Posted on 02/09/2005 9:28:35 AM PST by NormsRevenge
In recent weeks, two of the Sacramento region's most prominent political figures have found themselves facing public scrutiny over their private investments with the region's largest developer, the Tsakopoulos family.
First, Sacramento County Sheriff Lou Blanas retreated from his strange role as cheerleader for a plan to finance a new basketball arena by rezoning land, including some owned by the Tsakopoulos family, after press reports that his wife has been a partner with the family in land ventures elsewhere. And now Doris Matsui, wife of the late Rep. Robert Matsui and a candidate to succeed him in Congress, has announced that she has divested herself of land ventures with the same family, including land that may get rezoned as part of this possible Kings deal.
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Based on the scant public information that laws require to be released, it is impossible to tell whether Doris Matsui bought into two land ventures with Tsakopoulos, one in Natomas, another in El Dorado County, at a market price or at a deep discount. Nor is it apparent how the value of her partnership was determined when she sold it.
What is clear is that the average Sacramentan is unlikely to be let in on a deal like this. This is a special club, one that's just too clubby.
Federal records show that in 1993, Matsui invested in Valley View, a Tsakopoulos project in El Dorado County. She became a partner with an investment somewhere between $15,001 and $50,000. (The law doesn't require any more specific details, although voters might well want to know.) She sold it this year for between $100,001 and $1 million. At the least, she doubled her money. At the most, she increased it 60-fold. Which is it? She hasn't said.
(Excerpt) Read more at sacbee.com ...
Democrats are experts in manipulating the political system to the benefit of themselves and their friends. It's something we need to fully understand if we're going to combat it.
At least, this "land deal" has more credibility than "cattle futures".
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