Experts weigh in on campaign allegation

WTNH TV

Updated: Sep 12, 2012 6:23 PM

HARTFORD, Conn. (WTNH) -- Some financial experts are saying that Republican Linda McMahon's allegations against Democrat Chris Murphy do not hold up.

Murphy's campaign is continuing to deal with the fallout from an allegation from his Republican opponent that he got some kind of sweetheart home equity loan deal from Webster Bank.

McMahon is saying that voters should connect the dots.

According to the McMahon campaign, the dots are that Murphy once did legal work for the bank. The bank's political action committee once gave a contribution to his campaign. And the bank got a $400 million bail out from the federal government.

However, Michael Tucker, a professor of finance at the Dolan School of Business at Fairfield University, says there really aren't any dots to connect.

"I don't see any 'smoking gun,' I don't see any 'gun' what-so-ever," Tucker said.

McMahon's campaign says that because Murphy had missed some mortgage payments with another bank in the past, which he later paid back, that he was a poor credit risk, but got preferential treatment.

"I don't see anything here that would indicate that there's anything going on that's corrupt or illegal or anything of that nature," Tucker said, "this looks quite above board and typical banking practices."

And like Professor Tucker, several other finance experts have told the Connecticut Post that the available evidence does not support McMahon's allegations against Murphy.

"Meet the real Linda McMahon. McMahon laid off 10 percent of her employees, even workers in Connecticut. Didn't pay Medicare, Social Security, and unemployment for her wrestlers," said an announcer in one campaign ad.

Starting Wednesday, the Democratic Senatorial Campaign committee launched the TV attack ad to counter the barrage that's been on from the McMahon campaign. McMahon's campaign calls them false and misleading.

However, the fact that the National Democratic Senatorial Campaign committee is willing to spend a large amount of money in a blue state shows that they feel Murphy is in trouble in his campaign against McMahon.

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