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EXHIBIT 23.1
Consent of Independent Registered Public Accounting Firm
We consent to the incorporation by reference in Registration Statement No. 333-123370 on Form S-8 of our report dated March 8, 2012, relating to our audit of the consolidated financial statements and the financial statement schedule, appearing in this Annual Report on Form 10-K of Paulson Capital Corp. for the years ended December 31, 2011 and 2010.
/S/ PETERSON SULLIVAN LLP
Seattle, Washington
March 8, 2012