DioGuardi Holds Press Conference at Foreclosed Home

Press Release

Joe DioGuardi, Conservative and Republican nominee for the U.S. Senate, today held a press conference at the doorstep of a foreclosed home in Syracuse, N.Y. The former owner became a victim of the subprime mortgage crisis that Sen. Kirsten Gillibrand helped mastermind during her time at the Department of Housing and Urban Development.

"Gillibrand's housing scheme ended up coercing thousands into buying homes they could not afford," said DioGuardi. "Now, the individuals who were pressured into purchasing those homes are the victims of the housing meltdown. And while the market crashed, Gillibrand cashed in. New York homeowners cannot afford to send her ideas to Washington. They have already hurt too many people."

While at the Department of Housing and Urban Development, Sen. Gillibrand worked on New Market Initiatives (i.e., subprime mortgages). Then, when the market was about to collapse, her family bet against the American dream and bought put options in subprime lenders, like Countrywide. When the meltdown occurred, Gillibrand made about $40,000.

"The foreclosure crisis has hit home for so many New Yorkers," said Natalie Martin, who now rents the foreclosed home DioGuardi visited today. "This is a crisis that hasn't just emptied people's wallets; it's taken their home away from them. That's not something you can simply replace. What's disappointing is that Sen. Gillibrand was involved in this crisis, and it's even more disappointing that she claims to be transparent, yet she's trying to cover this part of her career up. I've talked to Joe; he has a different idea about transparency. He has lived his life as an open book, and because of that I can put confidence in his leadership."

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