Spin Cycle

News, views and commentary on Long Island, state and national politics.

An open question: Every day this Levy-Lazio governor war continues, does the GOP-Conservative front get so splintered that Democrat Andrew Cuomo reaps the benefit in the November election?

Anyway, below is Suffolk Exec Steve Levy's answer in full to ex-Suffolk Rep. Rick Lazio's latest hit on Prospect, Baranello, etc.

"Rick Lazio is again spreading lies and distortions about his political opponents. The fact is Steve Levy has run a scandal free government and has been a champion of ethics reform, including passing landmark redistricting reforms, creating Suffolk County’s first ever Ethics Commissioner, and professionalizing county boards by establishing standards and barring political leaders from being appointed.

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"Rick Lazio on the other hand has much to answer for on the ethics front. He has been one of the top recipients of campaign donations from Wall Street firms. That’s because as Chair of the Housing Subcommittee of the House Banking Committee he helped them make billions by eliminating banking protections. As chair of that subcommittee, Mr. Lazio shepherded through Congress the Gramm-Leach-Bliley Act, which many economists - including Nobel Laureates – credit for the 2008 collapse of the stock and real estate markets and worldwide recession. Then, upon leaving the House, he was rewarded with a lucrative job.

 

"After these mega bank and investment firms received billions in taxpayer financed TARP money to avoid collapse due to the recession Mr. Lazio helped create, Mr. Lazio accepted a $1.3 million personal bonus from one of these firms."

 

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