Paladino hits Cuomo on housing bubble--finally

HEMPSTEAD, NY - OCTOBER 18: Republican gubern...Image by Getty Images via @daylife
Reuters:

Carl Paladino, the Republican candidate for governor of New York, blames the U.S. housing bubble that triggered the global financial crisis on a single person -- his Democratic opponent, Andrew Cuomo.

"The housing bubble occurred because of one man -- that was Andrew Cuomo," Paladino told Reuters in an interview on Thursday.

Paladino linked the bubble to policies carried out by Cuomo when he was housing and urban development secretary during Democratic President Bill Clinton's second term from 1997 to 2001.

Paladino, a Buffalo real estate developer with support from the conservative Tea Party movement, faces Cuomo, the state attorney general and son of former Governor Mario Cuomo, in the November 2 election. Paladino, who won an upset victory in the Republican primary, trails Cuomo in most polls.

Paladino has livened up the New York governor's race with a series of colorful comments, including some he has apologized for or admitted were mistakes -- a trend that has coincided with his drop in opinion polls.

He held Cuomo individually responsible for the housing bubble by pressuring the Federal Housing Authority and housing finance giants Fannie Mae and Freddie Mac to promote greater home ownership by reducing mortgage standards.

That political goal, he said, was the main reason banks offered millions of mortgages to unqualified buyers, who later defaulted and left the financial system in tatters.

Cuomo's campaign did not immediately respond to calls and an e-mail seeking comment.

Paladino cited former U.S. Federal Reserve Chairman Alan Greenspan in his case against Cuomo.

"How did we get into this thing? We got into it by one man. And Alan Greenspan said it. The housing bubble started the subprime meltdown. How did the housing bubble occur? Andrew Cuomo, for his own self-interest, laid on FHA, Fannie Mae and Freddie Mac to lower their standards," Paladino said.

...
He should have been making this point for weeks rather than yelling at reporters. I don't know if it is too late to save his campaign, but he should be carrying this message everyday and if he can afford ads in New York he should be running them on this because it also goes to Cuomo's inability to clean up Albany. If Paladino can't afford ads he should put together some internet ads that would probably go viral pretty quickly.
Related articles
Enhanced by Zemanta

Comments

Post a Comment

Popular posts from this blog

Should Republicans go ahead and add Supreme Court Justices to head off Democrats

Washington Post: Some Democrats eye adding more justices to the Supreme Court to change its ideological bent The once-remote idea has gained the attention of liberals angered by the GOP push to remake the federal courts. Probably the easy way to defeat this court-packing scheme is for Trump to propose doing the same thing now.  It would lead to Democrat denunciations and claims that it would be wrong, thereby blowing up any attempt by them in the unfortunate event of Democrats winning a presidential election.
Read more

29 % of companies say they are unlikely to keep insurance after Obamacare

Conn Carroll: A new survey of 368 midsize to large companies found that 29% of them are considering terminating their active employee health care plans when Obamacare is full implemented in 2014. Only 71% of employers surveyed said they did not expect to drop their health coverage, while 20% said they did not know and 9% said they were planning to exit. The latest survey, conducted by Towers Watson, echoes an ealier survey by McKinsey & Co. finding that 30% of private-sector employers were planning to drop their employee health insurance coverage by 2014. When the Congressional Budget Office crunched Obamacare's spending numbers, they estimated that only 7% of employees currently covered by employer-sponsored plans would lose their plans. ... This means the cost of the health care fiasco will be hundreds of billions more than estimated by the CBO and Congressional Democrat. It is also clear that Obama's pledge that you could keep your health care plan if you wanted t
Read more

Bin Laden's concern about Zarqawi's remains

James Robbins: ... Bin Laden suggests that President Bush should allow Zarqawi’s body to be returned to his family in Jordan, but this is a matter that is up to the Jordanian government, which so far has not shown much interest in facilitating a homecoming. Bin Laden mocks King Abdullah II, calling him a Coalition minion, and asking “w hat scares you about Abu Musab after he’s dead? You know that his funeral, if allowed to happen, would be a huge funeral showing the extent of sympathy with the mujahedin.” A large crowd would definitely turn out, though most people would be on hand to demonstrate their anger and disgust. Last November’s hotel bombings in Amman , masterminded by Zarqawi, are still fresh in people’s memory, and mentioning them to Jordanians has the same visceral impact as memory of the 9/11 attacks does here. Jordan has adopted a zero-tolerance policy towards those who choose to mourn the country’s least favorite son, and four opposition members of parliament who paid con
Read more