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MoveOn to Democrats: Stand Strong; Reject a Bad Budget Deal

FOR IMMEDIATE RELEASE
December 10, 2014

WASHINGTON, DC — MoveOn Civic Action’s Executive Director, Anna Galland, called today on Democrats in Congress to reject the $1.1 trillion federal spending bill proposed yesterday, stating:

“This spending bill has been corrupted by Wall Street banks that are actively working to undermine rules that currently prevent them from wrecking the economy with speculative derivatives trades. Citigroup lobbyists reportedly wrote the part of the bill that would gut these important protections — which were put in place after the 2008 financial crisis. The legislation raises the risk of more taxpayer-funded bailouts for the big banks. It is unacceptable in its current form and must be defeated.

Americans saw what happens when financial institutions, deemed too-big-to-fail, gamble with funds backed by the government. Our families still carry the residual burden of taxpayer-funded bank bailouts.

Wall Street gave $25 million to Congress during the midterm elections. This bill proves that was money well spent. But Congress doesn’t answer to big banks like Citigroup, JP Morgan, and Bank of America. Congress answers to us, the American people. And it must deliver a clean spending bill without further delay.”