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Reid Land Deal Under Scrutiny (story from 2006 - is Reid, rather than Romney, the tax cheat?)
washpost ^ | orig 2006 | Birnbaum

Posted on 08/05/2012 12:14:44 PM PDT by doug from upland

Harry M. Reid of Nevada, the Senate's top Democrat, said yesterday that he was in discussions with the chamber's ethics committee to determine whether he should amend his financial disclosure forms to include details of a real estate transaction that allowed him to collect $1.1 million.

The Associated Press reported that Reid gained a windfall from that sale of land in 2004 even though he had not personally owned the property for the previous three years. Reid also did not divulge the 2001 transfer of the land to a company he co-owned with a friend, a transaction that would normally call for a mention in Senate financial disclosure documents, the AP said.

Reid's spokesman, Jim Manley, defended the sale as a "normal business transaction at market prices." He added that the land went through "several legal steps associated with the investment . . . that did not alter Senator Reid's actual ownership interest in the land." If, however, the ethics committee determines that the land's transfer to a company requires additional disclosure, Manley said that Reid would be "happy to provide" it.

(Excerpt) Read more at washingtonpost.com ...


TOPICS: Crime/Corruption; News/Current Events; Politics/Elections; US: Nevada
KEYWORDS: crook; harryreid; landdeal; mafiabuttboi; nevada; reid; taxes
NOTE: I taught real estate law, econ, and finance in college for 10 years. When this story broke, I spoke to a WashPost reporter, although I don't remember if it was this guy. I think it is possible that Reid claimed he had ownership, even though the ownership had transferred, so that when he made his windfall profit he would get capital gains treatment instead of paying ordinary income on his gain. The reporter said that such could not be verified without seeing Reid's tax returns, which he will certainly not divulge.
1 posted on 08/05/2012 12:14:52 PM PDT by doug from upland
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To: doug from upland

Harry Reid...liar, thief, Democrat.


2 posted on 08/05/2012 12:19:47 PM PDT by allendale
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To: doug from upland

Good story Doug and nice to see you posting.


3 posted on 08/05/2012 12:21:22 PM PDT by HANG THE EXPENSE (Life's tough.It's tougher when you're stupid.)
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To: doug from upland

turn the heat up on the boxer? puny little scrunt and not even a good liar. Hope he loses everything. He belongs in Prison.


4 posted on 08/05/2012 12:21:39 PM PDT by DrDude (Paralegal vs. Paramedic ? Whats the difference!)
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To: doug from upland; All

what about the Abramhoff scandal?? Remember?? The one reid was knee deep in yet continually responded “this is a Republican scandal”???

F this POS- the GOP has fought like little girls against the clown for years...”the war is lost!!” “the surge has failed!!”....

why should we expect them to take off the gloves now???


5 posted on 08/05/2012 12:23:40 PM PDT by God luvs America (63.5million pay no federal income tax then vote demoKrat)
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To: doug from upland

The Harry Reid Do-Nothing Miracle Investment System! Through this system, you can sit back and watch the cash roll in from questionable desert real estate investments with the sort of reliability that only government can provide. The system is as simple as it is hidden through shell corporations, nepotism and political contributions. Yes, there are just three easy steps to mogul-like millions in Las Vegas real estate:

1. Find a parcel of land made undesirable by government environmental regulation, utility leases, or simple pesky zoning!
2. Hire a Reid, invest with a Reid, contribute to a Reid, but above all, know a Reid!
3. Be patient while Sen. Harry “Papa” Reid does NOTHING UNUSUAL on your behalf and watch those government barriers to wealth melt away!

Got a stupid endangered tortoise on your worthless land? Let Harry Reid show the BLM a real “shell game” as that value-killing protected habitat is inexplicably moved miles away!

Want to build a primo strip mall in a residential area? Just have a “Casino Lawyer” drop Papa Reid’s name like a severed horse’s head into the silk sheets of local government. Bada-bing! The zoning changes almost as fast as the value of the land!

Bought thousands of acres of land ruined by a pre-existing government power line lease? Just pick up your personal “power line” to Harry Reid and watch with glee as he does NOT use his influence to push a special bill through Congress. ZAP! The federal right-of-way is moved right out of your way … instant millions!

Think these are just hypothetical sales hype scenarios? No, these are these real life “Reid Estate” transactions.

Real Life Example No. 1: In the early 1990s a helpless corporation, Del Webb, wanted to realize its personal dream and develop some land outside Las Vegas. There was just one problem: the government owned much of it and it wasn’t for sale! Employing the simple Reid Estate wealth building system, Del Webb hired a former Reid aide, donated $18,000 to Harry Reid’s campaign fund and then did the obvious next thing: it purchased “environmentally sensitive” lands 400 miles away near Lake Tahoe. After two letters to the Interior Department from Sen. Reid and a personal meeting organized by him, at which a government employee said he felt “pressured” by Reid, the Interior Department allowed Del Webb and its partners to swap that environmentally valuable land near Lake Tahoe for the environmentally worthless (but commercially valuable) land in Las Vegas. Reid claims to have done nothing unusual.

BAM! Instant value. IT’S JUST THAT EASY TO MAKE MONEY IN REID ESTATE!

Real Life Example No. 2: In a remarkable coincidence, land adjoining the above “swapped” land was then sold by a Del Webb partner to … Sen. Harry Reid and his partner, Jay Brown. The transaction was at fair market value, Reid later stated. Mr. Brown, described by the Associated Press as a “casino lawyer” whose “name has surfaced in federal investigations involving organized crime, casinos and political bribery,” and Sen. Reid wished to develop the land as a strip mall—which would have a much fairer market value than the land they bought, which was zoned strictly residential. A Reid Estate rezoning was called for!

But first Sen. Reid sold his land (for the exact price he had paid for it) to “Patrick Lane,” a limited liability corporation created by Mr. Brown, in exchange for a share of that limited liability corporation. This move created no net value, but coincidentally resulted in Reid’s name being removed from the deed before Mr. Brown went publicly before the zoning board to represent Patrick Lane LLC, a corporation that somehow omitted Mr. Reid’s name from any of its public corporate filings.

When the first board rejected the rezoning as “inconsistent” with Clark County’s Master Development Plan, Brown appealed and the Clark County Zoning Board and the Clark County Commission overruled the decision. Coincidentally, Mr. Brown’s agent had stated to commissioners during the appeal, “Mr. Brown’s partner is Harry Reid, so I think we have people in this community who you can trust to go forward and put a quality project before you.” Strange—that Reid’s name was so carefully removed from legal documents and then dropped casually in the halls of government—and right before the commission overruled the previous decision. Well, the important thing is that the residential land Reid bought for $400,000 was soon sold for $1.1 million (Reid’s part) as a commercial property. And all because Sen. Reid did nothing unusual. That’s the power of the Reid Estate system! Let the wheels of government grind away your financial worries!

Real Life Example No. 3: But even the first two examples are nothing compared to the experience of one Harvey Whittemore, a simple lobbyist and long-time practitioner of the Reid Estate system. Whittemore inadvertently got a great deal on a 42,832-acre property once intended as a missile test range. The land was a development nightmare, because it was infested with the endangered Desert Tortoise and the entire road frontage along U.S. 93 was blocked by a mile-wide power line corridor leased to the federal government. Either one of these problems alone might take an act of Congress to solve. But Harvey Whittemore had that in mind all along! Whittemore understood the importance of “Step 2” of the system: “Hire a Reid, invest with a Reid, contribute to a Reid, but above all know a Reid!”—and he had all the bases covered.

“You have to understand how close the Whittemore and Reid families are,” Whittemore told the Los Angeles Times. “My relationship with Sen. Reid goes back decades.” In addition, Whittemore’s personal attorney is Leif Reid, the senator’s son. Rory Reid, another of the senator’s sons and head of the Nevada Democrat Party during the Clark County Commission’s decision to rezone his father’s property, was made a partner in Whittemore’s law firm. In fact, all four of Reid’s sons (Rory, Leif, Josh and Key) have worked for the firm during their careers. Whittemore has given tens of thousands of dollars to Harry Reid’s campaigns, thousands to Rory Reid’s successful campaign to be elected to the Clark County Commission, and thousands to Josh Reid’s unsuccessful bid to be elected to the city council of Cottonwood Heights, Utah.

Although neither Sen. Reid nor Leif Reid intervened on his behalf, according to Sen. Reid, the Bureau of Land Management gave Whittemore clear title to 10,000-acre rent-free lease constituting the Desert Tortoise Preserve in the middle of the site, in exchange for 10,000 acres on the eastern edge of the 5-mile by 13-mile tract. Local officials of the Interior Department objected to this minor “boundary adjustment” of the preserve, but were overruled by Washington. The Desert Tortoises, it turns out, were willing to move to the Mormon Mountains.

The federal power corridor was a bigger problem. But after Sen. Reid inserted a measure into a federal land bill opening up the property across the highway for the corridor, then repeatedly inserted a provision into bills to move the corridor across the highway, that pesky 15-square-mile corridor just disappeared. At first, this was to be a gift from the government to Mr. Whittemore, but after a minor stink was raised, Whittemore offered to pay $160,000 for the 15-square-mile improvement. Eventually, he was forced to pay the $10.4 million that government appraisers said the change was actually worth.

But that was still a bargain, since together the federal changes to the corridor and the Desert (and Mountain) Tortoise habitat freed up more than 20,000 acres of highway-accessible Reid Estate for a development that will eventually include 159,000 homes, 16 golf courses (several by Jack Nicklaus), and all the associated strip malls this new city will require. I suggest they call it “Tortuga Hills.”

But there was one last obstacle to clear. The EPA suddenly decided that bulldozing desert streambeds, as proposed, might be bad for the streambed environment. A flurry of calls from Sen. Reid arranged meetings between the EPA, Whittemore and Leif Reid. Nevada’s junior senator, Republican John Ensign, was enlisted in the cause, clearing the way for the senior senator, Harry Reid, to also become more directly involved in talking to EPA Administrator Stephen Johnson. Can you guess what the outcome was? That’s right—the system worked. The Harry Reid Real Estate Investment System, that is. The project proceeded with minimal changes.

There are other examples, as well. But you can see how this simple investment system, accessible by every citizen (no mater how unconnected), works to create millions and millions of dollars of new government-unleashed wealth for its practitioners

How successful is the system for its inventor, Sen. Harry Reid? So successful he doesn’t even remember how much land he owns anymore! He’s constantly “remembering” old parcels just before the ethics committee asks about them. Such oversight is often the result of “clerical errors”—just like Sen. Reid accidentally paying personal obligations with campaign funds was the result of “clerical errors.” “Clerical errors” are soon to be added as “Step 4” of the system: “What to claim upon getting caught using the system.”

In fact, the system is so successful that Harry Reid, that beacon of morality from Searchlight, Nev., can now stop worrying about money altogether, and concentrate on his true calling: fighting the “culture of corruption” in Republican Washington.


6 posted on 08/05/2012 12:24:11 PM PDT by Repeal The 17th (We have met the enemy and he is us.)
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To: HANG THE EXPENSE

:)


7 posted on 08/05/2012 12:24:45 PM PDT by doug from upland (Just in case, it has been reserved: www.TheBitchIsBack2012.com)
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To: doug from upland

I read that Obama’s dead momma owns some property in Las Vegas. And yes, the present tense is deliberate.


8 posted on 08/05/2012 12:27:48 PM PDT by nolongerademocrat ("Before you ask G-d for something, first thank G-d for what you already have." B'rachot 30b)
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To: allendale
Harry Reid...liar,

thief, Democrat.

Three ways of expressing the same description.

9 posted on 08/05/2012 12:28:22 PM PDT by capt. norm (Blessed are they who can laugh at themselves for they shall never run out of material. c)
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To: doug from upland
Good afternoon.

I heard that Harry Reid is a pedophile rapist.

5.56mm

10 posted on 08/05/2012 12:29:46 PM PDT by M Kehoe
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To: doug from upland

Dirty Harry Reid: The Mafia's "Mr. Clean Face" on the Nevada Gaming Commission

Reid is so mobbed up that he's a walking, talking blackmail puppet. Axlerod could order him to strip naked on the Senate floor and tar and feather himself and he would do so instantly.

Read Freeper Fedora's excellent investigative thread to understand this human slimeball, and why he is willing to be a tool in this libel campaign: he has NO CHOICE. He is a Mafia and Chicago Rat Mob puppet.

Mr. Cleanface’s Dirty Laundry: Harry Reid’s Mob Money. (Original FReeper research 01/20/2006 by Fedora)

Dirty Harry Reid Got $1.1M In Shady NV Land Deals: one example of how it was done.

Dirty Harry Reid is so well known as a Mafia puppet, that he was featured in the movie Casino as "Harrison Roberts."


11 posted on 08/05/2012 12:30:52 PM PDT by Travis McGee (www.EnemiesForeignAndDomestic.com)
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To: doug from upland

The Washington Post printing a maybe-not-so-good story on a Dem, and Harry Reid at that? Did I wake up in an alternate universe? Is up, down? Should I say “bye” in greeting and “hello” when leaving?


12 posted on 08/05/2012 12:31:59 PM PDT by jeffc (Welcome to the United Socialist States of America)
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To: All

SOME OF YOU MAY ENJOY THE YOUTUBE SING-ALONG ABOUT THIS SCAM

http://www.youtube.com/watch?v=yqMoe7u7Qdc


13 posted on 08/05/2012 12:33:42 PM PDT by doug from upland (Just in case, it has been reserved: www.TheBitchIsBack2012.com)
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To: doug from upland

This should be continually brought before the public.

Didn’t Pelosi Galore have some shady deal as well?


14 posted on 08/05/2012 12:35:59 PM PDT by sauropod (You can elect your very own tyranny - Mark Levin)
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To: doug from upland

You mean to tell me that Reid is a lying thief? I just read this morning from and article somewhere written by someone, who is a credible source, that stated Obama and Reid were having a homosexual affair and that both of them like playing with little boys in motel rooms there in D.C..

And now this, “I’m shocked I tell you, shocked”....!


15 posted on 08/05/2012 12:36:44 PM PDT by swampfox101
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To: All

This Could Possibly Be A Scene From
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Right After Reid And Pelosi
Have Privately "Discussed" Obama's Loss!!
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16 posted on 08/05/2012 12:46:13 PM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; Convert from ECUSA; ...

Thanks doug from upland.


17 posted on 08/05/2012 1:12:36 PM PDT by SunkenCiv (https://secure.freerepublic.com/donate/)
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To: doug from upland

Looks as if the little undertaker stepped in it.


18 posted on 08/05/2012 1:29:48 PM PDT by Eric in the Ozarks (I didn't post this. Someone else did.)
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To: doug from upland

Term Limits!! Get these crooks out of government before they can get their hooks onto the peoples’ money. These guys and gals come into congress middle upper-class with modest incomes. They leave millionaires. This has to end!


19 posted on 08/05/2012 1:39:38 PM PDT by physcitech (God only knows)
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To: sauropod

These f’n criminal bastards throwing stones and wanting you to believe thier for the little guy. They are all millionaires ON OUR DIME!


20 posted on 08/05/2012 2:06:33 PM PDT by ronnie raygun (bb)
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To: doug from upland

Someone told me that somebody heard that Harry Reid originally used that land to molest kids. . . .and he has yet to deny it !!!!

(evil grin)


21 posted on 08/05/2012 2:08:03 PM PDT by Salgak (Acme Lasers presents: The Energizer Border. I **DARE** you to cross it. . . .)
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To: doug from upland

Hey, this Reid fellow... he owes us some documents, doesn’t he? Why, he’ll be so forthcoming, to set an example for Romney,.... right?


22 posted on 08/05/2012 2:14:23 PM PDT by Lazamataz (I love the Universe, and it loves me.)
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To: doug from upland

And while we are at it, let’s take another smell at the Obama-Rezko land deal.


23 posted on 08/05/2012 5:04:40 PM PDT by Malesherbes (- Sauve qui peut)
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To: DaxtonBrown; doug from upland

Daxton, your need to take a look ant this. Something to follow up on.


24 posted on 08/05/2012 5:16:24 PM PDT by bcsco
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To: Repeal The 17th
"The Harry Reid Do-Nothing Miracle Investment System!"

Does it ace Hillary's futures system?

The Kenyan must go.

25 posted on 08/05/2012 8:06:28 PM PDT by ex91B10 (We've tried the Soap Box,the Ballot Box and the Jury Box; ONE BOX LEFT!)
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