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After Watering Down Financial Reform, Ex-Senator Scott Brown Joins Goldman Sachs’ Lobbying Firm

By Josh Israel  

"After Watering Down Financial Reform, Ex-Senator Scott Brown Joins Goldman Sachs’ Lobbying Firm"

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Former Sen. Scott Brown (R-MA)

Former Sen. Scott Brown (R-MA)

During his nearly three years in the U.S. Senate, Scott Brown (R-MA) frequently came to the aid of the financial sector — watering down the Dodd-Frank bill and working to weaken it after its passage — and accepted hundreds of thousands of dollars in campaign cash from the industry. Now, the man Forbes Magazine called one of “Wall Street’s Favorite Congressmen” will use those connections as counsel for Nixon Peabody, an international law and lobbying firm.

The Boston Globe noted Monday that while Brown himself will not be a lobbyist — Senators may not lobby their former colleagues for the first two years after leaving office, under the Honest Leadership and Open Government Act of 2007 — “he will be leaning heavily on his Washington contacts to drum up business for the firm.” The position will also allow him “to begin cashing in on his contacts with the financial services industry, which he helped oversee in the Senate.”

Among the lobbying clients represented by Nixon Peabody is Goldman Sachs, the Wall Street behemoth that reportedly skirted the Dodd-Frank rules . Brown received $10,000 in PAC contributions from Goldman and more than $100,000 in contributions from its employees.

Brown was also the deciding vote against the DISCLOSE Act, which would have allowed voters to see which moneyed interests were funding secret political ads. The U.S. Chamber of Commerce, which reportedly received millions from Goldman Sachs, led the opposition to the bill.

Last month, Brown joined Fox News Channel as a contributor. In his first appearance in that capacity, he lamented that Congress is “dysfunctional and extremely partisan,” and promised to “stay involved” by being “part of the election process back home and other elections throughout the country.”

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