Sununu For US Senate - Sununu Made An Early Call For Finance Reform

Foster’s Daily Democrat

September 21, 2008

A cabal of liberal Democrats and other left-wing interests are so intent on replacing John Sununu with one of their own, they are ignoring what their own leaders have been saying years.

Sen. Sununu has been calling for tighter regulation on government sponsored enterprises like Fannie and Freddie for years. He's been doing so dating back to when he was vice chairman of the House Budget Committee and later as a member of the Senate Banking Committee. He has been consistently vocal in wanting to rein-in greed-driven practices of mortgage lending giants.

It's an election year and Democrats — including Jeanne Shaheen — will spend the next several weeks trying to rewrite the history of the past decade. It's what they do when vision and public interest trail their political ambitions.

While members of Congress like Sununu understood and spoke out against the threat posed by subprime lending practices and the related risk to the country's financial structure, members of Congress like Rep. Barney Frank, D-Mass., and Sens. Chris Dodd, D-Conn., and Charles Schumer, D-N.Y, were dragging their feet on timely reform measures.

“We see entities that are fundamentally sound financially … .” Frank said on Sept. 11, 2003. “And even if there were a problem, the federal government doesn't bail them out.”

But the federal government did “bail them out” – when there was no longer any choice. It came — after years of Democrats blocking the kind of legislation that would likely have averted the meltdown that did occur. Had action been taken earlier — when people like John Sununu were sounding alarms and when there were even officials in the Clinton administration raising concerns — the troubles at Bear Stearns, Lehman Brothers and, most recently AIG — might have been averted.

Tell a lie repeatedly and voice it loudly enough and there are people who will believe it.

It is what we expect in the weeks ahead. It is what we expect from the people guiding Jeanne Shaheen's campaign and the people who are seeing to it that her campaign is financially fertilized by the political left.

The Democratic Party's national establishment and its allied core of liberals have adopted Jean Shaheen as one their own. They have done so because they know they can count on her to show her gratitude if she is elected.

Don't confuse the 2008 U.S. Senate campaign in New Hampshire with the one six years ago. Only the names are the same.

There is a lot more at stake this year than there was in 2002.

It is Jeanne Shaheen's last chance to grab one of the brass rings of American politics.

John Sununu's re-election will broaden the respect he enjoys in New Hampshire and the influence he has been able to exercise as one of the best and the brightest of the freshmen in the U.S Senate.

There are many reasons we might cite for supporting the re-election of John Sununu. But there are two that really stand out. He has earned the trust of the people of New Hampshire, and he is beholden only to those people and the people of America.