This Time, Schumer Doesn't Side With Wall Street

Pending more details, Chuck Schumer is supporting the Obama administration's proposals to provide greater oversight of the derivatives, credit-default swaps, and other complicated financial instruments that helped cause the present economic crisis. "We need to regulate derivatives and Obama's outline is strong and sensible and I look forward to seeing the details," Schumer said in a statement sent to The Observer. It might seem to be a no-brainer for a Democratic Senator to support his party leader's actions against one of the most unpopular industries in America. But given Schumer's close relationship with and advocacy for Wall Street, which has been