Last night, I posted a critique of Democratic Senate candidate Dirk Adams, who has positioned himself as the progressive voice in June primary. As I noted last night, his record and public statements suggest something quite different. Today, his campaign responded, bizarrely and inaccurately.
Adams takes issue with my contention that he told Gallatin County Democrats he would run as the conservative candidate. Adams writes:
The post asserts that in September I claimed to be running as a conservative when meeting with the Gallatin County Democrats. This is not the case. I’ve been apologized to twice by the referenced sources of that article in describing my remarks that evening.
I’m skeptical, because it’s an unverified response, as is so often the case with Adams. If two sources “have apologized” to Adams for mischaracterizing his remarks, surely they would be willing to publicly acknowledge as much. If the sources do, I will retract my claim.
On the minimum wage, Adams responds:
I’ve said that raising the minimum wage is a band-aid to a structural problem that exists in our economic paradigm. I am not opposed to raising the minimum wage. It often serves as a temporary fix to a larger problem. I’ve also said that the best time to raise the minimum wage is when employment numbers are up, and there are fewer workers willing to take unfair, insufficient wages.
That’s just not what he told the Gallatin County Democrats when he met with them. He told them that “he opposes raising of the minimum wage, citing what he considers to be the result – the elimination of jobs by businesses refusing to hire and pay employees at what we maintained would barely be a living wage”
That’s a fundamental contradiction, and Adams is wrong to oppose an increase in the minimum wage. Even if adjusting it would be a “temporary fix,” it’s a temporary fix that could dramatically improve the lived of thousands of Montanans and millions of Americans.
Adams argues that he was only involved with the collapse of one financial institution, writing:
The blog post asserts I was involved in the failure of several financial institutions. Again, flat out wrong. I had the unfortunate experience of being involved with one. It was a community bank, one of a thousand, that didn’t get bailed out when the housing market crashed.
According to Politico, Home Savings of America was closed for “for “poor risk management practices, among other “questionable activities by the management” when Adams was CEO of the company. Adams was also the executive of First Federal Bank of California in charge of home lending—and it failed after Adams left for “ its high-risk growth strategy…with excessive concentration in option adjustable-rate mortgages without implementing adequate controls to manage associated risks.”
Bizarrely, Adams claims that I said another of his banks failed:
I’ll point our here, too, another way in which Intelligent Discontent hasn’t done their homework. The post refers to the “failure” of Golden West Bank which I left in 2000. It was then sold to Wachovia in 2010. Golden West never failed. Wachovia did, ten years after I was gone.
I’m not sure what he’s talking about, as my post makes no reference to Golden West, another bank Adams was involved in. If I missed yet another bank that failed after Adams was involved, surely he can understand my omission.
Even more bizarrely, in his response Adams claims not to have been associated with a mortgage infomercial company, claiming that the video I included about Guaranteed Home Mortgage Company has nothing to do with a company he was involved because the logo is different.
Here’s the evidence he’s just not telling the truth.
- Adams was hired as the President of Guaranteed Home Mortgage in 2012.
- This is the web site (and logo) for Guaranteed Home Mortgage.
- Guaranteed Home Mortgage relied on a strategy of local braches to sell its products and move loans.
- In 2010, this was the logo for Guaranteed Home Mortgage Company. That was the same logo used in the video I posted yesterday. Today, GHM has a slightly different logo. I’ve posted both below for comparison.
In 2012, Adams took a job for a company that pushed mortgages using cheesy infomercials that probably misled consumers. That he’s now claiming those were different companies is either a reflection of terrible business acumen in 2012 or fundamental dishonesty today. It’s astonishing that we would try to claim otherwise.
I understand that Adams is probably quite embarrassed to have been at an indeterminate number of financial institutions in charge of mortgages before, during, and after the mortgage collapse that nearly brought down the world economy, but the facts speak for themselves.
Finally, in his correction Adams admits he has no problem with fracking:
In regards to what the blog post says regarding fracking and coal, it is accurate that I am not opposed to hydro fracking.
Perhaps now he’ll spare us the lectures on his environmental bona fides.
It’s great that a Senate candidate is willing to mix it up with and respond to critics, but Mr. Adams seems like he could use a lot more consistency and even more accuracy as the campaign continues.