How Failed Talks to Ease Banking Rules Could Actually Help Wall Street
- Crapo and Brown negotiations weren’t likely to aid big banks
- Breakdown might lead to compromise with moderate Democrats
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Negotiations to ease bank regulations between the top Republican and Democrat on the Senate committee that writes financial laws have broken down. Ironically, that could be good news for Wall Street.
Mike Crapo, the Republican chairman of the Senate Banking Committee, and Senator Sherrod Brown, an Ohio Democrat, have halted their bipartisan discussions over revising the Dodd-Frank Act. The lawmakers have been pursuing a compromise for months.