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44TH SENATE DISTRICT
Farley announces re-election bid
BY KATHLEEN MOORE Gazette Reporter

    Republican state Sen. Hugh Farley officially announced his campaign Monday after the Republican, Conservative, and Independence parties endorsed him.
    Farley, who has been elected to 16 consecutive terms in the Senate, has beaten both political heavyweights — including now-Mayor Brian U. Stratton — and relative unknowns. But even if Farley continues his winning streak this year, he may be demoted. The Democrats are within one seat of taking the majority in the Senate and believe they will be successful this fall, taking Farley’s majority whip position if not his seat.
    In Monday’s announcement, Farley said his biggest recent accomplishment involved legislation enacted last month to help homeowners snared in the subprime mortgage crisis.
    “This is a complex issue balancing our desire to protect families from losing their homes with our responsibility to ensure the safety and soundness of our lending institutions,” Farley said. “Instead of partisan bickering, I was able to bring together people on all sides of the issue to reach a timely agreement.”
    As chairman of the Committee on Banks, he led the Senate consideration of a bill proposed by Gov. David Paterson. The new law gives homeowners an extra 90 days before foreclosure and makes criminal some loan practices, including refinancing schemes that don’t give the consumer a better deal on the mortgage.
    In Monday’s announcement, Farley also touted his efforts to reduce property taxes, particularly the STAR program, which uses state funds to pay a portion of each homeowner’s school tax.
    His opponent is Democrat B.K. Keramati, an Iranian who immigrated into the U.S. as a young adult and earned a Ph.D in mechanical engineering here. After college he moved to Schenectady, where he became a manager at GE Global Research before retiring in 2004.
    They are competing for the seat in the 44th State Senate District, which includes Schenectady, Fulton, Montgomery, and part of Saratoga Counties.