Tuesday, June 29, 2010

Scott Brown, Wall Street Darling

Special interests?

You betcha!

Why would Wall Street throw money at Goldman-Sachs-slayer Martha Coakley, when they could throw their ill-gotten gains at Scotty Brown?

From Media Matters on Scott "Heckuva Job, Brownie!" Brown.

In the final days of Scott Brown's tough campaign against Massachusetts Attorney General Martha Coakley, every cent counted. With polls so close, it was clear that the election would likely come down to which campaign was able to spend the most money and run the most ads during the last stretch.

Thanks to Wall Street, Scott Brown won.

As the Boston Globe reported: "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."

The Globe interviewed Richard Hillman, an analyst for First Wilshire Securities, who decided to give $2,400 to Brown at the last minute because, "I thought making him the 41st Republican vote in the Senate would prevent some really terrible legislation from getting through."

Hillman (along with hundreds of other Wall Street donors) seems to be getting his money's worth. After receiving more than $390,000 from Wall Street, Brown is now doing the industry's bidding in the Senate by threatening to kill Wall Street Reform.

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