A new report shows that while President Obama is trying to appease his liberal base by going after Wall Street, he faces opposition from members of his own party. The report is sure to sting Patrick Murphy, who continues to desperately try to run to the left in order to blunt the constant attacks from Alan Grayson in their bitter and divisive primary battle.
The Obama administration’s efforts to rein in Wall Street face opposition from members of the president’s own party…The discrepancy between Democrats’ rhetoric and their actions could be crucial as Congress moves to close out the year with a flurry of bills designed to undermine regulation of the financial sector.
To make matters worse for the Congressman that Grayson has called an “errand boy for Wall Street,” the report singles Murphy out as the lone Democrat who tried to block the Obama administration from issuing new regulations stemming from Dodd-Frank:
In 2013, Murphy was the only co-sponsor of a bill to block the Labor Department from issuing its fiduciary rule…The next month, he joined Scott and Sinema in co-sponsoring the legislation to prevent the CFPB from barring discrimination by auto lenders.
What could possibly lead Murphy to stand as one of the only Democrats opposed to Obama’s anti-Wall Street crusade? The report offers one idea:
Murphy has raised over $2 million from the financial industry since 2012.
In a Democrat primary that’s already brutal and guaranteed to get even worse, Murphy can’t seem to hide from Alan Grayson’s verbal assaults. Now he’s been singled out as one of the only Democrats to turn his back on one of his liberal base’s top priorities. With nine months left in his bloody primary battle with Grayson, Murphy and his loyal supporters at the DSCC are in for an ugly ride.