State senators on hook for $2 million in loans to Democratic Senate Campaign Committee

State Sen. Liz Krueger, bottom right, and other New York senators rally for rent regulation in 2011. Krueger was among 18 senators who signed guarantees for loans to the Democratic Senate Campaign Committee.  Credit: Liz Krueger's Office
State Sen. Liz Krueger, bottom middle, and other New York senators rally for rent regulation in 2011. Krueger was among 18 senators who signed guarantees for loans to the New York Senate Dems.
Credit: Office of Liz Krueger

Several New York state senators used their own holdings to back more than $2 million in loans by the Democratic Senate Campaign Committee three years ago. 

Eighteen senators put up their own money to guarantee the loans in 2010, when the committee almost went broke trying to retain control of the state senate, according to a report by the New York Daily News, which obtained the senators’ most recent financial statements.

The effort was fruitless and the party lost a majority in the state senate for the first time in 45 years.

The 18 Democratic senators backed loans to the campaign committee from the Queens-based National Bank of New York City and many are still personally responsible for the debt.

Most of the statements show senators listing personal liabilities between $100,000 and $150,000.

Josh Cherwin, executive director of the Democratic Senate Campaign Committee told the Daily News the loan guarantees were “routine requirements for a loan such as this.”

Two senators from the city, campaign committee chairman Michael Gianaris of Queens and Liz Krueger of Manhattan, signed guarantees.

“We appreciate the widespread support that has put us on track to eliminate the debt from the previous DSCC administration, while at the same time gaining four seats in the last election,” Cherwin told the Daily News.

After a futile 2010 campaign to keep a Democratic majority, the party left with almost $3 million in debt, $1.26 million of which is still owed. Democratic officials said the debt would decrease to $700,000 by the time a new financial statement is filed this month.

Bronx Sen. Jeff Klein, who abandoned the party in 2011, chaired the campaign committee at the time the loans were guaranteed. Through a spokesman to the Daily News, he blamed then-Democratic Conference Leader John Sampson of Brooklyn and his political consultants for the loans.

Follow Anna Sanders on Twitter: @AnnaESanders


News
Entertainment
Sports
Lifestyle
News

OMG! Exercise can make skin (and butt) look…

A moderate exercise regime can turn back time and actually reverse the skin's aging process, according to new research. The study showed that a minimum…

News

Mets mascot Mr. Met target of Bill Clinton…

Mets mascot Mr. Met has told how he ended up in the crosshairs of a Secret Service sniper rifle. The man behind the Mr. Met…

International

Jews in eastern Ukraine ordered to register, Kerry…

Secretary of State John Kerry condemned reports that Jews in eastern Ukraine had been ordered to register with the authorities "or suffer the consequences."

National

Chelsea Clinton pregnant with first child

Chelsea Clinton is pregnant with her first child.

Television

'Scandal' recap: Season 3, Episode 18, 'The Price…

Sally is Jesus, Olivia caused global warming, and Mellie's still drunk. Let's recap the Scandal finale. A church full of Washington insiders is about to…

Movies

Review: 'Transcendence' is not stupid but sometimes lacks…

The cyberthriller "Transcendence" explores artificial intelligence, nanotechnology and other ethical quandaries, but has too much ambition, if anything.

Television

Dick Wolf to bring fictionalized world of 'Law…

A&E has ordered a pilot called "D.O.A." from "Law and Order" mastermind Dick Wolf that will focus on real detectives reexamining cold cases. A trio…

Television

Shane West talks WGN America's 'Salem'

The actor on history lessons, a new network and showing his butt.

MLB

MLB video highlights: Red Sox score two in…

Lester shines in Red Sox win over White Sox

Sports

2014 Boston Marathon preview: Elite American, International runners…

2014 Boston Marathon: Elite American, International runners to watch

NBA

2014 NBA Finals odds: Ranking which playoff teams…

2014 NBA Finals odds: Ranking which playoff teams have the best shot at a championship. The Thunder, Clippers, Heat and Rockets lead the way.

NFL

2014 Patriots, full NFL schedule release date announced

2014 Patriots, full NFL schedule release date announced

Style

Light-up nail art syncs with phone

This Japanese technology syncs light-up nail art with your phone.

Wellbeing

Why is dance cardio taking off in NYC?

Instructors at some of the city's hottest classes explain why.

Travel

Earth Day travel in the Florida Keys

See why this eco-friendly destination deserves your attention.

Tech

Sorry, Facebook — FarmVille goes mobile with 'Country…

Zynga has released a version of the hit "FarmVille" tailored for smartphones and tablets in the hope of reaping a bumper crop of players.