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Politics : Just the Facts, Ma'am: A Compendium of Liberal Fiction
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To: tejek who wrote (54713)1/29/2007 10:42:49 AM
From: jlallen  Read Replies (2) of 90947
 
Is Reid a Repub?

LOL!!!

On the ethics front:

chicagotribune.com.

Reid land deal raises questions

By Chuck Neubauer and Tom Hamburger, Tribune Newspapers: Los Angeles Times
Published January 29, 2007

BULLHEAD CITY, Ariz. -- It's hard to buy undeveloped land in booming northern Arizona for $166 an acre. But Senate Majority Leader Harry Reid effectively did just that when a longtime friend decided to sell property owned by the employee pension fund that he controlled.

In 2002, the Nevada Democrat paid $10,000 to a pension fund controlled by Clair Haycock, a Las Vegas lubricant dealer and his friend for 50 years. The payment gave the senator full control of a 160-acre parcel in Bullhead City that Reid and the pension fund had jointly owned. Reid's price for the equivalent of 60 acres of undeveloped desert was less than one-tenth of the assessed value at the time.

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.

Six months after the deal closed, Reid introduced legislation to address the plight of lubricant dealers who had their supplies disrupted by the decisions of big oil companies. It was an issue the Haycock family brought to Reid's attention in 1994, according to a source familiar with the events. Reid's legislation was unsuccessful.

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