SEC Chair Gary Gensler faces a growing political problem: He has a shrinking number of allies in Washington.
Gensler’s regulatory push has triggered public threats of litigation from Wall Street executives and warnings from their friends in Congress. He’s even under pressure from long-time progressive allies who want to make sure he doesn’t compromise when it comes to cracking down on big business.
“Gary Gensler might as well bring a cot because he’s going to be spending a lot of time in front of the [House Financial Services Committee],” said Rep.Progressives and investor advocates eager for a Wall Street crackdown have spent a decade holding Gensler up as the model regulator.
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