Lazio Attacks Cuomo on Economy? C'mon Rick
Statement From Steve Levy
Rick Lazio calling out Andrew Cuomo for his role in the collapse of the economy might be the most hypocritical thing I've heard throughout the entire campaign to date. While he's right in one regard - that as HUD Secretary, Andrew Cuomo promoted policies that increased mortgage default rates - Lazio neglects to mention that he is just as much to blame.
During Cuomo's time as HUD Secretary, Rick Lazio was chairman of the House subcommittee that had oversight of that agency. Lazio should have issued his press release ten or twelve years ago instead of ramming through legislation that many economists - including Nobel laureates - consider responsible for the collapse of the housing market and the worldwide recession.
Additionally, reports surfaced earlier this year that as chairman of Housing Subcommittee, Lazio pressured Cuomo to allow for more speculative mortgages.
The two worked in tandem, and if Cuomo lit the fuse for the economic meltdown, Rick Lazio rolled the powder keg into the room. Now they can fight over which one is more to blame, but until the results of their policies came to light, both were gleefully broadcasting their accomplishments on housing to anyone who would listen - occasionally even together on the radio (http://www.archive.org/details/TheCuomoAndLazioShow).
The fact is Lazio and Cuomo couldn't have done more damage to the economy if they had an intentionally, coordinated effort.
