Posted on 10/13/2006 7:12:03 AM PDT by Dems_R_Losers
A lucrative land deal benefiting U.S. Senate minority leader Harry Reid (D., Nev.) deserves full scrutiny by the Senate ethics committee.
In 1998, Reid purchased undeveloped residential property on the outskirts of Las Vegas for $400,000. He bought one lot outright, and a second lot with a partner, Jay Brown. In 2001, Reid sold the land for the same price to a corporation created by Brown. Reid retained an ownership stake in the corporation and continued to pay taxes on the property. There was no written agreement; Brown told the Associated Press that the two had been friends for 35 years and didn't need one.
So the Senate Democratic leader engaged in a seven-figure handshake and didn't feel the need to disclose all the details. Experts on Senate ethics rules say Reid should have disclosed the sale in 2001 on his annual ethics report, and informed Congress of his part-ownership in Brown's corporation. Reid didn't.
After the land was rezoned for a shopping center, the corporation sold it in 2004. Reid received $1.1 million in the sale, turning a neat profit of nearly $700,000 in six years.
While now insisting he did nothing wrong, Reid is also offering to make a "technical change" to his earlier ethics reports if the ethics committee so desires. Simply giving the Democratic leader a mulligan is hardly the way to handle this case. When the Senate debated ethics reforms earlier this year, Reid was out in front to demand the toughest of standards from lawmakers.
"Americans have been shocked and even disgusted by revelations of corruption in our current system by Republican lobbyists, senior Bush Administration officials, members of Congress, and former congressional staff," Reid said in March. "The scandals have shown that some outsiders and insiders believed they could act with impunity."
That's how this case looks, too. Unless Reid comes up with a better explanation for this lack of disclosure, Democrats should not keep him as their leader in the new Congress in 2007.
Tom Hagen leaked it. The Corleone family has friends in the press.
Yep. Dick Morris said it on O'Reilly. I caught it because I've always wondered what he was after. Burglar stole Clinton's so called "Plan for Terror" right before Clinton was to testify before the 9/11 commission. According to Burglar, Clinton needed it "simply for review because he forgot a lot of it."
The question is - Why would Burglar have to steal it by stuffing it into his pants? Why not just check it out of the archives? What did Burglar put back in? A rewrite? An new and improved version?
Didn't need one?
I think the Senate Ethics Committee will disagree!
This version of the story still seems quite watered down; all of the family ties and re-zoning board conflicts of interest and their legal troubles were left out of the article. The appeal to the zoning board, in which Reid's name was intentionally dropped for apparent influence purposes, was left out. This is a 'soft porn' version of the real deal. Omission before your eyes.
Inspite of all of the naysayers here, IT BEGINS!
LLS
And there you have it!!!
Didn't catch the name, but it was someone who worked for Reid and got out because he thought Reid engaged in unethical behavior. That would make it an ex employee who worked for democrats.
"A man has got to know his limitations"- Dirty Harry..
Wonder who else the Mafia OWNS in Washington D.C...
You don't hear much about the Mafia these days..
Used to be; they(the Mafia), was satisfied with being funded by the transportation department.. years ago... (roads and waste disposal).. Evidently they have expanded their grip on federal "protection money".. Amazing on how socialism is exactly the Mafias protection racket expanded to a national scale.. Federal taxes protect you from bad things happening to you from the federal government..
Socialism is indeed the Mafias protection racket on a federal scale.. Must be why America becomeing MORE socialist not LESS socialist.. by BOTH parties.
Dirty Harry Reid is the tip of an Iceberg.. I think.. Retirement perks of federal office holders is fiscally obscene.. Even halved it would be several times what it should be.. Federal office holders should get NOTHING from thier government "service".. else it was not a "service"..
Same with State and Local "civil service"..
They actually named the whistleblower??? Boy, I bet HE can't go to Vegas safely!!
LOL! Love you!!
Maybe they didn't give the name and that's why I didn't catch it. I caught the story, but thought I may have missed the name by not listening soon enough.
Maybe they just didn't say his name at all now that you mention it.
and that's what allowed Reid and his relations to influence the zoning change on the property seemingly without any COI 9since he supposidely did not own it and could not benefit finnancially from a zoning change). Without the zoning change any profits would be miniscule and slow to accumulate, if at all.
I really doubt if they mentioned his name. He would have a target on his back.
Wonder how many OTHER Zoning Changes have been made by Reid that has helped his family and Mafia friends!!
....That is a million dollar gift that Reid did not report........
Now that Dingy Harry has all this extra cash, he should seriously talk to Her Hineyass about how to play the market in cattle futures!
That's the only part of your post I disagree with. But maybe you know more about this stuff than I do. My CPA created an LLC for me several years ago, so I have some rudimentary familiarity with the LLC structure, and the relationship between the individuals and the LLC. From that understanding, I concluded that the gifting is going from the mob lawyer to Reid. But I could be wrong, and you might have superior knowledge of these matters.
If the IRS gets involved in this, I think they might question the lack of documentation joining Reid to the LLC.
Meanwhile, back in the Senate archives, he owns land that just magically became valuable, so he sold it. His Senate report is squeaky clean. It was just a simple sale. He's a perfect political angel. Why, he's as white as snow!
Tender, juicy, medium-rare political prime rib, served by Harry himself. Wonder what dessert will be.
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