Scott Brown Sells Out

National Legal & Policy Center ^ | July 15, 2010 | Peter Flaherty

[jazusamo]

On the evening of Scott Brown’s election, I wrote that among the reasons for his victory was resentment of “a host of actions to prop up Wall Street firms at the expense of taxpayers.”

Who would have thought that less than six months later Brown would cast the decisive vote in favor of legislation that institutionalizes Wall Street bailouts, and whose sponsors — Christopher Dodd and Barney Frank — played key roles in bringing on the meltdown, not to mention representing everything that is sleazy and corrupt about Washington. If Brown wasn’t running against Barney Frank when he railed against the “machine,” then what was he talking about?

I can only assume that even though Brown knew how to ride the wave that swept him into office, he now fails to understand it. He seems to have reverted to the traditional strategy of “moderate” Republicans in Massachusetts, which is to make common cause with liberal establishment and then somehow claim to be “independent.” The financial regulatory “reform” bill is an odd opportunity to pursue such an outmoded strategy.

Brown did not bring people out to foot-stomping rallies in the final days of his campaign because he offered a fresh, new brand of William Weld Republicanism. Instead, he successfully got on the right side of the elitist/populist divide. With the possible exception of the monstrous spending and debt, nothing feeds this division more than the Wall Street bailouts. Votes in favor of TARP have become an unexpected (to incumbents) flashpoint of anger in primary elections all over the country and have ended a score of political careers.

The elitist/populist divide transcends political party. TARP and the auto bailouts were initiated by a Republican administration. Although Brown was considered a “moderate” in the Massachusetts legislature, it really didn’t matter. His election represented a primal scream by ordinary people who recognized that they were getting screwed by the professional political class, which in Massachusetts is even more entrenched than elsewhere. Brown has allied himself with these corrupt elites.

Judd Gregg, another New England Republican Senator who talks a good game about fiscal responsibility, on Tuesday claimed, “TARP did what it was supposed to do.” Oh really? In October 2008, then-Treasury Secretary Henry Paulson told Congress that if it did not pass the 3-page TARP bill to buy toxic assets from banks, the entire financial system would collapse.

But then Paulson turned around and used the money to buy preferred stock in banks to bolster their balance sheets. Not one cent was spent to purchase toxic assets. If getting the toxic securities off the bank balance sheets was the absolute key to avoiding total catastrophe, TARP was unnecessary because no such purchases were ever made. In fact, a lot of this junk is still right where it was in October of 2008.

If Congress knew that the money would be used for other purposes, TARP would have never passed. When Obama came into office he could scarcely believe his good fortune. Tight-fisted Republicans like Gregg left him hundreds of billions to spend on things like bailing out the United Auto Workers. Gregg has the good sense not to run for re-election, and thereby avoid all the pesky TARP questions. Scott Brown is up again in two years.

Related:

Scott Brown Victory Is Reaction to Obama's Corruption of Democracy

House Passes Financial Services Bill; Mandates Racial Favoritism

Dodd's Financial Services 'Reform' Would Mean More Bailouts

[Responsibility2nd]

Scott Brown Sells Out

 

[jessduntno]

%^&*^ Scott Brown.

[timetostand]

Scott Brown makes McCain look like a radical right winger!!

[Undocumented_capitalist]

Who knew Scott Brown was supposed to follow blind folded every GOP agenda! Same GOP who initiated TARP, Prescriptions paid by tax payers, no reforms to stabilize social security & medicare when they had power. I could go on but you get my point.

[whitedog57]

I hope Scott Brown suffers greatly for this. He won’t of course. Its all part of the middle class eradication, just like Stalinism. Scott decided to be in the elite class.

[johnthebaptistmoore]

I want to know why Peter Flaherty isn’t running for ‘10 Massachusetts AG, because many Massachusetts voters hoped that he would.

[Jim Robinson]

Effen RINOs will screw you in the end every time!

Never vote for a RINO!!

Rebellion is brewing!!

[Psalm 144]

I take your point. Rockefeller Republicans still dominate GOP policy. That a New England Republican would be of that mold is no marvel.

[Gay State Conservative]

With a New England Republican the best you can do is hope that they'd be at least a bit better than his/her RAT opponent.The greater the difference the better the result.In our lifetimes we'll *never* see a Republican from New England who'll vote 100% with Republican leadership.

I can assure you all that Marsha Coakley would have been with RAT leadership in *every single vote*.

[liberateUS]

Who knew Scott Brown would blindly follow all of the socialist democrat agenda, even though he ran as a republican! Who knew!

[Sybeck1]

Time for him to get some teabags in the mail!!!

[Para-Ord.45]

Brown is such a complete idiot.

Did he read the Bill?

Did he read the part that , “ makes it easier for unions, environmental groups and other activist organizations that hold shares to put their representatives on the boards of directors of every corporation in the United States.” !?

Did he read the part, “ favors Democratic constituencies directly by requiring banks and federal agencies to hire and do more business with them.” !?

Did he read the part where, “ The powerful new consumer protection agency that is the centerpiece of the reform bill also would provide substantial employment opportunities and funding for Democratic and social-activist groups such as the Association of Community Organizers for Reform Now (ACORN)” !?

[jessduntno]

Curse us for backing these people. It must stop. I now worry about the impact on the Tea Party by the “what’s the use” factor...

[jazusamo]

If you read the article there was a little said about TARP.

Do you post like this about Snowe, Collins and McShame also?

Screw RINO’s.

[Spartan79]

I suspected this would be what we would see from Brown, even though I pulled out the checkbook and wrote a small donation to his campaign back in January. He’s likely in the long run to prove better than Coakley would have been, but only marginally so. I would support a constitutional amendment to make all of New England into one state, so we would only have to put up with two insufferable libs or RINO’s from the area. As it is, we let that rotten appendage of the country have twelve senators. Not one of them is worth a damn, Republican or Democrat.

[Kimberly GG]

So much for the ‘tea party candidate’! The left will get the last laugh on this one!

[Kimberly GG]

So much for the ‘tea party candidate’! The left will get the last laugh on this one!

[YHAOS]

Why is anyone shocked at Brown’s behavior? Is it any more surprising than the behavior of Collins and Snowe? Because Conservative are Republican, it does not follow that Republicans will always be conservative. Never turn your back on a RINO.

[freekitty]

Brown’s facebook is filled with the same kind of statements.

Liar, Fraud, Sell Out.