Gillibrand Focuses On Ford's Possible Bank Bonus
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Wall Street has become a political hot potato nationwide, and on Friday Senator Kirsten Gillibrand demanded that her potential challenger Harold Ford Jr. reveal fully his ties to the financial industry. NY1's Josh Robin filed the following report.Trying to seize national anger over Wall street bonuses, Senator Kirsten Gillibrand is asking her potential Democratic challenger Harold Ford Jr. whether he received a bonus from Bank of America.
"I think it's essential that he disclose this information, and I think it's only fair that New Yorkers have a right to know," said Gillibrand.
Ford, a former Tennessee congressman, is on leave from Bank of America, which has paid back its federal bailout. He has not yet declared his candidacy and has declined specifics about his payment.
On Monday, when asked whether he received a bonus, Ford said, "I can say that I fulfilled the contract, and I was paid the terms of the contract.... [T]here was a contract, that was a part of it, and I received what was laid out in the contract."
Asked again on Friday, a spokesman said Ford's compensation is "set by a contract that states a specific amount."
Gillibrand has been critical of Wall Street before this race, and as a congresswoman voted against the Troubled Asset Relief Program, or the so-called "TARP bailout." Still, as the senator faces a primary challenge from the right, the former corporate lawyer is unmistakably turning populist.
"It's about the process of manipulation. If she can look more like the electorate when she talks, the higher the probabilities are that the electorate will look well on her," said political consultant Hank Sheinkopf.
Ford's strategy is to spread concern Gillibrand is selling out the state.
Ford's spokesman said in part Friday, "[Gillibrand] told New Yorkers that she has other priorities than creating the jobs that they need. No wonder voters across the state are encouraging Harold to run."
Some of Ford's supporters are on Wall Street, including those who are close to Mayor Michael Bloomberg. The mayor is officially neutral in the race, but appeared to criticize the congressional delegation on his Friday radio show.
"I don't see the congressman from Michigan sitting around letting anybody bash the automobile industry or the elected officials from Texas, they wouldn't stand for two seconds for going after the oil industry," said Bloomberg.
Bloomberg's former campaign manager is already advising Ford and the mayor could get involved even more. Yet the former Republican's help could also backfire in a Democratic primary.