Laffey's stem-cell investment draws fire.(Chafee getting REAL desperate)

PROVIDENCE -- Republican U.S. Senate candidate Stephen P. Laffey opposes expanding federal support of embryonic stem-cell research, though Laffey last year invested his own money in a California bio-tech company working on embryonic stem-cell therapies.

That smells like hypocrisy, says Sen. Lincoln D. Chafee, Laffey's opponent in the September GOP primary. Chafee supports increasing federal money for embryonic stem-cell research, and opposed President Bush's recent veto of the legislation.

Laffey, the mayor of Cranston, disputes the charge of hypocrisy, and says he'd rather steer more federal money toward what he considers a better value: research using adult stem cells, which are harvested without destroying human embryos.

"What Senator Chafee doesn't understand, because he never worked in the private sector, is that there is a difference between watching and saving taxpayer's money, and what people do in the free world in the private sector," Laffey said. "There's no hypocrisy at all. I'm free to do what I want to do in the private sector."

Laffey says he has studied the issue, and believes that therapies developed from adult stems hold more promise than embryonic stem-cell research. "I take very seriously the spending of federal dollars," the mayor said. "As I look at the scene, as the economic, financial guy that I am, I think we should take those dollars and put them into adult stem cell research."

As for embryonic stem-cell research: "I don't think there is going to be any success," Laffey said.

Most Americans disagree. A national poll conducted July 21-22 by the independent pollster Rasmussen Reports shows that 70 percent of Americans believe embryonic stem-cell research has the "potential to lead to cures" to previously incurable diseases. The same poll showed that for 58 percent of respondents, the stem-cell issue will be "very important" or "somewhat important" in choosing candidates in the November election.

Congressional action on the subject has drawn national attention to the issue of stem-cell research. By a 63-to-37 vote, the U.S. Senate on July 18 approved a bill to expand federal financing of embryonic stem-cell research. The legislation went to President Bush, who used his first veto against it.

In his veto message, the president said: "If this bill were to become law, American taxpayers for the first time in our history would be compelled to fund the deliberate destruction of human embryos. Crossing this line would be a grave mistake and would needlessly encourage a conflict between science and ethics . . ."

Chafee was one of 19 Republicans to vote in favor of expanding the stem-cell grants. (Rhode Island's senior senator, Jack Reed, a Democrat, also supported the bill.) The legislation would have allowed federal tax money to be spent on medical research on stem cells culled from embryos left over from fertility clinics. Many researchers say embryonic stem cells hold great potential to cure diseases; many opponents have argued it is wrong to destroy human embryos in laboratory research.

In a campaign statement earlier this week, Laffey said he would have voted against the bill, known as HR 810.

"When it comes to spending tax dollars for research on viable embryos, I am very uncomfortable," Laffey said.

The Chafee campaign quickly pounced, accusing Laffey of "hypocrisy," and issuing a statement on Wednesday pointing out Laffey's investment last year in Geron Corp., a California bio-pharmaceutical company that does embryonic stem-cell research.

"I suggest [Laffey] explain to Rhode Islanders suffering from diseases such as Parkinson's and Alzheimer's why he believes it is proper to personally profit by embryonic stem-cell research, but will not encourage the federal government to give funding to scientists at the forefront of this groundbreaking research," Chafee said in a statement.

Laffey listed an investment in Geron Corp. on financial disclosure forms required of U.S. Senate candidates. The form is dated Sept. 28, 2005. In it, Laffey listed a personal investment of Geron stock of "less than $1,001." He listed income from the stock of between $2,501 and $5,000. He said yesterday he did not know Geron did embryonic stem-cell research when he bought the stock last summer. "I was actually buying a group of stocks," said Laffey, the former president and chief operating officer of Morgan Keegan, a Tennessee investment banking firm. Laffey said he sold the stock last September.

Geron states on its company Web page that it is "developing cell-based therapeutics for several diseases" based on "cells derived from human embryonic stem cells." The company is using embryonic stem cells in medical research for spinal cord injuries, Parkinson's disease, heart disease, diabetes, and AIDS. The company says it is currently conducting animal studies, and hopes to move to clinical studies "on treatment for acute spinal cord injury."

The Cranston mayor said his father is suffering from Alzheimer's disease. "What I really object to is the moral high ground Mr. Chafee tries to take on this issue," he said. "No one can tell me that I don't know about diseases."

Among the Democrats running for Chafee's seat, both would have voted in favor of expanding the research:

Former Attorney General Sheldon Whitehouse issued a statement in support of federal financing, saying: "For too long, President Bush and Congressional Republicans have put ideology before science and held federal support for these potentially life-altering breakthroughs hostage to cynical, partisan politics."

Businessman Carl Sheeler said in an interview he has close friends who have suffered spinal injuries, and considers it "abhorrent" that the government would not do everything possible to improve the quality of life for those people. "This is the next level of uncharted territory to make scientific progress," he said.

Unfortunately for Linc, potential benefits from advances in embryonic stem cell research will not help his doomed re-election bid. This ass clown is going nuclear and is ducking Laffey's request for debates. Limp wrist Linc knows that if he were forced into a debate with Laffey that his campaign would be DOA. Laffey would expose him for the wishy washy, stuttering fool that he is.

Does this means Chaffee might lose his seat? Where have I been? Sometimes I think it better to be stabbed in the front by and opponent than in the back by your own guy.

And Lincoln's defeat will be called a defeat for Bush by the drive by media. Go figure.

It would be sad to lose this seat. Even though Chaffee is a RINO, the R by his name means another R seat in the Senate. I hope whoever wins the primary can win in the general election. Rhode Island is heavily Dem. I mean, the Dems are putting up Patrick Kennedy again even after his escapade with the Capitol barrier. I'm afraid only a RINO could get elected in RI.

I understand your point. Here in Mississippi is alot different in Rhode Island.I can understand why Chafee is given some GOP slack because we do need the "R" but never why they don't attempt any serious campaigns in Florida, Arkansas, Montana, and even Nebraska.

And Lincoln's defeat will be called a defeat for Bush by the drive by media. Go figure.

Lincoln's defeat really really would be a defeat for Bush, they're 2 RINO peas in a pod and Bush has bent over backwards to see that Chafee keeps his seat

So 70% of Americans think embryonic stems cells hold potential to cure diseases. Well 99% of Americans don't know what the hell embryonic stem cells are and their opinion on viability for research is wholly without merit.

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