Powell: “I’ve Struggled To Maintain My Home Due To Mortgage Crisis”

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On August 5, 2010, the New York Daily News broke a story regarding me having not yet disclosed my financial statements for my congressional race this year and my failure to file in 2008.

I admit that I failed to file on time. As a candidate, this was clearly not in line with my commitment to full disclosure.  My team is moving forward to correct our mistake and will notify you as soon as we are told that the disclosure has been processed.

As for Mr. Towns’ desire to obtain the filing, I admit up front that Congressman Towns and the press will find that I have been struggling to maintain my own home due to the subprime mortgage crisis and the resulting recession.  As an author and a community activist, I have made a living promoting change through various mediums, but this crisis has been very hard on those of us trying to positively impact our communities from outside of government.

Unlike Congressman Towns, I am attempting to right the disclosure issue. We are doing what we can to make things right with Washington.  It will take time and remains out of our hands as they have the filing and we await their response.  My opponent, on the other hand, has the power to hold up processes in Washington, just as he did as Chairman last summer when he stalled the investigation into Countrywide’s “Friends of Angelo” preferable mortgage treatment as he and other members of Congress had benefited from to obtain luxurious homes at reduced rates. Please see http://online.wsj.com/article/NA_WSJ_PUB:SB124588865553750813.html

We here in the 10th Congressional District are struggling to keep our homes due to financial and mortgage policies that benefited the Congressman and his Washington friends.  He’s really no longer one of us.

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