Monday, February 05, 2007

"The Dishonorable Harry Reid"

One has to wonder why this stuff didn't attract more mainstream media attention before the election.

Harry Reid's skill at making money in real estate makes Donald Trump look like an apprentice. If he ever writes his autobiography, it should be called "The Art of the Shady Deal."

If you accept Harry Reid's explanation that his most recent land deal is on the square, then he has a bridge to sell you. No, not that bridge. Another bridge built over the Colorado River a few miles from property in northern Arizona he bought at about $167 an acre. He doesn't own that bridge, either.


And, Harry's just getting started. I'm sure the national interest was at stake when Reid tried to pass a federal law that would have prevented oil companies from abruptly ending contracts with lubricant dealers.

Or maybe it wasn't the national interest, but the interest of a partner who has been lining Reid's pockets.

In 2002, Reid paid $10,000 to a pension controlled by longtime friend and Las Vegas lubricants dealer Clair Haycock. In return, Reid got full control over the fund's portion of a 160-acre parcel in Bullhead City, Ariz., a 37.5% share. Reid and Haycock jointly owned the entire parcel for more than20 years.

As the Los Angeles Times reports, "Reid's price for the equivalent of 60 acres of undeveloped desert was less than one-tenth the value the assessor placed on it at the time." According to the Times, "If Reid were to sell the property for any of the various estimates of its value, his gain on the $10,000 investment could range from $50,000 to $290,000."


Actually, one doesn't have to wonder why.

1 Comments:

Anonymous Anonymous said...

Growing up in East Texas and Northwest Louisiana was like growing up with "The Kingfish". Politicians had there hand out, or should I say, in our pockets. Mr. Reid appotimizes what I recall from myyounger days. Until recently I was a Democrat. Not prowd of it, it is just a fact. Others beware of the new crop of crap being spewed from Dem's.

7:49 AM  

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