Friday, March 26, 2010

Why did Sipprelle donate to Schumer?

Scott Sipprelle has been explaining his donations to Democratic members of congress by rationalizing that "90%" of his political donations have been to Republican and conservative causes, and that he donated recently to conservative "blue dog" Democrats in an effort to get them to oppose Obamacare. 2 of the blue dogs Sipprelle donated to voted for Obamacare.

But he always gets testy when asked about his donations to Chuck Schumer.

Wednesday night at the Middletown Republican Club's candidates night a club member asked Sipprelle about his donations. He gave his "90%-blue dog" stump answer. When the questioner followed up with "but you gave money to Chuck Schumer," Sipprelle raised his voice and said "I reject your hypothesis" and went on to condemn excess congressional spending when Republicans were in control during the Bush Administration. He has a point about the excess spending, but that was not the woman's hypothesis. His answer fell flat on the crowd and Middletown GOP chairman Peter Carton attempted to provide damage control.

Back in January, just after Sipprelle got into the race for the GOP nomination to challenge Rush Holt, he told Tea Party activist (and now a candidate for the GOP nomination for Middlesex County sheriff) John Mennella that he donated to Schumer because his boss at Morgan Stanley pressured him to. Sipprelle said he quit Morgan as a result. MoreMonmouthMusings discovered that was not possible, as Sipprelle left Morgan in 1998 but donated to Schumer in 2002.

Why does Sipprelle have such a hard time explaining his relationship with Schumer? Why does he get testy when someone brings it up?

Given Sipprelle's explanation for the "blue dog" donations, i.e. that he was trying to save us from Obamacare, I figured I'd look into what Schumer was up to in 2002 to get insight into why Sipprelle was attempting to influence Schumer.

In 2001 and 2002, Schumer sponsored several bills that were responses to the 9/11 attacks. Bills to strengthen port security, improve law enforcement and intelligence sharing and to provide financial assistance to the families of victims of the attacks. If that is what Sipprelle was supporting, why doesn't he just say so?

Schumer and Dick Durbin were the Democratic leaders in the Senate that arranged for the filibuster against Miguel Estrada's appointment to the U.S. Appellate Court. Democrats were threatened that a Hispanic conservative would be appointed to the nations second highest court. I can't imagine that Sipprelle supported those efforts. But who knows? He won't tell us.

Schumer sponsored legislation to prevent oil and gas drilling on federal land around the Finger Lakes in upstate New York. Sipprelle went to college in upstate New York. Maybe he just wanted to keep his alma mater pretty. I can get that. Why not say so?

Schumer sponsored legislation to amend the IRS code in a way that would support the hotel and restaurant industries in post 9/11 New York. Maybe Sipprelle wanted to deduct his lunch or help out the owner of his favorite watering hole. Who knows? He won't tell us.

Maybe this is it:

Schumer sponsored a series of bills that made home mortgages easier to get. 1% down payments and loan guarantees. Preservation of defenses with respect to the sale or transfer of predatory loans. He also sponsored legislation making it easier for credit reporting agencies to disclose consumer credit scores. Was Sipprelle's hedge fund trading sub-prime mortgages? We don't know. He won't tell us.

Sipprelle closed his hedge fund in 2007. Credit spreads were widening on securitized mortgages at that time, an early indication that the bubble was under stress. I don't know if Sipprelle was trading sub-prime mortgages. He won't say. I bet Rush Holt will be looking into it if Sipprelle is the GOP nominee.

Here's a list of Schumer's legislative activity from back then.

We still don't know why Sipprelle donated to Schumer. He should stop getting testy when the subject is brought up and just answer the question.

10 comments:

Anonymous said...

Frankly, I do not care who he gave money to. What I care about is who will beat Holt and Sipprelle is the only candidate who will beat Holt. If you think Half-a-Brain is going to win, you might as well give your money to HOLT.

Enough already, Sipprelle will win the line and he will win the seat.

Anonymous said...

give up art, halfacre is hopeless and not even going to win monmouth screening.

Anonymous said...

Art, give it a rest. It was one small donation eight years ago. Compare that to the almost $100,000 Sipprelle has given to Republicans/conservative causes in the last ten years. Judge a man by the totality of his conduct. You've beaten this horse long enough. Let's move on to focusing on beating Holt.

Anonymous said...

Yawn...Art there's no "there" there. This is boring.

Anonymous said...

Why did Sipprelle donate to Schumer, because he could! what's wrong with that. Times change for everyone! Get real. Today is Today!

Wake me up when it's over said...

NO ONE CARES,it's their money, and we care where OUR money's going, and who will get in and spend less of it, and spend it better!.. if they did care, Gooch's hubby's thousands to Palloney would resonate and make her look worse than she already does..

Anonymous said...

Thanks Art for setting forth a number of perfectly good reasons why Sipprelle might have given a donation to Schumer in 2002. I had questioned this myself until now. Actually, I'm quite satisfied with the possible reasons you cite as to why a conservative like Siprelle could with a clear conscience have donated to Schumer.

Art Gallagher said...

Thanks Art for setting forth a number of perfectly good reasons why Sipprelle might have given a donation to Schumer in 2002. I had questioned this myself until now. Actually, I'm quite satisfied with the possible reasons you cite as to why a conservative like Siprelle could with a clear conscience have donated to Schumer.

You're welcome.

Anonymous said...

Art,
aside from the fact Sip will not talk to you (which is a legit gripe on your part) In light of his overwhelming support for Republicans do you really see this as an issue.

lets face it if you worked on wall street you probably gave money to Senator shmucko. A cost of doing business.

second question

Don,t yo find the donor history Of Mr and Mrs Gooch more disturbing?

Art Gallagher said...

Art,
aside from the fact Sip will not talk to you (which is a legit gripe on your part) In light of his overwhelming support for Republicans do you really see this as an issue.

lets face it if you worked on wall street you probably gave money to Senator shmucko. A cost of doing business.


My problem with Scott has very been the donations. My problem with Scott is his lack of candor in answering the questions about the donations.

second question

Don,t yo find the donor history Of Mr and Mrs Gooch more disturbing?