...Senator Scott Brown, a Massachusetts Republican, said he was withholding support, citing $19 billion in new bank taxes inserted at the last minute. (click title to entry - thank you)
Just can't trust a playboy.
This guy is at least as bright as Ali Velshi who believes a 'local economy' is defined by BP franchises.
Hasn't anyone on Capital Hill explained the facts of life to 'surfer boy?'
When a Congressional body passes REFORM legislation to REGULATE an industry there has to be a way of paying for it. Perhaps, Brown has overlooked the fact that most of the banks that CAUSED the ECONOMIC CRASH of the USA in 2008 that has RESULTED IN HIGH UNEMPLOYMENT are turning profits in the double digit billions US.
...That would put Goldman's estimate of second quarter profits at the four at $756 million for Morgan Stanley, $2.3 billion for Bank of America, $2.9 billion for JPMorgan, and $1.5 billion for Citi....
It would seem as though Lover Boy can't come to grips with the problem of making Wall Street banks pay for the regualatory authority that will protect consumers. You know 'the small people.'
Scot Brown rather play 'footsie' with Wall Street Banks to INSURE exorbitant profits while there are high umemployment rates throughout the country.
See, Scottie doesn't seem to understand LEGISLATION TO REGULATE means that Wall Street Banks CAN'T pass on the taxes to consumers, they can't raise interest rates, they can't do any of those nasty things, but, they do have to pay for their own regulation because they are greed merchants and not ethical business people.
Of course, in some perverted Republican 'mindset' any tax turns into a cost to consumers and a slush fund for Democrats. It is the ONLY way they can operate their propaganda campaigns that deprive the American people of a FUNCTIONAL government.
...Brown’s ire over the levy on big banks and hedge funds, which he said would be passed on to consumers, highlighted the difficulties Democrats will face getting the compromise legislation passed in the Senate. Brown and several other Republicans provided crucial support for passage of an earlier Senate bill.
The $19 billion in new taxes would be imposed on large institutions over five years, and the money mostly would be used to pay for costs of increasing regulation over 10 years. It also would pay for $1 billion in federal bridge loans for unemployed homeowners facing foreclosure....
So, I am suppose to believe, as an average citizen, that a tax imposed on abusive Wall Street Banks practicing outside any understanding of an 'ethical business model' is going to cause me hardship, right?
Well, I suppose if I was delving into Hedge Funds and my costs went up that might be a concern, but, being that I may very well be an unemployed homeowner, suffering from the unethical standards of greed merchants, Brown might want to rethink his vote IN FAVOR of the legislation that is LONG overdue!
He needs to stop having his back scratched by unethical supporters and start actually acting like a legislator that cares about the citizen whom's credit score was RUINED due to the failed economy that we were all led to believe was a good economy for seven years under Bush/Cheney.
If anyone that is 'wthholding' their vote regarding Wall Street Reform actually believe they ARE NOT unethical, needs to think again.
"Who's your Daddy?"