easyt65
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Harry Reid Hangs Up on Reporter Questioning $1 Million Land Deal
From the AP:
:bolt
In the process, Reid did not disclose to Congress an earlier sale in which he transferred his land to a company created by a friend and took a financial stake in that company, according to records and interviews.
http://mypetjawa.mu.nu/archives/184964.php
Senate Democratic Leader Harry Reid collected a $1.1 million windfall on a Las Vegas land sale even though he hadn't personally owned the property for three years, property deeds show.
http://timesunion.com/AspStories/story.asp?storyID=524641&category=&BCCode=&newsdate=10/11/2006
WASHINGTON -- Senate Democratic Leader Harry Reid collected a $1.1 million windfall on a Las Vegas land sale even though he hadn't personally owned the property for three years, property deeds show.
In the process, Reid did not disclose to Congress an earlier sale in which he transferred his land to a company created by a friend and took a financial stake in that company, according to records and interviews.
Land deeds obtained by The Associated Press during a review of Reid's business dealings show:
--The deal began in 1998 when Reid bought undeveloped residential property on Las Vegas' booming outskirts for about $400,000. Reid bought one lot outright, and a second parcel jointly with Brown. One of the sellers was a developer who was benefiting from a government land swap that Reid supported. The seller never talked to Reid.
--In 2001, Reid sold the land for the same price to a limited liability corporation created by Brown. The senator didn't disclose the sale on his annual public ethics report or tell Congress he had any stake in Brown's company. He continued to report to Congress that he personally owned the land.
--After getting local officials to rezone the property for a shopping center, Brown's company sold the land in 2004 to other developers and Reid took $1.1 million of the proceeds, nearly tripling the senator's investment. Reid reported it to Congress as a personal land sale. [PAID AFTER HE HAD SOLD THE PROPERTY?!]
The complex dealings allowed Reid to transfer ownership, legal liability and some tax consequences to Brown's company without public knowledge, but still collect a seven-figure payoff nearly three years later.
Reid hung up the phone when questioned about the deal during an AP interview last week.
Senate ethics rules require lawmakers to disclose on their annual ethics report all transactions involving investment properties -- regardless of profit or loss -- and to report any ownership stake in companies.
Kent Cooper, who oversaw government disclosure reports for federal candidates for two decades in the Federal Election Commission, said Reid's failure to report the 2001 sale and his ties to Brown's company violated Senate rules. :naughty
And finally, to add to the hypocrisy:
Harry Reid demands Attorney General Investigation of Foleygate
http://pageoneq.com/news/2006/ag100106.html
I agree with him, though! I want an investigation into Foley's activities as well as Hassert's! Get the pervs, pedophiles, and criminals out of Congress/the Senate! And once THAT investigation is over......
Let the REIDGATE investigation begin! :rock
In the immortal words of your esteemed colleague, Nancy Pelosi, "It is time for a change", Senator Reid! Buh-bye! :2wave: