Kansas City Star Primebuzz: Jordan Ties Moore to Mortgage Mess, Bad Economy
Republican Nick Jordan believes he's found the silver bullet to take down five-term Democratic Congressman Dennis Moore.
Nick Jordan At a 1 p.m. news conference today, he loaded it and fired.
"We've found the smoking gun," said Dustin Olson, Jordan's campaign manager.
Their new ammunition is an amendment offered by Moore and four other House members on a bill last year to increase regulation of Fannie Mae and Freddie Mac, the mortgage giants swamped with bad subprime loans.
The bill finally passed on May 22, 2007, and ultimately became law.
Jordan, a Kansas state senator, cited the Wall Street Journal as reporting that Moore's amendment "guts the one provision that made it worth the effort."
Jordan said Moore's amendment gutted the authority of federal regulators to limit or shrink the size of loan portfolios because they were too large or might pose a risk to the overall system.
During the press conference, Jordan compared Moore to Nero who fiddled while Rome burned.
"After years of playing with matches, Dennis Moore and Congress seemed shocked to see flames engulfing our economy," Jordan said, adding that Moore was a member of the committee that oversees financial institutions for 10 years.
Jordan repeated his charge that Moore took more than $30,000 in campaign contributions over that period from Freddie Mac and Fannie Mae.
The Republican also said that on the day of the vote Moore received $34,000 in campaign contributions from companies that benefited from the $700 billion economic rescue plan that Moore supported and was recently approved by the Congress. Jordan said he would have opposed what he called a "bailout of Wall Street."
Shortly after the Jordan event, the Moore campaign called its own press conference for 3:15 p.m. today. Stay tuned.