Cape Politics

Beatty blasts Kerry for Fannie and Freddie contributions

Beatty says Kerry received $110,000 from failed Frannie and Freddie Mae executives

"I find it interesting that John Kerry can afford to spend $1 million to keep his fellow Democrats in power, but he can't bring himself to part with $111,000 in contributions from two government agencies he was charged with overseeing."
                                   - Jeff Beatty

GOP U.S. Senate candidate Jeff Beatty of Harwich has criticized his Democratic opponent John Kerry's donation of $1 million from his campaign account to the Democratic Senatorial Campaign Committee saying the  Massachusetts' junior senator is more concerned with partisan politics than with resolving the financial crisis that threatens the financial future of his constituents.

Beatty says he has called upon Kerry to return $111,000 in campaign contributions he took from Fannie Mae and Freddie Mac CEOs and employees or to donate that money to a fund for Massachusetts families in need who are having difficulty paying their adjustable mortgages.

The full Beatty release is below;

Beatty: Kerry has $1 million for partisan politics, but won't return tainted Fannie, Freddie contributions

BOSTON- U.S. Senate candidate Jeff Beatty today condemned John Kerry's donation of $1 million from his campaign account to the Democratic Senatorial Campaign Committee (DSCC), saying Massachusetts' junior senator is more concerned with partisan politics than with resolving the financial crisis that threatens the financial future of his constituents.

Beatty, a former small business founder and teamster, has for over 4 weeks, repeatedly called upon Kerry to return $111,000 in campaign contributions he took from Fannie Mae and Freddie Mac CEOs and employees or to donate that money to a fund for Massachusetts families in need who are having difficulty paying their adjustable mortgages. Kerry has refused to respond to Beatty's call, however, or even to acknowledge accepting the contributions.

"I find it interesting that John Kerry can afford to spend $1 million to keep his fellow Democrats in power, but he can't bring himself to part with $111,000 in contributions from two government agencies he was charged with overseeing," Beatty said. "In John Kerry's world, it seems, politics comes before the people and political ambition trumps doing the right thing for your constituents. He should be ashamed of himself."

Beatty criticized Kerry for making the rounds of the TV talk shows - where he has repeatedly blamed Republicans for the current financial crisis - instead of working to find a solution that will protect taxpayers.

"John Kerry would rather play the blame game on TV than do what Massachusetts residents elected him to do: solve the problem," Beatty said. "The record is clear: When the White House attempted to tighten the governmental controls over Fannie Mae and Freddie Mac, John Kerry blocked the legislation. Yet John Kerry refuses to accept any responsibility for his role in creating this crisis - which will cost Massachusetts families a minimum $2,500 and possibly up to $7,000 each."

Kerry owns $2 Million in stock in the insurance giant AIG - $85 Billion dollar bailout. A former FBI agent, Beatty said Kerry's lobbyist-fattened campaign chest and sizable personal stock holdings makes it impossible for him to put the interests of Massachusetts taxpayers ahead of his own personal greed and political gain.

"Throughout this entire crisis, John Kerry - the richest member of Congress - has shown that his loyalty lies not with the people who elected him, but with the financial giants who have filled his campaign coffers." Beatty said. "It's time to restore accountability to our government by electing a new Massachusetts senator - one who will serve the people's interests, not the special interests."