Merged Threads From Top Down Tough On Ethics? Reid Caught ?

Discussion in 'Politics' started by Annie, Jan 29, 2007.

  1. Annie

    Annie Diamond Member

    Nov 22, 2003
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    I can't wait until we start reading about those whose names most of us won't recognize:

    First Pelosi and tuna, now this:,5893951.story?page=1&coll=la-home-headlines

  2. red states rule

    red states rule Senior Member

    May 30, 2006
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    and I thought Dems ran on the "Republican culture of corruption" and promised the "most ethical Congress in history"

    A deal in the desert for Sen. Reid?
    A bill he wrote could have affected the friend who sold the land.
    By Chuck Neubauer and Tom Hamburger, Times Staff Writers
    January 28, 2007

    BULLHEAD CITY, ARIZ. — It's hard to buy undeveloped land in booming northern Arizona for $166 an acre. But now-Senate Majority Leader Harry Reid effectively did just that when a longtime friend decided to sell property owned by the employee pension fund that he controlled.

    In 2002, Reid (D-Nev.) paid $10,000 to a pension fund controlled by Clair Haycock, a Las Vegas lubricants distributor and his friend for 50 years. The payment gave the senator full control of a 160-acre parcel in Bullhead City that Reid and the pension fund had jointly owned. Reid's price for the equivalent of 60 acres of undeveloped desert was less than one-tenth of the value the assessor placed on it at the time.

    Six months after the deal closed, Reid introduced legislation to address the plight of lubricants dealers who had their supplies disrupted by the decisions of big oil companies. It was an issue the Haycock family had brought to Reid's attention in 1994, according to a source familiar with the events.

    If Reid were to sell the property for any of the various estimates of its value, his gain on the $10,000 investment could range from $50,000 to $290,000.,0,5893951.story?coll=la-home-headlines

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