Apr 21 2009
Dem Lawmakers Line Their Pockets With Taxpayer Bailout
Well, I knew it would break sooner or later because the incestuous coziness of politicians to industry, and today is the day for the second domino to fall (the first domino was Senator Chris Dodd (D)):
Feinstein sought $25 billion for agency that awarded contract to spouse
On the day the new Congress convened this year, Sen. Dianne Feinstein introduced legislation to route $25 billion in taxpayer money to a government agency that had just awarded her husband’s real estate firm a lucrative contract to sell foreclosed properties at compensation rates higher than the industry norms.
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Documents reviewed by The Washington Times show Mrs. Feinstein first offered Oct. 30 to help the FDIC secure money for its effort to stem the rise of home foreclosures. Her letter was sent just days before the agency determined that CB Richard Ellis Group (CBRE) – the commercial real estate firm that her husband Richard Blum heads as board chairman – had won the competitive bidding for a contract to sell foreclosed properties that FDIC had inherited from failed banks.
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Senate ethics rules state that members must avoid conflicts of interest as well as “even the appearance of a conflict of interest.” Some ethics analysts question whether Mrs. Feinstein ran afoul of the latter provision, creating the appearance that she was rewarding the agency that had just hired her husband’s firm.
“This clearly gives the appearance of a conflict of interest,” said Kent Cooper, a former federal regulator who specializes in government ethics and disclosures. “To maintain the people’s trust in government, it is incumbent on a legislator to take the extra steps necessary to ensure that when she introduces any legislation that it does not cause people to question her motives or the business activities of her spouse.”
Given the unusually high rate of return the Fienstein household will reap from the contract and the bailout money it is clear she ran afoul of a lot more than an ‘appearance’. This puts the wimpy Obama belt tighten joke in full perspective:
Real estate specialists also question the government’s generosity in the CBRE contract.
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“From everything I know about it, it is a very sweet deal and went to somebody who is less than qualified in dealing with foreclosed residential properties. Their expertise is in commercial real estate,” said Cynthia Kenner, a Colorado real estate agent who specializes in selling bank-owned residential properties and last year helped sell more than 600 foreclosed properties.
“There are companies that are more experienced in selling such properties than CB Richard Ellis,” she added.
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In November, the FDIC signed a contract with CBRE that could be worth tens of millions of dollars or more at a time when real estate firms are scrambling for business in the distressed economy.
There should be a full and complete investigation. And the tax payers should be made aware of how much personal gain Fienstein-Blum will reap from this ‘special’ arrangement. Especially given the fact the government is not producing any jobs for the American taxpayers, and probably won’t for months to come. Clearly someone is getting their share now.
Pitchforks! Tar! Feathers! Fence Rails!
AJ, this isn’t the first time that Feinstein has been caught with her hand in that cookie jar.
This should provide good material for repub campaign commercials.
Alert1201, a Republican doesn’t stand a chance for Senate unless the Governator wants to take a stab at it and he isn’t *really* a Republican.
crosspatch,
was not thinking about the Cal election specifically, but the 2010 elections in general. The dems curruption is giving repubs plenty of ammo, if they can keep their own hands clean and have the guts to use it and not ”McCain out” and be nice.
Two prospects I doubt will happen.
I think your right about the Cal election. Nobody will remove DF, even the Governator will have a hard time beating her, and if he does what difference will it make.
As far as California Democrats go, I am actually fine with leaving Feinstein right where she is. She is a lot less wacko than what might be elected if she left office. She and I agree on many things. For example, when a huge area of desert BLM land was slated to become a giant solar energy farm, she said “wait a minute” that is going to destroy a huge amount of desert habitat.
Being quite fond of desert camping, I found agreement in her position. I don’t want to see a beautiful, quite, fragile landscape industrialized and destroyed. That was only a few weeks ago and the liberals went nuts that she would oppose it. Maybe that is why we are now getting reportage of this now. Maybe they are trying to shut her up, too.
I like desert views and camping too, but think about all those new window washing jobs that we will need to clean the desert dust off those solar panels as well as how it will boost the squeegee business.
That’s progress; that’s stimulus!
AJ, Are you going to post on Mr. Gibbs’ press conference today that opened the door for President George W. Bush to be investigated/prosecuted for waterboarding a.k.a. to global socialists as “torture”?
I am OUTRAGED. This is despicable and damaging to this country.
And let me tell you one thing: If this administration EVEN THINKS about following through with this…
There is not one surprise in this story. It’s ‘expected’ behavior for democrats. If this kind of information came out on republicans there would be screeching from the highest heavens, the formerly MSM would be berserk. You won’t hear a peep. As I said,, it’s not news to them, it’s expected behavior.
In fact they feel as if they ‘deserve it’, they’ve worked hard to screw the country, they’re entitled to the spoils.
ALERT
The dems curruption is giving repubs plenty of ammo, if they can keep their own hands clean and have the guts to use it and not â€McCain out†and be nice.
Two prospects I doubt will happen.
sorry I disagree. there’s no ammo there. calling a crook a crook doesn’t hurt them, everybody already knew they were crooks.
just look at the Admin’s appointments, so far I’m not sure anyone has been appointed that has been ‘clean’ and everyone just says, ‘so what else is new?’
If a repub tries to use it, they will be the ones that end up incriminated.
Business as usual, so don’t get too excited about the explosiveness of this ammo, I’m afraid it’s blanks or duds.
D Feinstein. I can’t think about her without remembering one of the few times she appeared on FOX before the Iraq war. When pinned by the reporter, she said she thought the UN (swear to God) should decide. Dems sent out another big boy, Carl Levin and FOX pinned his ears with the same question. It almost killed him to answer that but yep, he also thought it should be the UN as the Decider.
About the UN…………….watched an interview that had both Rove and Bolton a few days back. Their subject was what I call the Internationals. They were sending a very very strong signal. Trouble. Both. I say finally. My wars of MSM, Internationals and terrorists are finally being waged.
The reason Feinstein will not be in any real trouble is because of MSM. They elected a President. When you have the power to elect a President, you choose the Silence.
Obama has decided we do not need to WATCH his fumbles and what he is really doing behind the scenes. We do not need to WATCH his Dem crooks. Didn’t anyone get the memo? The MSM got their marching orders today. The ‘news’ is going to be Commissions, Hearings, etc about Bush the Torturer. Yep. The MSM will say ‘watch this folks’. MSM has to be taken down before the American people have a chance of saving this country.
I hold John McCain responsible. He allowed and abetted this horror. He was the only one that had the power to stop the labeling of Bush as a Torturer and the USA as torturers. I hope he feels better being on TV this week repeating it. Don’t cross John. He ego got Bush and Palin.
AJ, this is worth keeping an eye on
Well said wise owl. Which is why I look at obama as a sham and a fraud. As for McCain, he comes off more like a rape victim than a war hero, but that is all part of the drama put on for the unwashed masses. We need new blood and probably a new party for the responsible Americans.
I wonder if Chris Matthews got a a tingle up his leg about that story.
And what is wrong with the people of California electing the wives of multi millionaire businessmen — Feinstein, Pelosi, Harmon??? Has the LSD not worn off yet?? Take responsibility for yourselves and stop heaping this crap on the rest of the country. Can we sell it back to Mexico??
Red
sorry I disagree. there’s no ammo there. calling a crook a crook doesn’t hurt them, everybody already knew they were crooks.
just look at the Admin’s appointments, so far I’m not sure anyone has been appointed that has been ‘clean’ and everyone just says, ’so what else is new?’
If a repub tries to use it, they will be the ones that end up incriminated.
Business as usual, so don’t get too excited about the explosiveness of this ammo, I’m afraid it’s blanks or duds.
In response to this, I think you are basically correct, that is why I said the prospects were unlikely to happen.
But I was wondering how many everyday people who do not spend time with their heads in blogs like this one or tuned to talk radio really know about the dem’s and Obama’s scandals and incompetence. The hoi polloi who get their info from the Main Stream Mush really do not know much. My hope is that the rebups or some independent group can get the info out to the masses via campaign ads to let people know what is happening.
I wonder how the 2008 campaign would have been different had McCain spend some $$ blasting the air waves with commercials demonstrating the dems complicity in the freddy/fanny mess after having been warned by republicans of the dangers. Even McCain had warned them and written letters predicting the disastrous results of what was transpiring before our eyes. Instead of taking the heaping steaming pile of @#*& that the dems had created an putting it on their laps McCain was either castigating other repubs or trying to reach across the aisle to the dems.
My hope is that the repubs will not make this same mistake in 2010. Will they have the ammo – yes; will they have the will – I doubt it. But lets not let the dems corner the market on hope.