Rudman calls Sununu 'lone voice' on financial oversight

Former New Hampshire U.S. Sen. Warren Rudman defended U.S. Sen. John Sununu's (R-Waterville Valley) stance on the financial bailout and said Sununu has been at the forefront of reforms for various financial institutions.

Rudman told reporters on a conference call that Sununu offered legislation to reform Fannie Mae and Freddie Mac years ago but was blocked by congressional Democrats.

"He was one of lone voices to point out that the situation with Fannie and Freddie was really dangerous, that the government ought to improve its regulation," Rudman said.

Rudman, a founder of the Concord Coalition, also said that the bailout plan that Sununu voted in favor of is not perfect but said it is necessary to make sure the credit market does not collapse.

"In my time in the Senate I often had to cast votes that were tough that people didn't like, but which I truly believed were in the best interests of the country, and I've always believed that people sent you to Washington to use your best judgment and I'm sure that's what John's done," he said.

Speaking to reporters Rudman said that Sununu's opponent, former Gov. Jeanne Shaheen (D-Madbury) was not "terribly effective" when she was governor and she failed to solve the education funding problem.

"I have always had a decent personal relationship with Jeanne Shaheen and I would never say anything personal against her," Rudman told reporters. "But I would simply make the observation that I watched her as governor and didn't think she was terribly effective and as I watch this campaign she seems to be all over the place on some issues."

Rudman also wrote an op-ed piece in this morning's The Union Leader defending Sununu.