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Ex-Bear Stearns Economist Takes Step to NY Senate Run

David Malpass, president of Encima Global and a former chief economist at Bear Stearns, has filed paperwork to run for US Senate in New York.

“[My] message is so clear that I think it will be compelling for voters,” Malpass told CNBC Tuesday. “We need jobs and growth, and we need Washington to stop the tax and spend policies that they’ve been doing for so long.”

Malpass, a Republican, criticized Democrats’ jobs bill and financial reform legislation.

“We need financial reform legislation but one that gets us toward more jobs and growth, not one that gets us toward more Washington,” he said.

Malpass told CNBC he plans to officially announce his candidacy in mid-April.

Malpass hopes to be the Republican challenger for incumbant Kirsten Gillibrand (D-NY) whose seat is up for election this year. Gillibrand was appointed to replace then senator Hillary Clinton when Clinton became secretary of state in the Obama administration.

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