Posted on 04/21/2009 4:51:49 AM PDT by COUNTrecount
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.
Mrs. Feinstein's intervention on behalf of the Federal Deposit Insurance Corp. was unusual: the California Democrat isn't a member of the Senate Committee on Banking, Housing and Urban Affairs with jurisdiction over FDIC; and the agency is supposed to operate from money it raises from bank-paid insurance payments - not direct federal dollars.
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.
About the same time of the contract award, Mr. Blum's private investment firm reported to the Securities and Exchange Commission that it and related affiliates had purchased more than 10 million new shares in CBRE. The shares were purchased for the going price of $3.77; CBRE's stock closed Monday at $5.14.
(Excerpt) Read more at washingtontimes.com ...
She’ll get away with it and we’ll let her. We just sit and bitch and do nothing. America is down the tubes.
This is Feinstein's second strike. She already had to step down from a military sub-committee because of her husband's business getting money from her votes.
It's time for Republicans to make an issue of this. Republicans have been castigated for Democrats for less, and for first offenses.
This is #2 for Feinstein.
-PJ
I bet DiFi and hubby share some freaky pillow talk over all the 1-2 punch shenanigans they have manipulated the taxpayers out of...that they go uninvestigated is a complete travesty of justice! Organized crime in the halls of DC. Weep for America!
Where is the OUTRAGE?
I heard yesterday that the Fed.gov is once again promoting SubPrime Crime! No money down, no credit check, interest-only loans for the first 10 years to minorities, etc. Anyone able to confirm this?
A real shocker.
This is just the stuff that gets flagged. They, the politicans, know that this stuff is going to be looked at ...just imagine if you will what doesn’t get caught.
I suspect this kind of stuff is just the handrails on the bridge that is sacrificed to keep the really good and big stuff from being found out.
This was only $25 million of almost $800 billion. Only 0.0031% of the total. This is the equivalent of $3.12 out of $100,000. Does this give any perspective?
Just way too much money floating around. Isn’t it a little odd and shouldn’t it cause some questions to be asked when politicans are richer than their salaries and mostly leave office with more money than when they entered?
Congresscrooks in action.
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