Thursday, June 19, 2008

Garrett & Countrywide

Well, with the news breaking about the VIP program at Countrywide, I decided to check out if our Representative Scott Garrett was part of the brewing scandal.

Happily, I can report he is not. He has a small loan from a local bank, and that's it.

Unfortunately, as noted by the Center for Responsive Politics, he has received $5,000 from Countrywide's PAC.

Countrywide's largest competitors in the home loans category are no doubt Fannie Mae and Freddie Mac, two of Garrett's regular targets in his quest to eliminate the government.

It should be interesting to see if the Shulman campaign decides to make an issue of Garrett's opposition to the existence of the two, as well as voting against other housing programs that would benefit our District; while taking contributions from the one company who benefits most from his stances.

This is part of the reason I think public financing is so important. I have little doubt that Garrett really does want to eliminate the government, as he says often. However, due to political contributions it's easy for people to question whether it's motivated by his own beliefs or his campaign coffers.

3 comments:

Anonymous said...

Barack Obama received contributions from Countrywide as well. Until things fell apart in the mortgage market, to me Countrywide was just another mortgage broker. These politicians get contributions from all sorts of organizations and I have yet to see one politician reject them. My union dues go to support the democrat party, which I resent. I have yet to see my union support one republican candidate. I will not vote for any democrat and will not be voting for Dennis Schulman. My views are conservative/libertarian. It makes me sick that there will be a democrat congress with Barack Obama president. I have no choice but to support Scott Garrett.

rmfretz said...

Be fair. McCain received funds as well.

Anonymous said...

I am not a fan of Mc Cain. However, having Obama as the president with a democrat congress has me very afraid. Also, I look at the state of New Jersey and am very scared. The democrats have control of the state, but what have they done to fix our situation. Corzine has put together some proposals, but it seems like he cannot get the state legislature to agree to anything. This state is a fiscal nightmare. Just look at the state pension, which I think is unfunded to the tune of $28 billion.