Sherrod Brown is calling on his fellow Senators, Democrats and Republicans alike, to take a stand on a simple question: Should Senators be allowed to own stock in companies whose bottom lines are directly affected by their votes?
Senator Brown tells me he is introducing a measure in the Senate today that would require all Senators to divest themselves of any stocks in companies that are impacted by their actions as a Senator. The idea is that members of Congress — who are suffering historically low approval ratings while enjoying historically high levels of personal wealth — have some work to do in building confidence that the institution is representing the public interest, rather than the interests of the wealthy and well-connected, some of whom are, well, them.
“Members of the House and Senate should not be voting on issues that affect their financial investments,” Brown told me. “We have the privilege of holding these jobs.There should be no perception that...
- WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) – ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs – is demanding that government-sponsored enterprises (GSE’s) Fannie Mae and Freddie Mac, provide data on private equity-owned manufactured housing communities (MHC).
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- WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) – ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs – delivered the following opening statement at today’s hearing nominations to the Department of Treasury, the Department of Housing and Urban Development, and the Export-Import Bank.
- WASHINGTON, D.C. – U.S. Sen. Sherrod Brown (D-OH), Ranking Member of the Senate Banking, Housing and Urban Affairs Committee delivered the following remarks at a hearing to markup S. 2877, the “Terrorism Risk Insurance Program Reauthorization Act of 2019.”
- the Department of Housing and Urban Development (HUD) rescind the promotion of Eric Blankenstein to Executive Vice President at the Government National Mortgage Association (Ginnie Mae). In a letter to HUD Secretary Ben Carson, the Senators cited Blankenstein’s racist and sexist remarks, and the previous Inspector General investigation into Blankenstein’s conduct and treatment of his subordinates at the Consumer Financial Protection Bureau (CFPB).
- WASHINGTON, D.C. – U.S. Sen. Sherrod Brown (D-OH), Ranking Member of the Senate Banking, Housing and Urban Affairs Committee blasted the Federal Reserve and FDIC for approving the merger BB&T and SunTrust Bank. The merger is the largest since the financial crisis, sending a signal that the agencies are open for business for further consolidation of the largest banks.
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