Saturday, October 14, 2006

Minority Leader Reid Must Resign Amid Land Scandal

Here is a link to the Strata-Sphere blog that exposes Senate Minority Leader Harry Reid who profited by using his influence on several land deals.

It appears Reid "made" $1.1 million on a land deal he had not personally owned for three years. Here is the Washington Post story on that.

Here is the key qoute from the story.

_The deal began in 1998 when Reid bought undeveloped residential property on Las Vegas' booming outskirts for about $400,000. Reid bought one lot outright, and a second parcel jointly with Brown. One of the sellers was a developer who was benefiting from a government land swap that Reid supported. The seller never talked to Reid.

_In 2001, Reid sold the land for the same price to a limited liability corporation created by Brown. The senator didn't disclose the sale on his annual public ethics report or tell Congress he had any stake in Brown's company. He continued to report to Congress that he personally owned the land.

_After getting local officials to rezone the property for a shopping center, Brown's company sold the land in 2004 to other developers and Reid took $1.1 million of the proceeds, nearly tripling the senator's investment. Reid reported it to Congress as a personal land sale.
The complex dealings allowed Reid to transfer ownership, legal liability and some tax consequences to Brown's company without public knowledge, but still collect the payoff nearly three years later.

Reid hung up the phone when questioned about the deal during an AP interview last week.

I would like to see some outrage about this abuse of power from the liberals and the media. I would also like to see Reid step down.

No comments:

Post a Comment