(CBS) While saying that President Obama has politicized the debate over financial reform, Sen. Scott Brown, R-Mass., said today on CBS' "Face the Nation" that he is opposed to the Democrats' proposed legislation to overhaul America's banking system and would filibuster if it came to a vote.
Host Bob Schieffer noted that each day seems to bring more outrage about Wall Street banking practices, yet minority leader Sen. Mitch McConnell (R-Ky.) has come out against financial reforms that Democrats want to bring to the Senate floor, claiming it will enable future taxpayer-funded bailouts of banks. President Obama called McConnell's assertion about bailouts the exact opposite of what the bill would allow, and characterized the Republican leader's comments as "cynical and deceptive."
Brown told Schieffer that he disagreed with Mr. Obama's position, and stands with McConnell.
"I think the president's political arm is now taking over this debate," said Brown. "It's unfortunate because I, like many others in my state and throughout the country, want banks to be banks. I don't want them to be casinos and take risky bets on our money. I think that this is an issue that we can clearly come to common ground on and just solve the problem."
Brown suggested that the financial reform bill in its current form would hurt Massachusetts. He specifically referenced Liberty Mutual and Mass Mutual as companies that would be adversely affected, claiming that the bill would lose the country 25,000 to 35,000 jobs.
Schieffer asked how Brown could make that claim. - CBS News Story
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