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Old 09-11-2010, 09:36 AM   #1
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Rick Lazio - just another Republican asshole


Mr. Lazio is pushing ahead with the strategy, even breaking what has been, until now, something of an unwritten rule of politics in New York: never to use images of Sept. 11 in campaign advertisements.

Why Rick Lazio wants to debate mosques, not money - Joe Conason - Salon.com

Recent polls strongly suggest that Lazio's hysterics haven’t done much to salvage his sinking candidacy; if anything, he seems to be losing ground in the Republican primary to a Tea Party challenger whose rhetoric is even more extreme. But Lazio is doubling down on demagoguery, with an awful television ad reviving the pain and fear of 9/11.

Following his humiliating defeat by Clinton, the former Long Island congressman became a very well compensated lobbyist for the financial services industry before joining JP Morgan Chase as a lobbyist and then a banker -- not necessarily the most popular professions for someone hoping to return to public service. He got those jobs owing to his political connections, and then used those same connections to bring hundreds of millions of dollars in government-connected investments to the bank.

People's Champion? Rick Lazio Is a Wall Street Creature - Page 1 - News - New York - Village Voice

It doesn't take much digging through the archive to find that Lewis Ranieri was Rick Lazio's finance chair for the race against Clinton; the campaign bragged about it then.

News clippings say Ranieri raised millions for Lazio "from contractors, developers, real estate brokers, mortgage lenders and bankers around the country." Ranieri was "credited with revamping the home-loan business in America" in those heady days.

Now Ranieri is on Time magazine's list of the 25 people to blame for the financial crisis. The inventor of mortgage-backed securities, which proved to be neither secure nor backed, Ranieri now tells Fortune: "I do feel guilty. I wasn't out to invent the biggest floating craps game of all time, but that's what happened." When he got the securitization scam going in the 1980s, Ranieri promoted greed as eloquently as he now sells contrition. "We made more money than all the rest of Wall Street combined," he gloated.

The Lazio logs from his congressional days reveal that the then 300-pound Ranieri, who has since seen a bank he chaired go bankrupt and lost 85 pounds, was frequently breakfasting, lunching, and dining with Lazio, and often leaving messages for him.

Rick Lazio Is ‘Comfortable’ With Offending 9/11 Veterans -- Daily Intel

Obviously, Lazio, who ostensibly cares enough about the still-raw emotions from 9/11 to demand that a mosque be located far away from ground zero, would also be sensitive to the reasonable (and widely known) objections of the police officers and firefighters who lost friends and family that day. Surely he'd apologize and admit that he made a terrible mistake, right?

Republican gubernatorial nominee Rick Lazio stood by the use of graphic footage of the World Trade Center attacks Tuesday during an interview with a local radio host.

“I am comfortable with the, with the ads that we have out,” Lazio said when pressed by 77WABC’s Bernard McGuirk.

Oh. Okay, then ... Now back to protecting that hallowed ground from the Muslims!

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Old 09-11-2010, 11:04 AM   #2
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I realise it's not the central issue here, but personally I don't agree that Lewie Ranieri is one of the people most to blame for the financial crisis. There is nothing wrong in principle with the financial innovation of allowing the trading of mortgage-backed bonds (Ranieri basically invented these products back in the mid 80s which I assume is why he is being fingered as one the people most to blame for the financial crisis.)

The problem was lack of regulation and, most of all, interest rates being too low for too long a period.
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