10 years ago next week marks the anniversary of the Bear Stearns bankruptcy and Fed bailout.
How fitting is it that next week the Senate is expected to vote to roll back many of the regulations put in place to prevent a repeat of the 2008 crash.

Meet the Senate Democrats’ #BailoutCaucus

These 12 Senate Dems are helping Trump dismantle Obama’s landmark law reining in big banks. pic.twitter.com/XWKQdF5q8d

— Rootstrikers (@rootstrikers) January 23, 2018

As the U.S. approaches the tenth anniversary of the 2008 financial meltdown, it faces a massive test of the post-crisis regulatory apparatus—thanks in no small part to Democrats in Congress.
A deregulatory bill, S.2155, introduced by Republican Senator Mike Crapo of Idaho, chairman of the Senate Banking Committee, proposes a major rollback of the 2010 Dodd-Frank Act. Dubbed The Economic Growth, Regulatory Relief, and Consumer Protection Act, it cruised through the committee in January.

Remember when Dodd-Frank was one of the two important legacy bills of Obama that Dems were going to defend? It didn't last long.
This bill is moving ahead in the House.

It's important to note that money has absolutely nothing to do with supporting this deregulation.

Nine of the twelve Democrats supporting the deregulatory measure count the financial industry as either their biggest or second-biggest donor, according to an analysis of Federal Election Commission data listed by The Center for Responsive Politics.

When questioned about this correlation, and whether it would aggravate concerns that the Democrats in support of this bill are being affected by industry money, a spokesperson for Senator Tim Kaine responded, “Campaign contributions do not influence Senator Kaine’s policy positions.
...Mark Warner, Kaine’s fellow senator from Virginia, is also co-sponsoring. “Campaign contributions have never influenced Senator Warner’s decision making on policy matters and never will,” his press office asserted in an email.

Dodd-Frank was weak tea regulation anyway. Removing even these weak regulations this late in the credit cycle is a recipe for disaster.