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 ...
Nope just a vengeful staffer.
I hate to explode popular mythology but the vaunted files are as irrelevant as Karl Rove's Weather Machine. Besides they only went to M.
Where did Patrick Lane's money come from to pay the Reids back their initial $400,000.00 investment?
Why would it matter that Hitlery never traded commodities before, isn't she supposed to be the smartest person who ever lived? (massive, incredible sarcasm alert)
"Nope just a vengeful staffer."
No Joos? How about the gay mafia? Throw me a freakin bone. :)
"So Reid is dirty ........ well slap my grandma."
Leave your grandma alone and kick Nancy Pelosi int the swamp.
I can't forget that the dirty little ding bat was ready to drain a swamp.
She is, in my opinion, as dirty as they get.
He paid property tax, income? Turnging land into stock as a "transfer" would provide a means to obfuscate the cost basis on the investment. Laundering it in essence.
So are we saying that he received his $400,000.00 investment back when he sold the property to the LLC and then got an additional 1.1 million dollars? That means he grossed 1.5 million dollars...
All without any documents showing his interest in the LLC...
If this lawyer was such an high-powered lawyer, he would have known how much of a problem this is. No ethical lawyer worth his salt even engages in business dealings with his clients.
Those that are foolish enough to do that must not do so without a full written disclosure of the conflicts of interests that may arise. They must also advise their clients to seek independent advice concerning the transaction. Did the lawyer tell Reid to do this? If so, did he? Who was the independent attorney advising Reid?
Most states have lawyers' ethics rules that prohibit business dealings with clients unless very strict criteria are followed...one of which is that these arrangments needed to be in writing!
This lawyer, for starters, should be brought up on an ethics complaint.
Mr. Ried also ahd ethical rules to follow... Is he going to claim that he is so uninformed as a representative of the people taht he did not know that this was unethical? That alone should get him removed.
In breaking news, pot found to be black after calling kettle same.
Yes. He did not report the sale in his Senate reports. Three years later, he makes a cool million claiming he just sold it this year. He lied on his Senate reports for three years.
wow.
What do ya expect from the guy. He's just another Vegas scum bag
Wow is right --- a later article says he's not taking phone calls about it...lol.
Just cause its AP...does not mean it will run in papers.
AP listed it as Exclusive. Might just be there way of only keeping it on their site.
I was hoping Brit Hume would menton it...
Well I don't suppose there's much to be gained by us locking horns over something about which we pretty much agree.
These corrupt congress critters have every manner of legal beagle at their disposal and these sorts of bribes are buried way deep so that it's an ordeal for investigators to sift through and even if investigators bother, the public's eyes start going back in its collective head from the confusion.
They bank on this, the corrupt ones.
I do think that the bit about an "informal" agreement with that LLC is very damning and this is the part the public will understand. Perhaps such informal partnerships are legal, I don't know. But it's not the way the American public perceives such big business deals are made and THIS factoid will resonate.
As for the property tax angle, by me the fact that Reid paid some of the property tax is further proof that he was involved with that LLC, although, hey, it was an "informal partnership" and I suppose that will be the defense.
That Reid didn't report this properly per Senate rules, well that will probably resonate only slightly on the American public. And then only if the pubbies keep beating the band wagon on it. The Dems have it all over the pubbies when it comes to manipulating sound and sight bytes.
What it looks to me like the pubbies are doing now is throwing down a gauntlet. The Dems arranged that Foley attack and for a moment forget how the emails and IM's got to be public knowledge, the bottom line is that the pubs lost a seat in congress most likely. That was damn costly.
Now we got Shays mentioning Chappaquidick and the silly notion that congress should investigate Sandy Burgler's papers from three years ago. Hey, the pubs got it right for the time being. They need to do what the Dems and drive-by media do. Throw the damning sound bytes out there and get the hype going.
That's all the pubs are doing and right now, I think it's just a challenge. In the end the good ole boys club of congress needs to keep their dirty laundry private. Throwing around sound bytes tends to make the American public tune it all out, at best, hate the whole lot of them at worst.
BTW, to read a good Foley analysis, I say ever so modestly, check out my post on those x-rated IM's. Warning, my Blog post itself it X-rated but I'd argue I'm right on the money on how this all came down.
'Rat CULTURE OF CORRUPTION!!!
Nail this pig and his oinking pals...... :^)
Quick, someone tell Nancy Pelosi she can just gag on her partisan smears against Republicans.
I can see that happening. The really disgusting thing is that he actually thought he could get away with it.
Nothing on Foxnews yet.
LLS
I'm not holding my breath while waiting for MSM to give this proper attention, are you?
The property really wasn't his, but if he claims it now, he can cover up that little $1 million dollar "personal" donation he received for clearing the way for the contractor.
No one was suppose to notice that tiny little million dollar pay off. It was supposed to get buried in the fraudulent sale of "his" property. It was a sneaky way to make some fast money under the table.
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