Scott Brown: Fighting For Massachusetts

The Boston Globe has published story critical of Senator Scott Brown (R-MA) and his assertion that proposed financial overhaul bill would result in lost jobs in Massachusetts.

Senator Scott Brown’s use of as-yet-unsubstantiated industry estimates to predict the number of jobs that would be lost to greater financial regulation drew fire yesterday as partisan debate continued to heat up in the US Senate.

Brown said yesterday that his weekend prediction on national TV Sunday that tightening Wall Street rules would kill 25,000 to 35,000 jobs in Massachusetts was “based on my speaking with industry leaders’’ in recent weeks, but he did not cite any specific analysis.

That varied from an explanation offered by his representatives on Sunday, when his office said Brown was given the estimate by the chief executive of MassMutual, a large insurance company headquartered in Springfield.

MassMutual officials said Sunday, and again yesterday, that they did not give Brown any firm estimates of projected job losses in the Bay State.

The company said it warned of unspecified job losses in the future and provided him with estimates — dramatically inflated estimates, the company acknowledged yesterday — of jobs lost thus far in the current recession.

I’m not what the problem is. Estimates are exactly that: estimates. Based on information Senator Brown has, he gave an estimate of the number of lost jobs and has brought that issue to the forefront. Forget about the specific number of jobs lost…the real point is:  jobs will be lost.

The idea that the financial overhaul bill would cost jobs has not, until Brown’s weekend assertion, been part of the debate in Washington.

“No one has argued to us this is going to be cutting jobs as an overall in the economy,’’ said Representative Barney Frank, a Newton Democrat and chairman of the House Financial Services Committee, who authored the House version of the financial overhaul. “I have no idea where that figure came from. I don’t think anybody does. It may have just been spewed out by the Icelandic volcano with some of the other debris.’’

If Brown’s estimate on “Face the Nation’’ were true, the measure would eliminate up to 17 percent of the 207,000 jobs in the Bay State’s financial services sector.

“I stand by them,’’ Brown said in a brief interview yesterday in which he defended the remark. “And there will be larger numbers nationally.’’

Pressed to describe the source of his estimate, Brown said the figure was “based on my speaking with the industry leaders over the last month or so.’’

Brown aides last night also cited a study by the Business Roundtable — which largely opposes the current bill — estimating that a crackdown on a financial tool called over-the-counter derivatives would cause companies to be less profitable, resulting in 100,000 to 120,000 direct and indirect job cuts nationwide. The industry group did not provide any Massachusetts-specific figures.

Although MassMutual’s initial calculation put the number of financial sector jobs lost to date at 33,000, data compiled by the state’s Department of Labor and Workforce show there have been 18,700 jobs lost in all financial activities — including finance, insurance, and real estate — over the last three years.

There were 225,700 jobs in those categories in March 2007, and 207,000 as of last month.

The Boston Globe’s story is completely missing the point. As it stands today, this financial overhaul bill is will subject Massachusetts companies that didn’t take TARP funds, or contribute to financial meltdown, with huge fees and burdensome regulations, and will certainly cost the Commonwealth jobs. That is what Senator Scott Brown was saying on Sunday. Whether is 2,000 or 20,000, jobs lost in the Commonwealth is an end result we sent Scott Brown to Washington to prevent from happening. Thanks to him, now it’s being discussed.

Scott Brown is in Washington standing up for the interests Massachusetts. This bill, as currently written, would negatively impact the more than 200,000 Massachusetts employees. The financial services industry is important to the Massachusetts economy; and Scott Brown is fighting to keep those jobs. What more could we ask for?

Thank you, Senator Scott Brown, for doing exactly what we sent you to Washington to do.

Democratic Brown Nosing

Senator Scott Brown will be setting the tone for his term as Senator with his votes…like his upcoming vote on an employment bill.

Sen. Scott Brown – who campaigned on jobs creation – is facing the first tough test of his independence as Republicans and Democrats court his support for a critical employment bill slated to come up for a vote Monday.

Senate Majority Leader Harry Reid is challenging the rising GOP star to buck his own party and support the Democratic measure.

“The issue for Sen. Brown is the Republican leadership is prepared to vote against it for purely political reasons,” Reid’s spokesman, Jim Manley, told the Herald. “The question is whether Sen. Brown is going to vote with his constituents or vote the way the Republican leadership wants him to vote.”

The $15 billion proposal, pared down from $87 billion to woo Republicans, includes a payroll tax break for businesses that hire unemployed workers and a $1,000 tax credit to employers for every new worker retained for a year.

Reid called Brown earlier this week to ask for his vote, but Manley said the Bay State’s junior senator was noncommittal.

Republican leaders are watching Brown’s first votes closely. Senate Minority Leader Mitch McConnell, who has said he understands Brown will “be an independent voice,” is still determining Brown’s committee assignments, a key to his political clout.

Brown has not ruled out supporting the jobs bill.

“If it’s good for Massachusetts and will help get our economy back on track, it’s something he’ll vote for,” said Brown spokesman Colin Reed.

That, and that alone, should be the only criteria for Brown’s vote. Senator Harry Reid trying to convince him to break from the Republican Party’s stance on the bill for the sake of breaking from the Republican Party is not what being an “independent voice” is all about.

Scott Brown was elected to serve the People as our Senator, and represent the interests of the People of Massachusetts; not the interests of Senator Harry Reid and the Democrats. Let Scott Brown do what he was sent to Washington to do. If he decides this bill is garbage, then that is his decision–please, don’t try to suggest that any vote against the will of the Democrats is out of step with Scott Brown’s mantra that he will be an “independent voice.” Scott Brown’s promise to be an “independent voice” should be judged over the course of his term as Senator, not judged by a handful of votes before he finishes his first month as our Senator.

Romney Threatened While Leaving Vancouver

Governor Mitt Romney had to deal with a bit of an incident while returning from Vancouver.

Republican politician Mitt Romney was physically threatened by a violent passenger on an Air Canada flight leaving Vancouver this morning.

Mr. Romney, who has been in Vancouver since Friday for the Olympic Winter Games, did not respond to the attack. Instead, he allowed the airline crew to deal with the incident, according to his spokesman Eric Fehrnstrom.

Mr. Romney, 62, and his wife, Ann, were sitting in Row 15 of the economy section of the Embrarer 190 airplane, waiting for the plane to take off when the incident happened.

The man sitting in front of Mr. Romney’s wife dropped his seat back and when Mr. Romney asked him to move it upright for takeoff, the man became “physically violent.” Another report said that the man tried to strike Mr. Romney.

“Gov. Romney did not retaliate,” said Mr. Fehrnstrom.

Mr. Romney was not injured. The pilot returned to the gate and the passenger and his bags were removed by the RCMP.

Anyone notice that Mitt Romney was flying coach?

An Open Letter To The People of Massachusetts from Scott Brown

Dear Friend,

On Tuesday, we will have a choice in the special election for United States Senate. We can send another rubber stamp to Washington, or we can try something new: We can elect an independent voice for all of Massachusetts — and that’s the United States Senator I promise to be.

The choice we make will send a powerful message to the big spenders in Washington. They need to quit expanding our government and defending wasteful spending, and start expanding this economy and defending our jobs.

Some people say I don’t have all the advantages in this race, and that’s fine by me. Being the underdog has taught me to work harder, and to better appreciate the opportunities of our state and our country.

I’m running because I want to be a voice for people. I’m alarmed that our nation’s spending and debt has risen along with unemployment. I want to stop terrorists who are plotting to strike our country again. And while I believe every American deserves health insurance, I do not think we should plunge ahead with a healthcare bill that will raise taxes, increase spending and lower the quality of care. I’d like to see us start over and take our time to do it right.

These are just some of the challenges facing us. I can’t wait to roll up my sleeves and get to work. I hope you feel the same sense of urgency as I do. It’s far too important to sit out this election.

I want you to know that no matter what happens on Election Day, I consider myself a winner for having gone through this campaign. I was born and raised in Massachusetts, and I’ve lived here my entire life. But it wasn’t until now that I got a chance to fully appreciate the true spirit of the people of Massachusetts. They are the most patriotic, hard-working and optimistic people in the world. I have come away with a much deeper love and appreciation for them.

For all of that, and for the privilege of meeting with you in your neighborhoods, your homes, and where you work, I thank you.

Scott Brown

Brown Responds To Obama

Today, President Barack Obama mocked Scott Brown references to his personal truck at the rally for Martha Coakley, saying that “everybody can buy a truck.”

Scott Brown responded to Obama’s mockery with the following statement:

Mr. President, unfortunately in this economy, not everybody can buy a truck. My goal is to change that by cutting spending, lowering taxes and letting people keep more of their own money.

Maybe under Obama’s economic plan, everybody is getting a truck…