Dylan Ratigan: Wall Street and the Supercommittee - The $41 Million Question

Liz Ryan Murray is the Policy Director for National People’s Action. Adam Smith is the Communications Director at Public Campaign. This is their first guest post for our ongoing DylanRatigan.com series “Get Money Out.”
The Financial Crisis Inquiry Commission reported earlier this year that Wall Street was able to get away with its unscrupulous practices for so long, in part, because of the power it had over Washington, D.C. lawmakers and regulators.

In the years leading up to the country’s economic collapse, Wall Street threw money at elected officials in order to weaken financial industry regulations. Wall Street greed fueled a downward cycle of corruption, leading our country into a tailspin that forced millions of Americans out of work while lawmakers where unable or unwilling to rein in their campaigns’ underwriters.

The Joint Committee on Deficit Reduction now faces similar pressure from these interests to leave them and their companies undertaxed. Wall Street interests have millions of dollars in campaign contributions and an army of lobbyists on their side, according to a new report from our organizations, Public Campaign and National People’s Action...

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