U.S. Rep Scott Garrett (R-Wantage)A staunch opponent of mortgage company regulation and bailing out distressed borrowers, U.S. Rep. Scott Garrett (R-Wantage) has a new chief of staff with ties to the troubled mortgage industry.
Amy Smith, who was hired as Garrett's chief-of-staff in March, spent two years as a lobbyist for the boutique firm Bartlett, Bendall and Kadesh, LLC, during which time she helped lobby for Countrywide Financial, the mortgage giant that has borne part of the blame for the subprime crisis, along with several other clients.
That, according to the campaign of 5th District Democratic challenger Dennis Shulman, represents a "revolving door culture in Washington."
Between 2003 and 2004, when Smith was Between 2003 and 2004, when Smith was with the firm, Countrywide paid it $380,000 in fees.
Garrett sits on the House Financial Services Committee and its Housing and Community Opportunity subcommittee. Known as one of the most fiscally conservative members of congress, Garrett has been an opponent of additional regulation for the mortgage industry since well before he hired Smith.
Hauser argued that the hiring of a staff member with past ties to a company at the center of the crisis makes it hard for Garrett to take an honest look at the problem, especially when he sits on a committee that oversees lending practices.
"We would hope that he looks at the facts in addition to his ideology, and we would hope that his views would reflect changing facts," he said. "I don't believe if your chief of staff represents special interests, that your views will ever grow, mature or change."
Garrett has received $5,000 in campaign contributions from Countrywide since entering office in 2003, including a $1,000 contribution made the same month Smith began in her position. The company has also donated $2,000 to Sen. Bob Menendez (D-Hoboken), $500 to Rep. Rob Andrews (D-Haddon Heights) and $250 to Rep. Frank Pallone (D-Long Branch).
Smith, however, said she never lobbied Garrett during her time with the firm and that her former ties to Countrywide Financial have no impact on her work for Garrett's office.
"Clearly we want to make sure that the people are represented in an appropriate way, and Congressman Garett has had strong positions all along," she said. "His positions have always been the same and that's one of the reasons I wanted to work with him."
Smith, a Kansas native, began her political career as a staffer for former Sen. Bob Dole (R-Kansas) before becoming a deputy assistant treasury secretary in the Bush administration. She returned to Kansas after working as a lobbyist, got her MBA, then returned to work for Rep. Brian Bilbray (R-Calif.).
Countrywide Financial has faced bi-partisan criticism and scrutiny for more than just subprime loans. It's currently at the center of two Washington scandals.
Senators Chris Dodd (D-Conn.) and Kent Conrad (D-N.D) have faced fire for accepting cut rate mortgages from Countrywide, while Obama advisor Jim Johnson was forced to resign from the candidate's vice presidential screening committee after it was reported that he had received reduced rate loans from the company.
Phyllis Sarlowe-Kay, the executive director of New Jersey Citizen Action, which advocates on behalf of mortgage defaulters, said that the ties to Countrywide "give her pause," but that simply having a staff member who's a former lobbyist does not indicate a conflict of interest.
"I think probably Scott Garrett would say given the mortgage crisis that's happening it's great to have someone eon my staff who has knowledge," she said. "The unfortunate thing is that she's a person who obviously comes from the company that has been the major part of the problem that we're facing."
Smith said that she hasn't had any contact with Countrywide since she started in Garrett's office, and that her desire to return to Capitol Hill was based purely on principle.
"I wanted to come up and work for the American taxpayer and American people," she said.
Garden State Equality fires new broadside at Dems Smarting over the state Senate's refusal to pass marriage equality and disillusioned at the moment with the Democratic Party majority, Garden State Equality’s 85-member Board of Directors unanimously decided against giving financial contributions to political parties and their affiliated committees. ...
“We will work harder and smarter to protect consumers, to preserve civil rights, to effectively regulate the alcoholic beverage industry, to ensure that the integrity of New Jersey’s casino gaming industry continues, to keep drives, passengers and pedestrians safe on our streets, to assist victims of crimes, and to remember always the importance of juvenile justice on issues affecting the state." -- Attorney General-designate Paula Dow, at her Senate confirmation hearing.
- PolitickerNJ.com, 02/08/10Press releases are submitted by PolitickerNJ users, not by staff. They do not represent the viewpoint of PolitickerNJ.com.
Wow - is Shulman this
Wow - is Shulman this desperate to win that he'll reach this far - or is the 5th district race so bland that this is news?
Yawn
Not much here
Anyone else think that this is a non-story? So she worked for a lobbying firm that once did work for Countrywide - so what?
Dobbs and Conrad personally and monetarily benefitted from reduced mortgages from Countrywide - and somehow what is on a Garrett staffer's resume comes close to that kind of impropriety in the eyes of Friedman?
Veritas vos Liberabit
"Collecting more taxes than absolutely necessary is legalized robbery." - Calvin Coolidge
Weakkkkkkkk
Oh come on, Scott Garrett would oppose any government bailout anyday. He's the 100% conservative..bad job by the Shulman campaign on this one.
They are focusing on the wrong issues. They need to hit Garrett on poor representation and effectiveness. There's got to be other issues that will be more useful to go after Garrett, but he will still win anyway. The only way he loses is redistricting or maybe..just maybe a really good primary challenge who can split some conservatives.
I look forward...
to Shulman coming out and demanding that Chris Dodd, Byron Dorgan and other Democrats that received sweet mortgage deals be held to greater scrutiny.
That won't happen, revealing him as another phony trying to get a leg up using a non-issue.
Garrett is a straight arrow.
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