Right-—Rooty endorsed incumbent Dem Cuomo-—and the irony is the Republican won.
Congresswoman Gillibrand served as Special Counsel to Andrew Cuomo, Pres Clinton's appointee as Secy of HUD. Gillibrand played a key role in furthering HUDs Labor Initiative and *New Markets initiative (sub-prime mortgages); Gillibrand worked to strengthen the Davis-Bacon Act and drafting new markets legislation for public and private investment in building infrastructure to revitalize lower income areas across the nation."
"Sure, I know how I got the HUD job. Clinton needed my daddy in his corner,
so I got the HUD job. HUD is where I got the $18 million to run for Governor."
CUOMO AND BILL CLINTON CREATED CONDITIONS FOR MELTDOWN (Village Voice 8-5-08) Andrew Cuomo, the youngest Housing and Urban Development secretary in history, made a series of decisions between 1997 and 2001 that gave birth to the countrys current crisis. He took actions thatin combination with many other factorshelped plunge Fannie and Freddie into the sub-prime markets without putting in place the means to monitor their increasingly risky investments. He turned the Federal Housing Administration mortgage program into a sweetheart lender with sky-high loan ceilings and no money down, and he legalized what a federal judge has branded kickbacks to brokers that have fueled the sale of overpriced and unsupportable loans.
Three to four million families are now facing foreclosure, and Cuomo is one of the reasons why.......
STATEMENT FROM NY GOVERNOR DAVID A. PATERSON
Appoints Kirsten Gillibrand to Hillary's Senate seat
FOR IMMEDIATE RELEASE: January 23, 2009
EXCERPT " During the administration of President Clinton, Congresswoman Gillibrand served as Special Counsel to Andrew Cuomo, Pres Clinton's appointee as U.S. Secretary of Housing and Urban Development." B> "At HUD, Congresswoman Gillibrand played a key role in furthering HUDs Labor Initiative and *New Markets initiative, working to strengthen enforcement of the Davis-Bacon Act and drafting new markets legislation for public and private investment in building infrastructure to revitalize lower income areas across the nation." Following federal service, Congresswoman Gillibrand entered the private sector, joining one of the Countrys premier law firms.
READ MORE AT: http://www.state.ny.us/governor/press/press_0123091.html