The teabaggers claimed Scott Brown as one of their first victories. So, what's he doing now that he's in the Senate? Aiding and abetting the lobbyists for Wall Street. Yes, as the conference committee on the Wall Street reform bill enters its final stages, the NY Times reports:
As Congress rushes this week to complete the most far-reaching financial reform plan in decades, the banking industry is mounting an 11th-hour end runAnd, who is doing the bidding of the bankers? Scott Brown:
The three main changes under consideration would be a carve-out to exclude asset management and insurance companies outright, an exemption that would allow banks to continue to invest in hedge funds and private equity firms, and a long delay that would give banks up to seven years to enact the changes.Why would Scott Brown be doing so much for the bankers? Because, they funded his campaign. Heavily funded him. That's the dirty little secret about Brown's campaign. He didn't win because the teabaggers liked him. He won because Wall Street bankers poured money into his campaign. And, now he's showing that he's a wholly owned subsidiary of Wall Street. $450,000 in six days:
In particular, the provisions, sought by Senator Scott Brown, Republican of Massachusetts, and several other lawmakers, would benefit Boston-based money management giants like Fidelity Investments and State Street Corporation.
But the biggest Wall Street firms would be helped as well. For example, JPMorgan Chase would be able to retain its Highbridge Capital Management unit, and Goldman Sachs could hold on to several large hedge funds, including its flagship Global Alpha franchise. Morgan Stanley could keep FrontPoint Partners and several other smaller hedge funds.
In a six-day span just before the US Senate election, Republican Scott Brown collected nearly $450,000 from donors who work at financial companies, a sign the industry is prepared to spend heavily in the upcoming midterm elections to beat back new controls and taxes President Obama wants to impose.They're getting their money's worth now as Brown tries to weaken the Wall Street reform bill.
The donations, from hundreds of financial executives, far exceeded what Brown received from doctors and others in the health care industry in the final days of the campaign.
I've posted this before, but it's still relevant. On January 19th, the day Brown won, I was listening to a Boston radio station and tweeted one of the things I heard:
Just heard on Boston's WBZ: "I voted for Scott Brown. I'm a banker. There isn't a banker alive who voted for Martha Coakley"That quote makes even more sense on June 21, 2010.
