- He fought too hard to keep the big banks from having a 19 billion tax imposed on them to pay for the financial reform bill. Nineteen billion dollars is pocket change compared to the trillions of dollars these banks destroyed through their financial shenanigans, or the trillion dollars in bailouts they got through TARP and the Federal Reserve. And they certainly had money to spare: the big banks were recording record profits -- and record bonuses -- last year while this tax was being considered.
- While Warren was fighting like a tiger for the new Consumer Financial Reform Bureau, Brown was voting to weaken it through an amendment that would have significantly watered down its powers.
- Brown also voted to simply end the CFPB after four years. Did he really think big banks and credit card companies were going to stop exploiting consumers after four years?
- Brown voted in favor of an amendment that would have stripped the financial reform bill of measures to toughen regulation of the derivative market. Derivatives were those little things that took down the entire market in 2008, a financial instrument that Warren Buffett referred to as a "weapon of mass destruction." Brown apparently didn't think they needed any regulation at all, in spite of the massive damage they had just caused.
- Brown voted to kill the proposal to end one of the single most destructive practices in the history of the financial industry, so-called "naked credit default swaps," which have been described as "selling insurance policies against bonds they (the sellers) never actually owned."
And there is one other factor that makes him their most special friend of all time: he is the candidate against Elizabeth Warren, who they fear more than anyone. Warren has been as clear as a bell that she will stand up to them, she will fearlessly take them on in behalf of the middle class and the consumers. There is a reason Brown consistently rakes in so many millions of dollars from the financial industry, a reason Massachusetts voters will be seeing tens of millions of dollars in anonymous super-PAC money spent against her. If Warren makes it to the Senate, she will be the toughest cop on the Wall Street beat they have had to face in several decades, so they will be giving Scott Brown enormous love in the months it come -- he is truly their favorite of all time.