How Senate Democrats rolled over and played dead for Wall Street

Their courage and conviction was so short-lived ...

Sen. Mike Crapo joins Republicans to back a financial deregulation bill.
(Image credit: AP Photo/J. Scott Applewhite)

A group of gutless Senate Democrats seem downright eager to grovel to Wall Street and help Republicans roll back financial reform.

In 2010, the Dodd-Frank Act imposed a slew of new regulations on Wall Street in an attempt to prevent a repeat of the disastrous 2008 financial crisis. The law was always imperfect — but its intentions were good, and many of its core elements (like the creation of the Consumer Financial Protection Bureau) have been solid. But now, a bill shepherded by Senate Banking Committee Chairman Mike Crapo (R-Idaho) aims to partially dismantle some of Dodd-Frank's safeguards.

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