Harry Reid - Got Caught

<div class='quotetop'>QUOTE(efusco @ Oct 12 2006, 03:42 PM) [snapback]331966[/snapback]</div>

I'm at a loss for why you think the use of 'friend' makes for a snide remark. The second paragraph of the AP story mentions the friend. :huh:

And, if it (Reid) were a Republican . . . I hear you man! :lol:
If Reid were a Republican . . . the ultralibs here on PriusChat would be raking him over the coals before all the facts are out - much like they are doing with Foley and Hasert. But since he is a Democrat, it's a wait and see, and let's give him the benefit of doubt tact.

At least in my 'friend' paragraph I started with “Apparently†. . . giving Reid a smidgen of a benefit of doubt.

 

I'm not sure Senator Reid has done anything illegal. The AP article hints that there might be government influence at work, but to be honest, I doubt it. No one has to have "influence" to see that the Las Vegas real estate market is red hot ... it has been for the last 10 years or so.

There is an ethics violation of not reporting the gain on the paperwork he files with the Senate, and the Senate will deal with that. He'll be told to be more careful, and to submit the right paperwork. I'd like to see the press give some stats about how common it is for members of the Legislature to have to amend the paperwork, especially in complicated real estate deals. He paid all the taxes on the gain, so he can point to that as evidence that he wasn't trying to hide anything. The article mentions that property taxes among the partners was divided up unevenly ... by a percent or two some years. It sounds like an informal partnership which isn't that unusual in land deals.

Trying to paint this as "kickbacks", "corruption" or any of the other hyperbole we keep hearing is overstating the case at this point. Let's wait and see if there are any actual laws broken before we jump to conclusions.

Nevada voters are exceedingly tolerant of things that would shock other voters, so I doubt ths will have any lasting impact on his career. I doubt this will rise to the level of a Senate censure, unless some laws were actually broken. I don't think Senator Reid is up for reelection this November, so it probably came to light by the normal MSM sniffing at crotches.

 

<div class='quotetop'>QUOTE(dbermanmd @ Oct 13 2006, 06:31 AM) [snapback]332198[/snapback]</div>

You mean like Dick Cheney and Halliburton?

 

<div class='quotetop'>QUOTE(dbermanmd @ Oct 13 2006, 09:31 AM) [snapback]332198[/snapback]</div>

How do you determine if he used his position of power to his benefit? He could have been trying to pull a fast one & skirt the ethics rules, but not necessarily using his position to benefit himself. Or it could have been (as he claims) an honest mistake.

That's the real question. And the answer to that question will no doubt determine the punishment he receives. If the investigation finds he intended to be unethical, he should resign. If the it was actually a mistake, then the ethics committee should punish him.

 

<div class='quotetop'>QUOTE(dbermanmd @ Oct 13 2006, 09:09 AM) [snapback]332215[/snapback]</div>

You're making stuff up again! Cheney owns $8 million in Halliburton stock options! Jeez!

 

<div class='quotetop'>QUOTE(dbermanmd @ Oct 13 2006, 10:14 AM) [snapback]332218[/snapback]</div>

From the CNN article:

Look, I'm not trying to defend him. The question is was the way he transferred the ownership an deliberate attempt to skirt the rules. That's the point I was trying to make. Personally, I don't think it was a mistake. But I can almost always see another side to an argument.

I agree he should step down from his leadership position until the investigation is complete.

 

<div class='quotetop'>QUOTE(dbermanmd @ Oct 13 2006, 12:39 PM) [snapback]332313[/snapback]</div>

Unfortunately that's probably not going to happen. Right now the details aren't salacious enough for them. Now if it comes out that a hooker was somehow involved, you'll see lots of front page coverage.

Falsifying federal documents, while not "sexy", would certainly be interesting enough to get the media involved, too.

I agree there should be more coverage as details become available.

 

If it turns out that Reid's Son was in fact involved in the Zoning Waiver which increased the value of the property, while Reid was hiding his interest in the property behind the LLC, it could turn out quite badly for both of them.

 

<div class='quotetop'>QUOTE(dbermanmd @ Oct 13 2006, 01:58 PM) [snapback]332368[/snapback]</div>

Nah. That won't do it. Not unless he was asking his son about his "franks & beans".

 

This is fraud. I'll call it fraud because it is.

Reid does not have enough holdings and other things going on that this tiny little 400k transaction slipped his mind. I'm not a financial genius on the level where I can tell you why it makes sense to slip the sale to the LLC under the radar, but I can be assured there is a reason to do it that benefits Reid and screws someone else.

Then, if that had been a mistake, you correct it as part of the land sale. Whoops guys, I have been incorrectly stating that this 400k land was mine and really it was sold to the LLC... Now we are selling the land (the LLC is), and I'm taking my % of the profits on that deal..


But, NOOOOOO... that didn't happen... They did the sale and tried to slip another fast one on everyone as if he just did a private sale. Again, I don't know the tax ramifications or other weird problems here, but it's fraud on both ends of this.

Would someone like to contend that Reid had other more significant issues he was dealing with and this little 1.1 mil deal slipped through the cracks on him again?

No way... the guy is filing fraudulant paperwork, and someone should figure out why and tell us all.

Did Reid take tax deductions on whatever it cost to maintain the 400k in land over the years? Did the LLC own the land, but Reid was taking interest and expenses tax deductions over the years for property expenses that he didn't even own?

If you think this was a simple reporting mistake, you just go make the same mistake yourself and see if you get some real problems from the IRS. One up that because Reid is supposed to be under higher scrutiny for being a public official.

The guy's a crook and a fraud, but since he's liberal democrat, the news need not report on this.

which makes the media a corrupt laughingstock of an organization.