Brown’s threat gets bank tax removed
Finance bill’s funding reworked
WASHINGTON — Senator Scott Brown yesterday forced Democrats to remove a $19 billion tax on big banks and hedge funds from the proposed Wall Street regulatory overhaul, the second time the Massachusetts Republican has used his pivotal role in the Senate to influence the legislation in favor of major financial institutions.
After Brown threatened in writing yesterday to oppose the package unless the $19 billion tax was eliminated, House and Senate lawmakers reconvened late yesterday and agreed on a new way to pay for the additional regulatory oversight in the sweeping legislation, which is intended to help prevent another economic crisis like the 2008 market meltdown.
Wednesday, June 30, 2010
Kill Bill: "Bankster" Brown Throws Weight Around
No one could have predicted that Wall Street darling Scott "Bankster" Brown would singlehandedly kill a $19 billion bank tax. Except maybe Goldman-Sachs-slayer Martha Coakley, who, incidentally, is not in the Senate representing the people of Massachusetts.