Senator Mark Warner joined Senator Bob Corker on CNBC's "Squawk Box" to discuss their bipartisan efforts on the financial regulatory reform legislation in the Senate Banking Committee.

Several months ago, Banking Committee Chairman Chris Dodd asked Senators Warner and Corker to try to work-out a bipartisan agreement to prevent systemic risk, and to develop a process for resolving the complicated issues created by the imminent failure of a company that's deemed "too big to fail."  

On CNBC today, Senators Corker and Warner announced that they have "finished their homework" -- and both confirmed continued progress on the effort to reach bipartisan agreement on legislation that ultimately will fix a regulatory system that has largely failed the nation in recent years.

Things are moving along.  Senator Corker and I are both relatively new guys in the Senate and we had this weird sense that we were hired to actually get stuff done. That doesn't mean you sacrifice your principles, but that does mean if you can find common ground, that's a good place to build policy.