Today, Senate Majority PAC is launching a new ad in Pennsylvania focusing on Pat Toomey’s Wall Street agenda. In Washington, Toomey, a former Wall Street banker who also once had a stake in a bank, has repeatedly sided with Wall Street and voted to re-write the rules to help bankers like himself.
“It’s no surprise that a former Wall Street banker like Pat Toomey has been working for Wall Street, not Pennsylvania families,” said Peggy Yang, spokeswoman for Senate Majority PAC. “If Toomey had his way, Wall Street would have free rein to continue the risky practices that crashed our economy.”
Toomey has repeatedly voted to repeal all or part of the Dodd-Frank Wall Street Reform Act. In addition, Toomey introduced legislation that would gut a rule protecting local governments from deceptively marketed municipal rate swaps. These swaps principally benefited greedy Wall Street banks, when during the economic downturn, Pennsylvania school districts had to pay millions to Wall Street to get out from under these deals.