Wednesday, April 22, 2009

Diane Fuenstien, Corrputo-crat

Influential Democratic U.S. Sen. Dianne Feinstein introduced legislation on the first day of the new Congress this year to route US$25 billion in taxpayer money to a government agency that just awarded a lucrative contract to sell foreclosed properties to her husband's real estate firm, the Washington Times reported Tuesday.

The contract was to sell foreclosed properties at rates higher than the industry norms, the paper said, adding that Feinstein's "intervention on behalf of the Federal Deposit Insurance Corp. was unusual" because she isn't a member of the Senate Committee on Banking, Housing and Urban Affairs, which has jurisdiction over the FDIC.

Another oddity, the paper said: The FDIC usually operates on funds it raises from bank-paid insurance payments, not direct federal funds.

According to documents reviewed by the paper, Feinstein first offered to help the FDIC secure funds on Oct. 30. Her letter offering help was sent just days before the agency offered a lucrative contract to CB Richard Ellis Group, a real estate firm her husband, Richard Blum, heads as board chairman.

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