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The cuts Wall Street wants

Today, the Senate is scheduled to vote on competing budgets — one proposed by Republicans, one proposed by Democrats.

Among the numerous nonsensical cuts in the GOP budget are draconian cuts to federal agencies charged with preventing Wall Street from crashing our economy again.

Do they think Wall Street is going to regulate itself?

The cuts to the Consumer Financial Protection Bureau, Commodity Futures Trading Commission and the Securities and Exchange Commission will increase America’s vulnerability to another financial crisis and make the marketplace less safe for consumers.

Less regulation is just fine with Wall Street. As awful as this recession has been for most of us, 2010 was the best year ever for the banks, firms and hedge funds that gave $135 billion in record-breaking payouts.

Take a moment to send a message to your senators telling them they need to fully fund the agencies with the authority to crack down on Wall Street’s activities that bankrupt our states, our communities and small businesses. To send a message to your senators, follow the link below:


The most irresponsible response to these circumstances would be to cut critical public protections when they are needed the most.

Flickr photo by pamhule.