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lonestar2004
Live to party,work to affordit.


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Corruption claimed in Harry Reid deal
#6159279 - 10/11/06 05:44 PM (17 years, 7 months ago) |
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Corruption claimed in Harry Reid deal
Senate Minority Leader hung up phone when queried about $1 million windfall Posted: October 11, 2006
Sen. Harry Reid, D-Nev. Senate Democratic Leader Harry Reid hung up the phone when questioned by the Associated Press about a $1.1 million windfall on land he had not owned for three years, the wire service is reporting.
Reid collected on the Las Vegas land sale in a deal engineered by a longtime friend and former casino lawyer, Jay Brown, whose name has surfaced in organized crime investigations, the AP said.
According to records and interviews obtained by the AP, the senator 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 the company.
Defending the senator, his aides argued the deal was not disclosed because it was considered a "technical transfer."
No money changed hands, they insisted, and Reid's ownership stake in Brown's company was equal to the value of his land. The senator, they contended, also continued to pay taxes on the land.
The aides also explained there were no documents to prove Reid's stake in the company, because it was an informal agreement between friends.
The AP said Reid bought the undeveloped residential property on the outskirts of Las Vegas for about $400,000 and sold it in 2001 for the same price to Brown's limited liability corporation.
Reid did not disclose the sale on his annual public ethics report or tell Congress he had any stake in Brown's company, the AP notes, but continued to report to Congress that he personally owned the land.
Brown then convinced local officials to rezone the property for a shopping center before his company sold the land in 2004 to other developers.
Reid nearly tripled his investment, taking $1.1 million of the proceeds. He then reported it to Congress as a personal land sale.
The AP said Reid hung up the phone when questioned about the deal during an interview last week.
Reid spokesman Jim Manley told the wire service the 1998 purchase "was a normal business transaction at market prices."
"There were several legal steps associated with the investment during those years that did not alter Senator Reid's actual ownership interest in the land," he said.
But Senate ethics rules require lawmakers to disclose on their annual ethics report all transactions involving investment properties, regardless of profit or loss, the wire service points out, and to report any ownership stake in companies.
A former Federal Election Commission official affirmed Reid's failure to report the sale and his ties to Brown's company violated Senate rules.
"This is very, very clear," said Kent Cooper, who oversaw government disclosure reports for federal candidates for two decades. "Whether you make a profit or a loss you've got to put that transaction down so the public, voters, can see exactly what kind of money is moving to or from a member of Congress.
"It is especially disconcerting when you have a member of the leadership, of either party, not putting in the effort to make sure this is a complete and accurate report," said Cooper. "That says something to other members. It says something to the Ethics Committee."
” No money changed hands, they insisted, and Reid's ownership stake in Brown's company was equal to the value of his land. The senator, they contended, also continued to pay taxes on the land.”
The aides also explained there were no documents to prove Reid's stake in the company, because it was an informal agreement between friends.

http://www.wnd.com/news/article.asp?ARTICLE_ID=52401
ROVE you brilliant Bastard!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
-------------------- America's debt problem is a "sign of leadership failure" We have "reckless fiscal policies" America has a debt problem and a failure of leadership. Americans deserve better Barack Obama
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lonestar2004
Live to party,work to affordit.


Registered: 10/03/04
Posts: 8,978
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Re: Corruption claimed in Harry Reid deal [Re: lonestar2004]
#6159370 - 10/11/06 06:19 PM (17 years, 7 months ago) |
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Fuck..... I just realized that Hillary Clinton will probably be the new Democratic Senate leader when Harry Reid goes to prison.
-------------------- America's debt problem is a "sign of leadership failure" We have "reckless fiscal policies" America has a debt problem and a failure of leadership. Americans deserve better Barack Obama
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Gijith
Daisy Chain Eater

Registered: 12/04/03
Posts: 2,400
Loc: New York
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Re: Corruption claimed in Harry Reid deal [Re: lonestar2004]
#6159462 - 10/11/06 06:59 PM (17 years, 7 months ago) |
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keep dreaming
-------------------- what's with neocons and the word 'ilk'?
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lonestar2004
Live to party,work to affordit.


Registered: 10/03/04
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Re: Corruption claimed in Harry Reid deal [Re: Gijith]
#6159504 - 10/11/06 07:19 PM (17 years, 7 months ago) |
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IMO this is just the Tip of the Iceberg.
Partism aside, this deal looks Shady.
I'm a Senator. A friend donates one-quarter million dollars in my name to a company of which I am a silent oral partner. The company cashes out 3 years later and I get two million, which I use for my campaign. Is this legal?
Lets see what turns up
Edited by lonestar2004 (10/11/06 07:31 PM)
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Gijith
Daisy Chain Eater

Registered: 12/04/03
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Loc: New York
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Re: Corruption claimed in Harry Reid deal [Re: lonestar2004]
#6159602 - 10/11/06 07:54 PM (17 years, 7 months ago) |
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The original AP article paints the whole thing as practically mischievous. There's no mention of any possible legal issues and it says even an IRS investigation is 'unlikely.' Even Limbaugh didn't bother to inflate this beyond anything more than hypocritical when he took to the air today.
If this dude has any shred of diginity, he'll quit. He wanted money. He went about getting it the wrong way. And he lied. His career should be over. But I doubt if it will even go that far.
But yes, let's .
-------------------- what's with neocons and the word 'ilk'?
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Basilides
Servent ofWisdom


Registered: 02/10/06
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Re: Corruption claimed in Harry Reid deal [Re: lonestar2004]
#6159822 - 10/11/06 08:46 PM (17 years, 7 months ago) |
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RRROOOOOVVVEEE!!!!
--------------------
    "Have you found the beginning, then, that you are looking for the end? You see, the end will be where the beginning is. Congratulations to the one who stands at the beginning: that one will know the end and will not taste death."
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lonestar2004
Live to party,work to affordit.


Registered: 10/03/04
Posts: 8,978
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Re: Corruption claimed in Harry Reid deal [Re: Gijith]
#6160198 - 10/11/06 10:06 PM (17 years, 7 months ago) |
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Reid wont resign until he is indicted and on his way to Prison.... Just like U.S. Rep. William Jefferson . The FBI found 90 grand in his freezer and court records allege that he was videotaped taking a $100,000 cash bribe! He is still in Washington Business as Usual....
I wish ALL Rep/Dem resigned and we could just start over!
-------------------- America's debt problem is a "sign of leadership failure" We have "reckless fiscal policies" America has a debt problem and a failure of leadership. Americans deserve better Barack Obama
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Redstorm
Prince of Bugs



Registered: 10/08/02
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Re: Corruption claimed in Harry Reid deal [Re: lonestar2004]
#6160238 - 10/11/06 10:16 PM (17 years, 7 months ago) |
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Corruption in politics? No way!
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lonestar2004
Live to party,work to affordit.


Registered: 10/03/04
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Re: Corruption claimed in Harry Reid deal [Re: Redstorm]
#6160495 - 10/11/06 11:39 PM (17 years, 7 months ago) |
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"I wish ALL Rep/Dem resigned and we could just start over!"
"Americans are the only people naive enough to believe that the way to clean up the brothels is to restock them with virgins every few years.".
-------------------- America's debt problem is a "sign of leadership failure" We have "reckless fiscal policies" America has a debt problem and a failure of leadership. Americans deserve better Barack Obama
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Redstorm
Prince of Bugs



Registered: 10/08/02
Posts: 44,175
Last seen: 6 months, 28 days
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Re: Corruption claimed in Harry Reid deal [Re: lonestar2004]
#6160534 - 10/11/06 11:50 PM (17 years, 7 months ago) |
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it stars saddam
Satan

Registered: 05/19/05
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Re: Corruption claimed in Harry Reid deal [Re: lonestar2004]
#6164395 - 10/12/06 11:43 PM (17 years, 7 months ago) |
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Quote:
lonestar2004 said: "Americans are the only people naive enough to believe that the way to clean up the brothels is to restock them with virgins every few years.".
Who is this quote by?
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lonestar2004
Live to party,work to affordit.


Registered: 10/03/04
Posts: 8,978
Loc: South Texas
Last seen: 13 years, 1 month
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Re: Corruption claimed in Harry Reid deal [Re: it stars saddam]
#6164964 - 10/13/06 08:27 AM (17 years, 7 months ago) |
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Quote:
it stars saddam said:
Quote:
lonestar2004 said: "Americans are the only people naive enough to believe that the way to clean up the brothels is to restock them with virgins every few years.".
Who is this quote by?
H.L. Mencken
"Every normal man must be tempted at times to spit on his hands, hoist the black flag, and begin to slit throats."
—H.L. Mencken
-------------------- America's debt problem is a "sign of leadership failure" We have "reckless fiscal policies" America has a debt problem and a failure of leadership. Americans deserve better Barack Obama
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lonestar2004
Live to party,work to affordit.


Registered: 10/03/04
Posts: 8,978
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Last seen: 13 years, 1 month
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Re: Corruption claimed in Harry Reid deal [Re: Gijith]
#6176451 - 10/16/06 08:25 PM (17 years, 7 months ago) |
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Quote:
Gijith said: keep dreaming
Reid to Reimburse Campaign for Donations http://www.breitbart.com/news/2006/10/16/D8KPUR0G2.html
"Senate Democratic leader Harry Reid has been using campaign donations instead of his personal money to pay Christmas bonuses for the support staff at the Ritz-Carlton where he lives in an upscale condominium. Federal election law bars candidates from converting political donations for personal use." Reid's office said the listing as salary was a "clerical error."
Reid also announced he was amending his ethics reports to Congress to more fully account for a Las Vegas land deal, He said the amended reports would also divulge two other smaller land deals he had failed to report to Congress.
He said "I believe in ensuring all facts come to light."
Drip Drip Drip
-------------------- America's debt problem is a "sign of leadership failure" We have "reckless fiscal policies" America has a debt problem and a failure of leadership. Americans deserve better Barack Obama
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