In his short but checkered career on Capitol Hill, Massachusetts Sen. Scott Brown (R-Wall Street) has Hoovered money from the financial services industry at a very impressive rate, according to the New York Times:
Mr. Brown, a freshman who harnessed populist Tea Party anger to win the seat once held by Edward M. Kennedy, has taken more money from the financial industry than almost any other senator: all told, more than $1 million during the last two years, according to data from the Center for Responsive Politics.
Of the 20 companies that accounted for the most campaign donations to Mr. Brown, about half were prominent investment or securities firms like Morgan Stanley, Fidelity Investments and Bain Capital. His donors include such blue-chip names as Gary Cohn, the president of Goldman Sachs, and the hedge fund kings John Paulson and Kenneth Griffin.
Mr. Brown, in turn, has been an important ally at critical moments, using his swing vote in the Senate to wring significant concessions out of Democrats on last year’sfinancial regulation bill, including helping strip out a proposed $19 billion bank tax and weakening a proposal to stop commercial banks from holding large interests in hedge funds and private equity funds.
Of course, every action on Capitol Hill has an equal and opposite re-adtion:
This week, a new union-backed independent expenditure group, Rethink PAC, unveiled ads casting Mr. Brown, the onetime Tea Party populist, as a hypocrite for his ties to Wall Street.
From the $150,000 online ad campaign, via the Huffington Post:
Equal and opposite re-adtion from Scott Brown presumably to come.