The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}

Since Scott Brown left the Senate, he has joined Nixon Peabody — a law firm that lobbies on behalf of big banks. He’s also become a contributor to Fox News — a “news” channel that lobbies on behalf of big banks. And in his spare time, he’s toyed with moving to New Hampshire — where he has a vacation home valued at around half a million dollars — to find a Senate seat he actually has a chance of winning.

This doesn’t leave him much time to drive around in his famous pickup truck.

But he was able to squeeze in a speaking engagement at the SALT Conference, brought to you by your friends at the hedge fund Skybridge Capital. There he’ll be speaking on one of his favorite topics: The consequences of over-regulating hedge funds.

If there’s one thing Scott Brown has never been guilty of, it’s over-regulation.

As he ran for re-election, Brown often touted his vote in favor of the financial reform known as Dodd-Frank. But he never mentioned that his chief accomplishment was watering it down by adding language written by — how’d you guess? — big banks. He also singlehandedly blocked a $19 billion fee on the nation’s largest financial institutions.

And because he was so effective in saving them $19 billion and preventing “over-regulation” or even any regulation that might eliminate the chances of a repeat of 2008’s financial crisis, Scott Brown will be a very rich man for the rest of his life –thanks to the big banks. A small price to pay to stay “too big to fail/jail.”

The woman who defeated Scott Brown, of course, is Elizabeth Warren — one of the first people who tried to warn the nation about the impending debt crisis, and the tenacious advocate for the middle class who created the Consumer Financial Protection Bureau.

Since Senator Warren took office and her seat on the banking committee, she has been relentless in doing the one thing the big banks fear — holding them and their regulators accountable. Instead of doing their bidding, she’s wondering why banks aren’t shut down when they get caught abetting drug trafficking, or why they get to decide for themselves which homeowners they illegally foreclosed on.

Senator Warren has also been willing to criticize her own party and her old boss President Obama when he proposes policies — like “Chained CPI” for Social Security — that she thinks hurt the middle class.

When the Occupy Wall Street movement began in 2011, many credited Warren with awakening Americans to the continued exploitation perpetrated by the big banks and the richest 1 percent, which has led to massive wealth inequality. In a way, her service in Washington, DC has been a continuation and maturation of that movement. She’s inside the system and scaring the crap out of bankers and regulators every day.

Meanwhile Scott Brown — who represented the 1 percent — is enjoying the spoils of doing Wall Street’s dirty deeds… dirt cheap.

Senator Elizabeth Warren’s greatest hits follow below.

521898_511831602186862_1775468466_n

On The Minimum Wage

On The Banks’ Money Laundering

Questioning Fed Chairman Ben Bernanke About ‘Too Big To Fail’ Banks

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Terry McAuliffe

Reprinted with permission from PressRun

Sticking close to the media's preferred script, Axios this week reported that the walls were caving in on Democrat Terry McAuliffe, who's caught in a surprisingly close race in Virginia's governor's race. "It was clear the McAuliffe campaign has taken on an air of tension — bordering on panic," Axios announced.

Keep reading... Show less

Reprinted with permission from Alternet

After 2020's election, Virginia adopted more pro-voter legislation than any state, from expanding access to starting to amend its constitution to enshrine voting rights. But these reforms have not been enough to turn out voters in this fall's statewide elections, where the top-of-the-ticket Democratic and Republican candidates for governor are close in polls but seen as underwhelming.

Keep reading... Show less
x
{{ post.roar_specific_data.api_data.analytics }}