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Chairman Burn asks Pat Toomey if he will Support Senate Leaders’ Plan to Repeal Wall Street Reform

Chairman Burn asks Pat Toomey if he will Support Senate Leaders’ Plan to Repeal Wall Street Reform

Harrisburg, PA – Today, Chairman Jim Burn held a conference call with reporters to ask Pat Toomey if he supports Senate leader John Cornyn’s (R-TX) plan to repeal Wall Street reform. Earlier today, Cornyn, the Chairman of the National Republican Senatorial Committee, told reporters that Senate Republicans planned to move on repealing Wall Street quickly if they took control of the Senate.

“It’s troubling that Republican leaders are going to make repealing Wall Street reform a top priority,” said Chairman Jim Burn. “Pat Toomey has a long history of fighting for Wall Street, not middle class families – from his time as a Wall Street derivatives trader to his work in Congress to deregulate Wall Street to his time as the President of the Wall Street-backed Club for Growth. Pennsylvanians know that Pat Toomey will fight for Wall Street, not them, but will he support repealing Wall Street reform?”

Republican Senate Leaders Plan to Repeal Wall Street Reform

“I think [we will introduce a bill to repeal health care and financial regulatory reform] pretty quickly,” said Cornyn. [Huffington Post, 9/30/10]

Pat Toomey has a Long History of Fighting for Wall Street, Not Pennsylvania

Former Wall Street derivatives trader Pat Toomey opposed Wall Street reform legislation that will hold banks accountable, make the financial system more open and transparent, and improve oversight for dangerous and risky derivatives trade. When Toomey was in Congress, he fought to deregulate Wall Street. He spoke on the House floor several times in support of legislation that would deregulate the derivatives industry and make it easier for Wall Street banks to make the types of risky trades that nearly broke our economy to the brink of collapse.

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