Brown voting for financial reform bill: The Swamp
The Swamp
Chicago Tribune
Posted July 12, 2010 1:00 PM
scottbrown.jpg

The Swamp

by Michael Muskal

Massachusetts Sen. Scott Brown said on Monday that he will support the financial regulation overhaul, becoming one of the Republicans needed to moved one of the Obama administration's key pieces of legislation into law.

Brown had announced that he would oppose the compromise bill that had been negotiated by the House and Senate, but shifted his support after bargainers went back to the table and restructured about $19 billion in payments that was opposed by banks in Brown's state. A final Senate vote could come this week.

"I appreciate the efforts to improve the bill, especially the removal of the $19-billion bank tax. As a result, it is a better bill than it was when this whole process started. While it isn't perfect, I expect to support the bill when it comes up for a vote," Brown said in a prepared statement.

Brown joined Sen. Susan Collins of Maine as two crucial Republican votes for the legislation.

Democrats need 60 votes to prevent a GOP filibuster. Even with Brown and Collins, the vote is expected to be close. The death of Sen. Robert Byrd (D-W.Va.) has costs the Democrats a sure yes vote, and at least two Democrats have said they were unhappy with the final form of the bill, though at least one said she is likely to vote for it.

More over at D.C. Now.

Photo Credit: AP / Drew Angerer

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Comments

Surprise! Surprise! The T.Bagger Senator from Massachusetts, the pin-up model, Scott Brown, is supporting, what can laughingly be called, Financial Reform Bill. What it amounts to, is another Bank Bailout, and a T.Bagger Senator is supporting a bailout!! That is why I hope President Obama vetoes this non- financial reform bill, if it arrives on his desk.
SUPPORT OUR TROOPS, BRING THEM HOME, ALIVE AND WHOLE. NOW.


Bwahahahahahaha, keep poking the TEABaggers eyes Sen. Brown. I love it. They think they own you but you represent the ideas that are for the best interests of your state. Not a rogue group of bitter, old people.


Brown knows he can't always vote like the rest of the Tax Cuts For The Rich/ Wall Street Loving/ Fear-mongering Repugs or he'll lose his Senate seat faster than he got it.


Ma isn't Alabama..



PFUTZ,

You are correct (mark the day and time) "What it (Financial Reform Bill) amounts to, is another Bank Bailout, and a T.Bagger Senator is supporting a bailout!!"

Amazing that all democrats but one (Feingold) are supporting the Bank Bailout also. So just who is the political party of Wall Street?


So a republican says he is going to support one of Obimbos plans and Dim Wit Donny whines and complains about it. When they don't support one of the many ill conceived plans from this administration, Dim Wit Donny whines and complains about it. True to his looney liberal mentality he can never be satisfied or get enough.

Janet - it sounds like you are the old bitter one.


So the famous naked Senator can think for himself? Since Steele took credit for getting him into office, I wonder if he is sorry about that now. He didn't get an obstructionist like the rest of them. Wonder if he'll get any SarahPAC money after this?


TWENTY BILLION DOLLAR BANKER MAN SPEAKS! Who's your Lender? Who's your Lender? The GOP! THE GOP! What we say go! Stall baby Stall! Who's your LENDER? The GOP! The GOP "Filibuster" unto you! He's black! He's a "socialist." I'm the REAL ID! Sarah is the EVE IN EEVS! I'm drinking the TEA! Who's your BANKER! It was always about "Home Ownership Alliance." It was always about "civil rights." Who's your LENDER! Who's your "SERVICE PROVIDER?" It's not a Economic GOP Opportunity! It's not the GOP BORDER BEAT! A Mortgage! A Mortgage! Who's your BANKER! Validate! RESPA! What! No vote for you! Just more GOP Theft by Deception! Drink TEA! Let's PARTAY!


Why has the Swamp failed to provide any information about the diversity overseers? This seems like a racist piece of legislation.

"financial regulations package recently passed by the House of Representatives would create a new diversity overseer at each of the major federal financial regulatory agencies, including the new ones created by the legislation itself.

This new office, called the Office of Minority and Women Inclusion, would take over from any existing diversity or civil rights office already working at the agencies in question.

It would also be responsible for making sure that each of the major federal financial regulators is hiring enough minorities and women, and contracting with enough minority-owned and women-owned businesses.

However, each individual diversity czar is responsible for defining exactly how many minorities, women, and minority- and women-owned businesses are satisfactory."

Read more: http://www.newsbusters.org/#ixzz0tXWUFv4G


This IS NOT FROM ME! - Probably from the racist HHH

"Brown knows he can't always vote like the rest of the Tax Cuts For The Rich/ Wall Street Loving/ Fear-mongering Repugs or he'll lose his Senate seat faster than he got it.


Ma isn't Alabama..


Posted by: Steve Lobber | July 12, 2010 3:44 PM "

Please remove this fake comment!


I don't care what party you are backing, but this bill should not
be passed until it includes a revamping of Fannie Mae and Freddie Mac. After all most of our problems originated with these two government run agencies.


Typical idiot from Massechusetts. More damage being done by the democrats and RINO's. Brown just lost
any political capital he had.
More racist legislation from the great incompetent and his corrupt buddies. It's no wonder the latest poll shows the majority of the country doesn't think much of obama. The only financial reform needed is to reverst the last "reform" under Clinton that helped create this mess. Put the Glas Stegal Act and interstate banking laws back into place.


* * * * *
Posted by: Paul | July 13, 2010 11:26 AM
.
Really? The financial crisis was caused by the housing bubble. The housing bubble was caused by the overextension of credit to too many un-creditworthy home buyers. That’s because too little money to pay outstanding debts destroys the asset value of a debt. Are you with me so far?
.
So, one then has to ask: Where did all the money came from that allowed all those banks and financial institutions to make all those bad loans - be they “liar loans,” “John Doe loans,” or what-have-you? Next question: What institution had the oversight and regulatory power to stop these bad lending practices (if it had not been asleep at the wheel)? Third question: Which institution’s inflationary monetary policies spawned the overextension of credit that caused the Great Depression? The answer to all three questions is the same: The Federal Reserve Bank.
.
And you know what else? The FRB is entirely unaccountable for its monetary policies. Furthermore, this wonderful financial reform bill does nothing to make the FRB’s activities transparent, accountable to or answerable to the government or the public. Until someone finds a way to counter this dangerous institution, we will always be at risk of yet another financial meltdown, Fannie and Freddie or no Fannie and Freddie.


Nothing new here. Scott Brown is a RINO like most of the elected Republicans in MA. He sold his vote for $19 Billion break for mega banks in MA. No Freddie, Fannie reform in this bill, and the bill is sponsored and written by the very people (Frank and Dodd) who where the major players who were asleep at the switch, that allowed the the 'crisis' in the first place. That alone should have been reason to vote against this 'reform' bill.

Thanks Scott, for NOTHING.


They used to say that all Senators look in the bathroom mirror every morning and see a future President.

I surmise Sen. Brown wants to e re-elected.


Which is why he's voting for the reform bill.


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