Toomey Blasts Sestak Over Mortgage Crisis

Mudslingin’ begins as Sestak and Toomey head into final stretch, neck-in-neck


PHILADELPHIA — Republican Senate candidate Pat Toomey on Wednesday attacked his Democratic rival, Joe Sestak, for Sestak’s votes in support of the bailouts of mortgage giants Fannie Mae and Freddie Mac – and said he had warned of the housing crisis years ago.

Toomey, a businessman who served in the U.S. House from 1999 to 2005, said Congress could have avoided or greatly mitigated the housing collapse if it had passed a bill he co-sponsored in 2003 that would have increased government regulation over Fannie and Freddie.

“Congressman Sestak sold taxpayers out in order to pursue his left-wing agenda,” Sestak said at a campaign event at a downtown hotel, adding that the bailout of Fannie and Freddie cost $148 billion. “He now wants taxpayers to pay for his mistakes.”

Toomey and Sestak are locked in a hyper-competitive race to replace five-term Sen. Arlen Specter, whom Sestak defeated in the May primary after deciding not to run for re-election to his suburban Philadelphia congressional seat while he ran for Senate.

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