SOMERVILLE, MA – Republican Scott Brown might be uncomfortable talking about his long history carrying Wall Street’s water and collecting their campaign contributions, but unfortunately for him, that doesn’t make it go away. It has been written – by independent newspapers in Massachusetts.
"Senator Scott Brown has trumpeted his role in casting the deciding vote in favor of the 2010 Wall Street overhaul, but records show that after he voted for the law, he worked to shield banks and other financial institutions from some of its tough provisions.
"E-mails between Brown’s legislative director and US Treasury Department officials show that Brown advocated for a loose interpretation of the law so that banks could more easily engage in high-risk investments."
"US Senator Scott Brown, who played a critical role in the battle over the 2010 financial regulatory overhaul, has used a joint fund-raising committee to collect $2.9 million in political donations over the last year, nearly half of which came from the nation’s financial sector.
"A Globe analysis of the money raised by this joint committee, which was launched without fanfare or publicity in March 2011, indicates that this sector’s deep reservoir of support for the Republican senator extends far beyond the contributions made to his campaign committee.
"Brown delivered for Wall Street in the battle over Dodd-Frank when he extracted a pro-industry concession from the Democratic majority: the elimination from the bill of a proposed $19 billion tax on banks, money which would have been used for part of the regulatory overhaul. He also championed a provision that curbed restrictions on certain investment activities by banks and insurance companies."