Posted on 10/11/2006 11:21:50 AM PDT by Prost1
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.
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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.
The Nevada Democrat's deal was engineered by Jay Brown, a longtime friend and former casino lawyer whose name surfaced in a major political bribery trial this summer and in other prior organized crime investigations. He's never been charged with wrongdoing except for a 1981 federal securities complaint that was settled out of court.
(Excerpt) Read more at news.yahoo.com ...
Reid should step down pending an investigation. Sort of like what Delay did.
PIAPS is running for President. She does not want to be minority leader.
I think this is coming from the GOP. If it has RAT parentage, my bet is on Durbin or Dodd, both of whom covet the leader position.
Wow!!!!! this is such a surprise...another corrupt politician has been outed.
If she doesn't come out defending him completely then we'll know who was behind the leak.
You took the words right from my keyboard.
And McLaim sticking the NK thing up Hillary's ass the way that he did was priceless.
Already off the front pages. Aircraft just crashed into a building in New York.
Oh, Harry, say it ain't so!
No doubt -- any ideas on how we can do that?
BTTT
The GOP senators need to put the heat on him.
LOL! That is SWEET! I get tired of the same old graphics, thanks for the updated version!
So, basically, Reid invested $400k in a property in 1998, donated it to a partnership in 2001, the partnership got the land rezoned, and in 2004, the property was sold for an amount that earned Reid $1.1 million. That is not that unusual, folks. Properties can double in 6 years, and zoning changes can add to the value, especially if the architectural plans are already completed, and the project just needs to be built.
This deal is worthy of further investigation, but based on what is known, Reid only gets a slap on the wrist for failing to report properly, not jail time for corruptly accepting unearned monies.
No mention in the article on whether the $1.1 million sale was properly reported to the IRS as a $700,000 capital gain (or whether Reid paid Bush's reduced 15 percent capital gains tax rate on it instead of the 20 percent that Reid voted for). More facts may change things, obviously, but don't get too excited yet.
If this doesn't work (which it will) , our next October surprise will be.... bin laden found in a cave with a large stash of WMD's and wall maps of Washington DC and New York.
Pelosi will probably be there giving him a lap dance.
http://reid.senate.gov/contact/offices.cfm
Contact
I maintain three Nevada offices, in Las Vegas, Reno, and Carson City. Please locate the office closest to you. If you need to contact me directly, please go here.
Carson City
600 East William Street, #302
Carson City, NV 89701
Phone: 775-882-7343 / Fax: 775-883-1980
Las Vegas
Lloyd D. George Building
333 Las Vegas Boulevard South, Suite 8016
Las Vegas, NV 89101
Phone: 702-388-5020 / Fax: 702-388-5030
Reno
Bruce R. Thompson Courthouse and Federal Building
400 South Virginia Street, Suite 902
Reno, NV 89501
Phone: 775-686-5750 / Fax: 775-686-5757
Rural Nevada Outreach Contact
Susan Lisagor
Phone: 775-686-5750 / Fax: 775-686-5757
Washington
528 Hart Senate Office Building
Washington, DC 20510
Phone: 202-224-3542 / Fax: 202-224-7327
Toll Free for Nevadans: 1-866-SEN-REID (736-7343) -Restricted to calls originating from area codes 775 and 702
Reid Newsroom
(202) 224-9521
I think John Cornyn will, not so sure about Kay Bailey Hutchison. I've had the pleasure of meeting of my congressman Kevin Brady three times -- he seems to have the stomach to go to battle with Reid.
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