan about reg reform,' Corker said. 'The fact is, this is an arcane and very specialized area.' Warner and Corker's alliance on regulatory reform makes sense in many ways. Both men pride themselves on being moderates in their parties. Both men made themselves into millionaires in the business world -- Warner in telecommunications, Corker in real estate development. Both were chief executives before joining the lowest ranks of the Senate hierarchy, and that background, coupled with their freshman status, has intensified each man's desire to create tangible results. 'They're both very, very good. They bring a wealth of experience to the committee,' Dodd said. 'I welcome their involvement.' 