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This says the Obama administration specifically Timothy Geithner today saying that worries about the government spending are a quote over exaggeration.
Exaggeration rather should the president be taking notes while he's in New Jersey Carl Paladino is a Republican gubernatorial candidate here in new York and the Tea Party favorite.
Promises to do a lot of what Chris Christie's doing in New Jersey and even more welcome sir thank you for joining us again here on Bulls and Bears.
Well thank you okay what are you going to due to look like a Chris Christie type of governor if you were elected.
Why don't they -- can look like I'm I'm not that pretty but I.
I I will certainly act a lot like him we're going to we're -- -- lower taxes.
We're gonna take a 10% cut right away in 2011 and -- personal income tax.
And we're going to we're we're gonna go right to the heart of that for job creation aspect of this thing and go to our businesses that manufacture products.
And we're going to give them.
Ultimate tax relief we're going to we're going to get rid of the New York State franchise corporation tax.
Businesses that manufacture products and and we're going to give them a breather.
We're gonna give them a competitive edge so that they can create more jobs in the next day.
Now a bottom and spent and bottom -- -- spending is you're gonna have to take on the vested interest is Chris Christie is one of the biggest vested interest is teachers' unions.
They -- they've put up a -- and screaming when it comes to cutting some of their benefits are you willing to take that he.
Yeah absolutely it's time.
Everything has its time and and it's time for the the teachers' unions and the other state employee units to recognize that the those benefits that they detained in the past are are a thing of the past and we're gonna have to start dealing with a.
Well the taxpayers can't take it anymore some would say that your timing of growth is your opponents would say that your timing is convenient to it when it comes to cutting out things like.
All types of spending government spending.
In that you as a big real estate developer who made millions doing that actually took a lot of government incentives and government -- what do you say to that argument that's out there right now.
Well first of all -- upstate New York you couldn't develop without having some sort of -- tax incentive.
Program available it's -- our economy is so bad up here that that's the only way you can build things.
And it's uniform we've only taken uniform equitable subsidies that are provided by the state.
On the other hand and the landlord of the state in 37 individual leases that's true I did each one of them I was a little -- I save the state bundles of money and we also had a reputation as being the best landlord of state tendencies in the State of New York.
So you know that's just our critics that that have a political motivation try to criticize us for being good businessmen and be -- a student what we do.
And we'll bring this same astute mr.
running New York State government.
Now you've spent most your time and private sector your opponent Andrew Cuomo spent most of his time in the public sector part of that time was spent as head of Hud the housing.
Development agency the federal housing development agency.
To what extent we now have Democrats looking at a foreclosure policies to what extent do you think.
He was responsible.
And be specific about direct culpability in pushing the -- -- bad sub prime loans it got us into this mess.
Well Alan Greenspan said it the housing bubble was the chief motivating factor in the sub prime meltdown.
And who started the housing bubble Andrew -- he hasn't wanted to go up it.
Hi Andrew put heavy pressure on Fannie Mae Freddie Mac and the FHA to lower the standards.
He brought them into -- look lending a 105%.
Of of the -- out of the of the mortgage of the value.
He sold them and giving discounted interest rates up front.
Which later they didn't properly explain to people obviously.
When they adjusted for five years later the people found that their payments would double -- And how terrible assess what -- told people they have to go and tell their kids.
Don't you -- get -- back to deal tomorrow don't you think of the -- just ignoring the fact that there were hundreds of thousands of mortgage originators totally up related.
To -- totally unrelated to Andrew Cuomo out there there are guys in San Diego who were giving -- -- -- singers.
All kinds of mortgages that were ridiculous just let's simply went to total liar loans and you're blaming Andrew Cuomo for that.
Absolutely because you have to go back a little bit further.
Those mortgage lenders though there were placing those mortgages head to abide by sub prime rules.
They wouldn't give a mortgage unless they can resell it over to Fannie Mae and Freddie Mac.
And and and Andrew had loosen up those roles to the point where.
Those brokers were allowed to go out and sell those mortgages don't -- the brokers they just took advantage of the losses they were at the time it was.
Andrew who started that.
Now -- you undoubtedly will be bringing this up in debates -- Andrew Cuomo what do you expect him to answer.
You have to first get him to debate he can't face -- people on the issue right away I want him I want to let folks know forgive me -- I wanna let folks know what we always try and we always do that as we reached out to Andrew Cuomo's office to try to get him on the air as well during -- -- of yours.
And he refused go ahead.
Yeah he he's he's obviously avoiding -- thinks he's way ahead in the polls.
And and and he thinks that he can avoid and be disrespectful to the people and doesn't have to come out and explained his agenda.
Other people as stated we are wanna -- about obamacare.
They want to know why Andrew Cuomo has failed to to properly investigate and prosecute fraud waste and abuse in that -- Medicaid.
They want to -- they want some solid answers to these solid questions about how their tax bills are going up.
Up and up and how Andrew has acted in the past now here you've got that you get the chief prosecutor.
Of the most corrupt state in the union as good meal of the government of the most corrupt state of the union.
And he wants to go at a higher office think about that he has refused to prosecute.
Government officials for criminality and our severe conflicts of interest and he should be chasing him and he -- Carl Paladino he's part of the friends and family club running against Andrew Cuomo and again we really would love to have Andrew Cuomo come on as well either separately or to debate Carl.
It did not return calls or his people didn't but the invitation absolutely stands car.
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