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In interview, Coakley hits Brown over bank bailout tax

January 15, 2010 12:52 PM

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Democrat Martha Coakley this morning blasted her Republican opponent for not supporting a bailout tax on the nation's largest banks as a way to recoup a portion of the taxpayer money spent on the bailout.

In what is likely to play a major theme in the final days of her campaign -- including when campaigning today with former president Bill Clinton -- she cast Republican Scott Brown as being beholden to big-bank chief executives who contributed to the economic collapse, rather than to average taxpayers and small businesses.

"While they decide whether bonuses should be six figures or seven figures, Main Street is still struggling," Coakley said this morning in an interview with the Globe. "Let's be clear: I stand with Main Street. ... It should be clear to voters that I stand with them, with taxpayers -- not with big CEOs looking to line their pockets."

She then focused on Brown.

"He would not stand with taxpayers trying to get our money back. ... He does not stand with the people of Massachusetts," Coakley said. "Wall Street is merrily on its way to decide on six or seven figure bonuses."

Brown, at a rally this morning with former mayor Rudy Giuliani of New York, said "anytime that there's a tax being imposed on businesses," it will be passed on to the consumer.

"With all due respect, that money is going to be transferred down to the individuals through ATM fees, increased fees," Brown said. "I thought banks were supposed to lend. So now they're going to take the money that they would be lending to the small businesses in this state and the men and women who want to buy homes ... and there's less of a pool there."

"There's only one candidate in this race who's a tax cutter," Brown added. "And it's not Martha Coakley."

On Thursday, President Obama unveiled a plan to tax banks $90 billion over the next 10 years. If it is approved by Congress, the tax would impact about 50 banks, insurance companies, and large brokers.

The US Senate race in Massachusetts -- once thought a shoo-in for Democrats -- has become much tighter than expected. A Suffolk University poll released last night had Brown ahead by 4 points, the first one to show him in the lead.

"We know it's a close race," Coakley said. "We understand with all of these polls, they're a snapshot, even if they're accurate. I'm up some, down in others."

"It's not surprising in some respects," Coakley added. "People haven't been paying as much attention; people complained in the primary that it was boring. It's not boring now."

Asked about President Obama coming to Massachusetts to campaign for her, Coakley said, "It may happen, it may not."

Matt Viser can be reached at maviser@globe.com.

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