You are hereCitizen Vox: The cuts Wall Street wants

Citizen Vox: The cuts Wall Street wants

March 9, 2011- 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.



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