Jack Martins Calls On Rep. Carolyn McCarthy To Come Clean On Fannie & Freddie Investments
September 15, 2008, Mineola, NY ---
Jack Martins, candidate for the Fourth Congressional District, challenged Congresswoman Carolyn McCarthy to disclose her investments in Fannie Mae and Freddie Mac, which were taken over by the federal government last week. Reuters news service reported that the ethics watchdog group, Center For Responsive Politics, identified Rep. McCarthy as one of a handful of federal lawmakers who had between $598,100 and $1.7 million of their own money invested in Fannie and Freddie in 2007, the latest period for which financial disclosure forms are available.
“The virtual collapse and subsequent federal bailout of Fannie and Freddie raise serious questions about what Rep. McCarthy knew, when she knew it, and how she might have used that information for her personal financial advantage, given the fact that she is a member of the House of Representatives Financial Services Committee, which handled the legislation aimed broadly at rescuing Fannie & Freddie, “ said Jack Martins.
According to Reuters, “lawmakers who were invested in the companies may have sold off their holdings in the last eight months as the companies' fortunes declined precipitously. Disclosure reports for 2008 are not yet available.” A spokesman for Rep. McCarthy told Reuters he did not yet have enough information to comment for the story that ran last Friday.
“In the interest of ethics, transparency and accountability, Rep. McCarthy should make her 2008 disclosure report available to the public. As turmoil in the financial markets continue to shock and unnerve small investors, pensioners, and the thousands of Nassau residents whose jobs are related to Wall Street, Rep. McCarthy should come clean about her Fannie/Freddie investments. Confidence in this Congress is at an all-time low and Rep. McCarthy’s refusal to disclose this information would be another blow to the public trust,” said Martins.
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