Senator's husband cashes in on crisis

Senator's husband cashes in on crisis

washingtontimes.com

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 A

(visit the link for the full news article)

This agency is supposed to operate from money it raises from bank-paid insurance payments - not directly from federal dollars.

This looks like a conflict of interest to me. $25 billion is a lot of money. The article goes on to talk about the problems with spouses of senators. We are seeing this come up more and more and it seems that both political parties are equally guilty of taking advantage of these situations. Of course they claim each spouse didn't know what the other was doing, that it was entirely inadvertent. I don't know enough about the ins and outs of the real estate industry, let alone banking, to know if the explanation holds up but it looks like a pretty sweet deal.

washingtontimes.com
(visit the link for the full news article)

reply to post by earlywatcher

This looks like a conflict of interest to me.

Conflict of interest in our government?? What will they think of next?

This is the exact type of behavior that has created this mess that we are in. The government has been pretty successful in redirecting all of the blame onto the bankers, despite their own complicity in the situation. Since they have shown that they are not to be held accountable, it only makes sense that this type of thing continues to happen.

I would bet that if we were to have real transparency about where the bailout funds have gone, that a majority of the money has ended up benefiting a select group of people who have direct ties to the government. Sweetheart deals and lobbying is all that our government does these days. They don't give a rats behind about the people they "serve".

It's all about greasing pockets.

reply to post by Karlhungis


I know it's beyond obvious that these elected officials of ours are robbing us blind, but still it doesn't hurt to point out specific examples. I just ran across another article that says that the TARP program is especially vulnerable to abuse. ya' think?

In particular, the report cited the private-public partnership that would purchase troubled real estate-related securities from financial institutions. Under plans unveiled by Treasury, for every $1 of private investment, Treasury would invest $1 and could provide another dollar in a nonrecourse loan. That money could then leverage a loan from another government fund backed mostly by the Federal Reserve, a step that Barofsky says would dilute the incentive for private fund managers to exercise due diligence.

Government report warning bank bailout

All the new transparency means is that we get to hear the details about this stuff happening but there is no accountability and no attempt to stop it.

why does corruption even shock people anymore? thats all it is anyway, every where you look, everything you see, everything you hear is corrupted

reply to post by Darth_Prime


but are we to the point that we don't bother to be outraged? this is not what government is for. okay it's what government is for in the eyes of the robbing elected officials but it's not what the people want.

is any legislation passed these days to benefit the citizens of this country or is it just to make tax money available and the power that goes along with awarding it more accessible to legislators?

I think we need to be more outraged instead of less. these folks are crooks.

Originally posted by earlywatcher
reply to post by Darth_Prime

 

but are we to the point that we don't bother to be outraged? this is not what government is for. okay it's what government is for in the eyes of the robbing elected officials but it's not what the people want.

is any legislation passed these days to benefit the citizens of this country or is it just to make tax money available and the power that goes along with awarding it more accessible to legislators?

I think we need to be more outraged instead of less. these folks are crooks.

oh yeah of course we do!

people have been so complacent they let this happen to us, we should not stand for any kind of corruption what so ever!

Wow where is this change we can believe in. Obama is allowing all sorts of corruption to fly on his watch. Please dont give me the "Well look at Bush" because he is gone and he didnt run on a cleaned up Washington like Obama did. Remember Pelosi and her "Clean the scum up" speech. Disgusting man...two party crime family we get to choose between the cryps and the bloods.

[edit on 21-4-2009 by mybigunit]

reply to post by mybigunit


Seriously, Pelosi and Obama are two of the biggest hypocrites in the government right now. They’re all a bunch of liars but man, it’s hard to see a party caving so quickly into the thing they claimed to despise before Obama was sworn in.

Originally posted by rapinbatsisaltherage
reply to post by mybigunit

 

Seriously, Pelosi and Obama are two of the biggest hypocrites in the government right now. They’re all a bunch of liars but man, it’s hard to see a party caving so quickly into the thing they claimed to despise before Obama was sworn in.

not that hard man considering there is only one party and that is the Global Elitist Illuminati NWO Puppet masters