In their current form, derivatives are basically government insurance for banks where taxpayers pay the claims. And politicians like Gregg and Nelson are fighting to keep the crooked $600 trillion derivatives market unreformed.
With two-thirds of the nation supporting reform, any political party that throws in its lot with Wall Street will pay a major price come November. No amount of Wall Street campaign cash can counter voter outrage.
If there's one lesson we should have learned in the debate over gay service, it's that "don't ask, don't tell" was never about military effectiveness. It was a moral and political abuse of power, propped up by a ban on speaking truth to that power.