ThinkProgress Logo

Election

NEWS FLASH

Santorum Backers Hit Romney With Anti-Gay Robo-Calls in Ohio | In the run-up to Super Tuesday, anti-gay backers of Presidential hopeful Rick Santorum began running robo-calls today attacking Mitt Romney’s position on LGBT issues and claiming he “supports open homosexuality in the military, the appointment of homosexual judges, and the ENDA law, making it illegal to fire a man who wears a dress and high heels to work, even if he’s your kid’s teacher.” One of the two speakers on the call, Brian Camenker, runs the hate group MassResistance, and has suggested that he can find a way to attribute to an increase in homelessness and crime rates to same-sex marriage. Romney has said that he would maintain the repeal of Don’t Ask, Don’t Tell, but strongly opposes marriage equality. The ad is paid for by JewsandChristiansTogether.org

Economy

Scott Brown Received More Than $900,000 From Financial Services Sector After Watering Down Wall Street Reform

Sen. Scott Brown (R-MA)

Sen. Scott Brown (R-MA)

Sen. Scott Brown (R-MA) received more than $880,000 in contributions from large-dollar individual campaign donors in the financial services sector in 2011, according to an Associated Press analysis. The freshman Republican also got at least $60,000 in contributions from corporate political action committees aligned with the financial sector.

Among the PAC contributors to Brown were:

  • American Bankers Association PAC: $2,000
  • American Financial Services Association PAC: $1,000
  • Citigroup Inc. PAC: $2,000
  • Credit Suisse Securities LLC PAC: $6,000
  • USAA PAC: $2,500
  • Wells Fargo and Company PAC: $3,000

  • Why the support? Well, it was Brown who threatened to join a Republican filibuster of the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010, using that threat to significantly water down the bill. Among the industry-favored concessions he extracted were removal of a $19 billion bank tax and weakening of the “Volcker rule,” restrictions on risky trades made with dollars backed by the government.

    “Sen. Brown’s politics are tailor made for New York Republicans,” Wayne Berman, a lobbyist for several financial sector companies observed last December. And if the financial sector’s donations are any example, New York Republicans certainly agree.

    Education

    Romney To College Student: If You Want Affordable College, ‘Shop Around’ Or Join The Military

    The amount of student loan debt held by Americans surpassed $1 trillion last year, as the average student debt load surpassed $25,000. The race for the Republican presidential nomination, however, has been largely absent of talk about higher education policy, particularly from front-runner Mitt Romney, who doesn’t list education as one of the topics on his campaign web site’s “Issues” page.

    At a town hall meeting in Ohio today, Romney was asked how he planned to help students better afford college. Instead of offering substantive policy solutions aimed at bringing down the cost of college, Romney told students that they should “shop around” for an affordable school or “think about serving the country” in order to get a free education:

    ROMNEY: The legislature in my state came together and said, ‘You know what, anyone that’s willing to serve in the National Guard, we’ll provide for tuition and fees for four years of college to make sure you get that start.’ So if you’re willing to serve, then we can be of more help. But my best advice is find a great institution of higher learning, find one that has the right price, and shop around. In America, this idea of competition, it works! [...] I want to make sure that every kid in this country that wants to go to college gets the chance to go to college. If you can’t afford it, scholarships are available, shop around for loans, make sure you go to a place that’s reasonably priced, and if you can, think about serving the country ’cause that’s a way to get all that education for free.

    While Romney tells students not to take on too much debt, he supports the expansion of for-profit colleges, which charge exorbitant prices that often leave students buried in debt without the education they need to get a job after their degree is finished (18 state attorneys general are investigating the practices of such institutions). Just last week, Romney announced his opposition to a recently-passed law that takes large banks out of the federal student loan process, saving the government millions of dollars that can be plowed back into student aid.

    Serving in the military, getting scholarships, or choosing more affordable schools are all ways to reduce the cost of college tuition, but the government plays a key role (and has a key interest) in providing financial aid and putting in place common sense regulations to ensure that students get a quality education for their money. It’s also worth noting that Romney has never served in the military, and the two universities from which he holds degrees — Brigham Young University and Harvard — are hardly “affordable” for the average college student.

    Update

    The Federal Reserve Bank of New York issued a report today saying student loan delinquencies could be even higher than already expected. According to the report, 14.4 percent of students with outstanding debt had at least one past-due payment, with the late payments totaling $85 billion. But according to researchers, that rate doesn’t take into account federally-guaranteed loans that don’t require immediate payments. Taking those loans into account would bring the delinquency rate to 27 percent.

    Switch to Mobile
    ThinkProgress Signup Overlay Skip and Continue to ThinkProgress Skip and Continue to ThinkProgress

    Sign Up