Posted on 01/29/2007 9:39:52 PM PST by Kitten Festival
This story will be on conservative web sites for few days, then forgotten.
Go here for a lot of the background info that goes way beyond the land deals.
http://gsting.blogspot.com
Never happen. There is not a single vertebrate among the Republicans in Washington to call him out.
This wont go anywhere.
This wont go anywhere.
Dems Should Dump Ethnically Challenged Harry Reid
What? No affirmative action for the Democrat caucus???
Actually, he is more ethical than most of them. He is probably the most ethical of the reliable liberals in the U.S. Senate.
Sort of like the most chaste employee in a whorehouse.
The piano player?
In his way, as a poster mouse of impressive improprieties and duplicity, Reid is a gift to the Republicans
They should, but they won't. Which will allow the GOP to make an issue of him everytime the Democrats try that Politics of Corruption crap.
This is really a lot bigger than Dingy just getting a sweetheart real estate deal in return for doing a favor. Instead, it apparently crosses over into being a potentially serious crime because Dingy acquired the property from a pension fund. All IRS qualified pension funds are regulated by the Department of Labor and the IRS. When an employer establishes a "qualified" pension plan the money must be paid into a separate trust, exempt from the claims of the employer's creditors, that's legally required to be administered by the employer in the sole interest of the covered employees, who are its beneficiaries. Thus, the employer becomes a fiduciary who's legally required to act solely on behalf of the employee beneficiaries of the plan in admininstgerintg the plan's assets. If the employer embezzles money from the plan either directly or by selling its assets for far less than their fair market value, he violates that fiduciary duty and is guilty of a serious felony. If plan assets are sold in a sweetheart deal for far less than market value, it's likely that both the selling employer/fiduciary and the purchaser could be successfully prosecuted for conspiring to embezzle the plan's assets, an even more serious felony.
It looks like Dingy conspired with the seller of this property to perpetrate just such a felony so the seller could get Dingy to support favorable legislation.
Dingy acquired the land for $10,000, about $50,000 less than it was appraised for, meaning the plan administrator probably violated his fiduciary duties to the plan's participants by giving away their $50,000 realty interest as a likely bribe to Dingy. Thus, we have Dingy and the seller of the land in a probable conspiracy to embezzle $50,000 of the plan's assets and a second probable conspiracy to use those assets as a bribe.
Now I'm taking bets on how far the Bush administration will go to investigate and prosecute this vile business. How many of you, along with me, suspect that this will just go under the rug, along with all the other DemonRat crimes Bush has deliberately refused to prosecute? Worst of all, by consistently refusing to prosecute major, probable crimes like this, he's depriving us of one of the best grounds we have for retaining the White House and regaining Congress in 2008. It's disgusting.
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