Wall Street fouled up the whole country with crappy loans in terms nobody could understand, not even the SEC could fully comprehend it. And yet, not one of the CEO’s who committed fraud on the country and it’s people have been prosecuted. In 2010 the Obama Administration pushed the Dodd Frank Financial Reform Bill through Congress to clean up the mess and Republicans are gutting the bill.

The Republicans don’t want people to know they let Wall Street off the hook. They hide behind the budget which shows they are embarrassed, as well they should be. Not one person has gone to jail after massive fraud on Wall Street. In 2010 the Obama administration pushed through Congress the Dodd Frank financial reform bill, designed to put cops onto Wall Street fraud, but now the Republicans are quietly gutting the bill by crying “budget” They have taken away the funds to prosecute after the largest looting in the history of the United States. That is ridiculous. We put people in prison for much lesser crimes every day, than for stealing the country blind.

Wall Street mislead the people intentionally, even the Securities and Exchange Commission couldn’t make head or tales of their repackaged loans. When the loans couldn’t be repaid the whole economy went down the drain. Wall Street filled their pockets with hundreds of millions of dollars. And who picked up the tab? Why the American taxpayers, of course.

The Dodd Frank Bill wasn’t perfect by any means, but it did boost the power of SEC and CFTC to regulate trading and set up a new agency to protect consumers from the crooks peddling unsavory mortgages, outrageous credit card rates and payday cashing shops. Now the Republicans have stripped that money from the federal budget. Representative Barney Frank said, “Unlike health care or Environmental regulations, the Republicans didn’t try a frontal assault. They hid behind the budget.” and the damage is just as real. Maybe the Democrats can restore the funding and maybe not. Wall Street has some reliable Democratic defenders with high visibility. The fight will go on.

Elisabeth Warren is a Harvard Law Professor. She invented the idea of the Consumer Financial Protection Bureau and should be it’s first director. The banks are scared to death of her. “She speaks in clear simple sentences, and that terrifies them,” said Illinois Senator Dick Durbin. If she is appointed, which she should be, we can look for a clean sweep and a strong voice for the people.