MONEY HONEY
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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.
Probably had a million stamps left over from the House Post Office? In some ways it will be sad to see Harry go, he was even more inept (and even more croked)than Tom Daschle.
YOU HAVEN'T BEEN LISTENING!
If you were convincing a lot Democrats in Dem districts of this, you'd have a point, but I'll bet you're failing in that department. You're just telling Republicans to give the government to Pelosi and Howard Dean while we get told to shut up.
Oh what a tangled web we weave.........it's so dang hard to keep those lies filed correctly.
The problem here is that this one transaction is not documented.
There is probably another undocumented transaction that offsets the 400k transfer of the original purhase.
There is no federal form to file bribe money for re-zone efforts, so that may be the offsetting transaction.
Phony Reid looks like a frustrated minister. Marc Levin of WABC Radio calls him "Harry the Body Reid". I can't stand looking at him. He claims to be "pro life" but rolls over for the NARAL crowd. He also said "We killed the Patriot Act". The real killing was on his dirty land deal.
Brit is usually careful. He doesn't hesitate to air controversial stories, but he usually takes the time to do his homework first. You might see it next week.
"Harry Reid must be REALLY DIRTY!!!
Oh yeah!
Perfect!
And I heard about this story mentioned HOW MANY TIMES on Chris Mathews's show today?!!,,,,,,,,,,,(insert sound of crickets).............
Quite a pair--Leaky Leahy and Dingy Harry. Two prominent Rat loons...
South Florida's already got the graphic
It's terrific
Just the right touch
Lol, you move fast, except to the store!!
So what's illegal about selling land and making a profit?
Reid must resign.
Heh heh. You haven't read very deep....
Well I'd love for him to go down. Explain to me what he did wrong. I don't see anything here yet except wishful thinking.
Lets do it. Swift boats to the rescue.
Haven't heard a word about this from ABC.
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