Scott Brown to Give Speech on Over-Regulation of Hedge Funds at Hedge Fund-Sponsored Conference


If Scott Brown really is thinking of running for Senate in New Hampshire next year, he has an odd way of showing it. In May, the former Massachusetts Republican senator will travel to Las Vegas to give a topic at the SALT Conference, an annual confab put on by the hedge-fund giant Skybridge Capital. His topic: The consequences of over-regulating hedge funds.

SALT

Although Brown touted his crucial vote for the Dodd–Frank Wall Street reform law during his re-election campaign against Sen. Elizabeth Warren, he was widely credited with watering the financial-reform legislation at the behest of Wall Street interests. Among other things, Brown used his position as a tie-breaker to loosen the regulations on how much control banks could have over hedge funds, and to make it easier for them to use federal bailout funds to bail out failing hedge funds. (He brought in more than $3 million in campaign donations from the financial sector during his two campaigns.) Sure enough, in March Brown took a new gig at Nixon Peabody LLC, a law firm that services large Wall Street shops. As a release from the company explained at the time, “Brown will focus his practice on business and governmental affairs as they relate to the financial services industry.”

The trip to Vegas looks like a sign he’s focusing on the job he has now, not the job he might want later.

DOES IT FEEL LIKE POLITICS IS AT A BREAKING POINT?

Headshot of Editor in Chief of Mother Jones, Clara Jeffery

It sure feels that way to me, and here at Mother Jones, we’ve been thinking a lot about what journalism needs to do differently, and how we can have the biggest impact.

We kept coming back to one word: corruption. Democracy and the rule of law being undermined by those with wealth and power for their own gain. So we're launching an ambitious Mother Jones Corruption Project to do deep, time-intensive reporting on systemic corruption, and asking the MoJo community to help crowdfund it.

We aim to hire, build a team, and give them the time and space needed to understand how we got here and how we might get out. We want to dig into the forces and decisions that have allowed massive conflicts of interest, influence peddling, and win-at-all-costs politics to flourish.

It's unlike anything we've done, and we have seed funding to get started, but we're looking to raise $500,000 from readers by July when we'll be making key budgeting decisions—and the more resources we have by then, the deeper we can dig. If our plan sounds good to you, please help kickstart it with a tax-deductible donation today.

Thanks for reading—whether or not you can pitch in today, or ever, I'm glad you're with us.

Signed by Clara Jeffery

Clara Jeffery, Editor-in-Chief

payment methods

We Recommend

Latest