Wall Street wasn’t wincing much when President Obama was re-elected and the Democrats held onto the Senate. They knew they were still ahead in the battle against tougher investor protection standards. Two of the biggest advocates for investor protection — Rep. Barney Frank and former SEC chair Mary Schapiro — are gone. Although Frank may fill in to temporarily replace Sen. John Kerry (D-Mass.) if he’s confirmed as the new Secretary of State, the two strongest proponents of Main Street safeguards are now footnotes in history. Read Forbes report here.
