Reid's land deal free of scandal; GOP on witch hunt - "He is one of the most ethical men I know."

The Atlanta Journal-Constitution ^ | Published on: 10/17/06 | MAX CLELAND

[JIM O]

As I understand it Reid transfered his asset with a book value of $400,000 to an entity in partnership with JAY H; BROWN.

Does anyone know what is being reported as to what assets this entity had at that time? I assume Brown must have contributed something into the entity prior to the donation by Reid. I also assume Brown must have paid for the permitting of the land that Reid previously owned.

Does anyone know if the partnership still exists and if it currently has assets. I am not an accountant but I assume it must have had preexisting assets if Reid acquired an interest equal to the value of the land and I assume this was done as a tax free exchange for both parties which would mean assets still exist.

[BigDaddyTX]

Hey Max, want a beer? Here... catch! Oh crap!!!!!

[Starboard]

Potomic Fever - not a legend, FACT!

And there is no cure for the afflicted.

[webboy45]

It looks as if Brown's contribution was to pressure the city council for the zoning change, something Reid couldn't personally do. Of course, Brown, in turn, used Reid's name to pressure the council. This transaction appears to be Reid's way of trying to disguise the use of his office to get gain, which is a criminal act.

[jmcenanly]

Reid has been a friend and mentor to me for almost a decade. He is one of the most ethical men I know.

A man can be judged by the company he keeps. If Harry Reid is the most ethical men that Mr. Cleland knows, he is running with a very bad crowd.

[FastCoyote]

As some of you may guess, I have a lot of background insider info that goes beyond what is even said above. If you search my posts, you'll find all sorts of interesting tidbits. We are still at "tip of the iceberg" phase.

The Patrick Lane land deal is the AP story from Solomon and Kathleen Hennessey, they deserve big Kudos. The Coyote Springs info is developed by Chuck Neubauer at the LA Times, kudos there too.

For really deep info, go here:
http://gsting.blogspot.com

The blog doesn't even get to Reid until the later chapters (you have to go to later chapters before it shows up in the blogspot menu). That's because there is a much bigger scandal and that blog starts at the far end and works back to Dirty Harry, but that's why this thing won't go away. The Harry Reid scandal will eventually link to the GSting scandal which has already sent corrupt Commissioners to jail in Vegas and San Diego. That's why when the slow drip is done, Harry Reid is in BIG trouble.

In fact, for the GSting scandal to not already be linked to Harry, it is likely there was an FBI coverup internally to "not go there". You know the coverup is always even worse than the actual crime.

I will likely do a Freeper Exclusive report the next day or so to tie everything together. There is a ton of material not being covered in a coherent way by the media. Bitt tells me I need to start a ping list. Let me know if anyone wants on.

[JIM O]

I agree with you however if Reid's asset was contributed and the entity had no assets than it was a taxable event to Brown. I suspect the entity did have assets and either sold them off separately (causing more reportable income for Reid and Brown ) or continues to have assets. The later would mean Reid's take is even greater than the reported gain.

If the entity did have assets equal to what Reid termed as proportional to his interests and then Brown contributed his permitting expertise for free I suspect Harry recieved benifits he did not pay for.

[melancholy]

Thanks for taking the time, Charles. You made it crystal clear.

[Suzy Quzy]

In the Democrat circles that Max Cleland runs in, it's POSSIBLE that Harry Reid IS the Most Ethical person he knows!!!

[kevkrom]

When they have to wheel out Cleland, you know they're grasping for straws.

[AdmSmith]

I know what a REIT is = Real Estate Investment Trust,

and now I know what a REID is = Real Estate Investment Dump

[nuconvert]

""He is one of the most ethical men I know.",

He's been endorse by MAX CLELAND.
I'm convinced now. Close the book on this one. /s

[1035rep]

Harry Reid should resign!

[Condor51]

***As I understand it Reid transfered his asset with a book value of $400,000 to an entity in partnership with JAY H; BROWN.***

That is IMO the murky part. As I first heard it on Fox, Dingy Harry "sold" the land to Brown - period. If so, how then did he warrant ANY profit for a sale four years later on land he didn't own? But then, that 'unwritten partnership' thing came up.

But one thing is a fact, the rezoning didn't get approved on appeal until Harry's name was 'dropped'. Heard that last Sat morning on Fox. And without the rezoning, no money was to be made.

The whole thing stinks. And its more than his disclosure forms. Influence peddling with the board occurred (or maybe 'extortion' - approve it for Harry "or else").