Financial executives spent big on Brown

[kpete]

Source: Boston Globe

Financial executives spent big on Brown
May be precursor to midterm elections; Obama’s proposed regulations key issue
By Casey Ross
Globe Staff / February 1, 2010

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 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. While Brown saw donations from all quarters explode in mid-January, as polls showed him closing fast on opponent Martha Coakley, the donations from financial workers coincided with several key developments that would affect their companies.

On Jan. 14, five days before the Senate election, President Obama proposed a fee on large financial firms to recoup the cost of the government’s bailout of the industry, and he angrily demanded that those firms cut executive bonuses.

The president was also pushing the Senate to follow the House of Representatives and adopt sweeping changes that would impose controls on the trading of exotic securities, limit risk-taking by the largest institutions, and create an agency to protect consumers from abusive lending practices.

Read more: http://www.boston.com/business/articles/2010/02/01/late_in_senate_race_financial_sector_donations_swelled_browns_coffers/

[SpiralHawk]

1. "Yay for us." - Corporate Republicon Overlords

"Too bad, and shit like that, about you proles who live in the United Corporations of America. Why don't you just sit down and STFU. Sneer."

- Corporate Republicon Overlords

[yava]

9. you can lose in Boston no matter who you are facing and no matter the money

if you say something agaist the Red Sox fans.
Anyone could have told her that but Obama prefers basketball and the Cubs.

[No Elephants]

11. She said something about Red Sox fans? All I heard was that she said

Schilling was a Yankee fan and otherwise seemed to have no clue who he was.

(Don't blame me. I voted for Capuano in the primary.)

[FarCenter]

2. Not surprising, there are several very large financial firms in Boston

People donate to candidates sympathetic to their interests.

[The Stranger]

3. Meanwhile, Coakley went on vacation.

[No Elephants]

10. After her concession on the night of the election, someone from her campaign was asked about that.

The woman said Coakley was not on vacation. She was out of money, so she was fundraising. I have no idea what is true and what isn't, but, if she didn't call the DNC or the DNC did not help on request, something is terribly, terribly wrong with one of them.

Or, she did go on vacation. I have no clue. Just reporting what her supporter said five minutes after the concession.

[Ozymanithrax]

4. I pledge allegiance to the flag of the United Corporations of America...

And to the profits for which they stand.
One Nation, under corporate rule, un-mergered.
With Liberty and Justice sold to the highest bidder.

[Joanne98]

5. Financial executives spent big on Brown

Source: Boston Globe


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 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. While Brown saw donations from all quarters explode in mid-January, as polls showed him closing fast on opponent Martha Coakley, the donations from financial workers coincided with several key developments that would affect their companies.

On Jan. 14, five days before the Senate election, President Obama proposed a fee on large financial firms to recoup the cost of the government’s bailout of the industry, and he angrily demanded that those firms cut executive bonuses.

The president was also pushing the Senate to follow the House of Representatives and adopt sweeping changes that would impose controls on the trading of exotic securities, limit risk-taking by the largest institutions, and create an agency to protect consumers from abusive lending practices.



Read more: http://www.boston.com/business/articles/2010/02/01/late_in_senate_race_financial_sector_donations_swelled_browns_coffers/

[avaistheone1]

6. Financial executives spent big on Obama during his election.

Really BIG. What does that tell you?

[hay rick]

7. Everybody likes a dollar or two.

The financial industry is able to buy both sides. Geithner would be exhibit A for the real state of the Obama administration vis-a-vis the titans of Wall Street.

[gratuitous]

8. From grassroots to Bermuda Grass roots

Seems like Mr. Brown needed that pickup truck just to haul the swag from his overrich finance sector fatcat pals.

[No Elephants]

12. Meh. Health insurers spent big on Coakley--and Brown used that in his campaign.