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 Affairs with jurisdiction over FDIC; and the agency is supposed to operate from money it raises from bank-paid insurance payments – not direct federal dollars. Documents reviewed by The Washington Times show Mrs. Feinstein first offered Oct. 30 to help the FDIC secure money for its effort to stem the rise of home foreclosures. Her letter was sent just days before the agency determined that CB Richard Ellis Group (CBRE) – the commercial real estate firm that her husband Richard Blum heads as board chairman – had won the competitive bidding for a contract to sell foreclosed properties that FDIC had inherited from failed banks.
About the same time of the contract award, Mr. Blum’s private investment firm reported to the Securities and Exchange Commission that it and related affiliates had purchased more than 10 million new shares in CBRE. The shares were purchased for the going price of $3.77; CBRE’s stock closed Monday at $5.14.
Mrs. Feinstein and Mr. Blum, a wealthy investment banker, are a power couple in both Washington and California who sat behind President Obama during his inauguration in January. Mrs. Feinstein also is mentioned as a candidate for California governor.
Is “conflict of interest” a term that’s observed in politics anymore? I know, I know, it’s a stupid question.
VOTE ALL INCUMBENTS OUT OF OFFICE.
((Never elect a politician who has “a business person” as a spouse.))
crooked. Crooked. CROOKED!!!!!!!!
Pretty tenuous.
She’s a Democrat who supported Obama….
“Nuthin’ ta see here!”
Back to real news: How ’bout that crazed psycho Miss USA contestant…should she be jailed?
Why is this just now coming up? Even I knew about this a month or so ago.
Caption this picture… All your money are belong to me…
But, then, some folks might think the chairman of the bored is the “head” of a company.
“It’s in my interest therefore I see no conflict…”
and chinese people eat noodles…what else is “news”?
Where’s the scandal? Unless they’re caught raping and setting babies on fire their job is secure.
We call her Frankenstein for a reason, ya know.
I voted for Obama, and I like him more than I do the usual politician, but good god is this party full of corrupt old rodents. I hope they put this bitch on ice.
WHA?!?! You mean the democraps are as corrupt as the republicans?!?!?! Get the hell outta here…
Wow, talk about coincidence!
Plutocracy!
Can we PLEASE have a revolution now?!
Cursor_
Why do you post useless news articles like this? What is Brangelina up to these days?
California progressives have dismayed of Feinstein for many years.
I call her a “Republicrat” because of her voting record. This isn’t the first time she has violated the public trust by funneling our money into her (third) husband’s business. Its a pattern. This is more serious only because it is a hot button issue.
She rose to power out of the horrible murders in San Francisco in the 70s (or maybe it was the 80’s.. my memory isn’t that great). She was elected Mayor of SF, ran for Governor and lost by one of the narrowest margins in California history (a bit over 300 votes). She had success running for Senate.
I call her the “Accidental Senator.”
I’ve been hoping a good Democrat would challenge her in the primary, but this is just big enough and newsy enogh to bring her down.
We can only hope. Of course given the corruption in the California Democratic party, there is no guarantee we won’t get something worse.
The elite lining their own pockets again. Business as usual…
But of course Republicans are evil and the party of corporate greed.
P.T. Barnum would be proud of BHO. This way to the Great Egress.
I’ve been trying vote the bitch out of office for years along with Boxer, but they’re too heavely intrenched in Northern California.
#18. Yes, Yes they are. Greed has no party affiliation….got it?
From the same people that gave you “the most ethical administration in history”.
She’s also one of the most hypocritical gun legislators in the country. Wants to ban all weapons, but at one time she was the only person carrying a concealed carry permit in San Francisco.
Another ‘it’s OK for me but not for you’ politician.
Term limits. Until they happen, this kind of nonsense will continue unabated.
Democraps hypocritical? Say it ain’t so.
More good news about our beloved two-party government. Lovely.
I am shocked, SHOCKED, I tell you!
Yep, She’s a repeat offender.
ahem! Did I miss the one about Alaska receiving more funds than any other state? Or was I dreaming that, when I heard it on the news? Apparently Sarah Palin got paid royally for her sham participation, in last year’s election.
‘Is “conflict of interest” a term that’s observed in politics anymore?’
Are you kidding? COI is the life blood of Congress these days. they probably won’t even consider a Bill unless its got a hefty dose of COI in it. Lobbyists deal in little else that isn’t COI tainted. People don’t get involved in politics for pure non-COI reasons, anymore.
And I thought Dems were anti-business.
#29, Not really. Through over-burdening regulation, the big boys can keep the small boys out of competition. Ask any of the big-time donors during the last election.