Saturday, July 2, 2011

Soucy conspicuously shielded from FRM inquiry

June 10, 2010 by ShawnMillerick  
Filed under State House

Donna Soucy and Maggie Hassan

One central figure at the state’s Banking Department throughout much of the period during which Financial Resource Mortgages was running its Ponzi scheme has avoided any scrutiny from the joint legislative committee investigating the scheme.

State Banking Commissioner Peter Hildreth has been put on paid leave for his failure to address numerous fraud complaints against the company until it was too late for many investors and Gov. John Lynch has asked for Hildreth’s resignation.

But Hildreth’s legal counsel at Banking during much of the period in question was a woman named Donna Soucy. One might think that the legal council at the Banking Department would have some valuable insights into what might have gone wrong in the largest financial scandal in New Hampshire history.

But Soucy has not been called to appear before the committee headed up by Democratic State Senator Maggie Hassan. And sources tell NowHampshire.com that Soucy has avoided responding to numerous requests for comment by members of the press.

NowHampshire.com inquired with Sen. Hassan as to why she has failed to call the legal counsel for the Banking Department before the committee but Hassan refused to respond.

The answer may be found on the Internet, though. In 2007, Soucy left Banking to become the Chief of Staff to the New Hampshire State Senate. She is, essentially, the top staff member to Sen. Maggie Hassan.

Soucy may enjoy additional political protection through her close relationship with Democrat State Chairman Ray Buckley. She and Buckley are said to be very close personally. Soucy has made over $4,000 in donations to the New Hampshire Democrat Party since taking her position with Hassan.

Hassan has been under fire recently for risking the integrity of the joint committee. She has called former-Attorney General and Republican Senate candidate Kelly Ayotte to testify before the committee despite her close political affiliation with Ayotte’s Democrat opponent Paul Hodes. She has subsequently suggested that Republicans on the committee should recuse themselves from the hearing with Ayotte because they cannot be objective.

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