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Massachusetts Liberal

Observations on politics, the media and life in Massachusetts and beyond from the left side of the road.

Saturday, November 19, 2011

The bankers' seat

Wall Street appears ready for its next major acquisition: the Massachusetts U.S. Senate seat occupied by Scott Brown.

The New York Times points out the important role Sen. Barn Coat plays in the 2012 election strategy of the financial services industry:
“It’s not even about Scott Brown,” said one Wall Street executive, who asked for anonymity to discuss private discussions with his colleagues about the race. “It’s about: Do you want Elizabeth Warren in the Senate?”
Not exactly an overwhelming endorsement. But good enough to be on the receiving end of their financial largess.

As has been chronicled in this space, Brown has been amply rewarded for carrying the financial services industry's water on Capitol Hill. The Times estimates the haul at more than $1 million since his election.

While Brown may have occasionally strayed from the industry reservation during this time, the Wall Street movers and shakers are clearly fearful of the alternative, Elizabeth Warren, offering rhetoric that could heat the tents of Occupy protesters for the rest of the winter:
“We are working very hard for Scott,” said Anthony Scaramucci, the managing partner of Skybridge Capital and a major Wall Street fund-raiser. “Herman Cain is all about 9-9-9, Elizabeth is about 99-1-99. She thinks the 99 percent want to tax the 1 percent 99 percent. It is failed strategy.”
The People's Seat? Or Wall Street's Seat? Time will tell.

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