Thread: How Did Harry Reid Get So Incredibly Rich As A Public Official? Rush Limbaugh Video

How Did Harry Reid Get So Incredibly Rich As A Public Official?

By Steve Straub On April 24, 2014 · Leave a Comment · In Politics, Video



Harry Reid has certainly used his position and his power to enrich himself, his family and his friends! Most people are not aware he has accumulated most of his wealth while engaged in public service.

Via Real Clear Politics:

How did Reid manage to grow his net worth so significantly while raising a large family, on a public official’s salary, and incurring the expenses associated with maintaining two residences on opposite sides of the country? Reid has lived frugally — before buying a house in recent years, he kept just a trailer in his hometown of Searchlight — and he has made undeniably savvy investments. More significantly, however, is his willingness to enter political and ethical gray areas to make money.
Reid has walked a fine line over the years, occasionally breaking rules or engaging in brazenly unseemly behavior during his pursuit of wealth. Further, he has also used his position to save money in ways that the general public can’t — a practice that creates public relations issues and raises questions about the senator’s ethics. As for any illegal behavior or obvious wrongdoing, Jon Ralston told RCP, “There’s been some smoke but there’s never any fire on that.”
There is quite a bit of smoke.
In 1998, Reid invested $400,000 in an undeveloped residential property located on the outskirts of Las Vegas. Reid’s partner in the deal was attorney Jay Brown, whom Ralston describes as a “master manipulator.” Reid transferred his share of the property to a company Brown controlled in 2001. By transferring the land to Brown’s firm, Reid avoided legal liability and some taxes. But Reid didn’t note the transfer — or that he had any stake in the company — in his financial disclosure forms, despite rules requiring such transfers to be reported. By 2004, Brown’s company sold the land, which had been rezoned for a shopping center, and Reid received $1.1 million. He reported the sale as if he had always had control of the property.
When the Associated Press asked Reid about the deal during a 2006 interview, he hung up on the reporter.
While some of Reid’s most lucrative deals involved land, he also benefited from investments in stocks.
Near the end of the 2005, he invested between $50,000 and $100,000 in the Dow Jones U.S. Energy Sector Fund, which held shares in several major oil companies. According to National Review, the fund closed at $29.15 on the day Reid purchased. Nearly three years later, in August 2008, Reid sold some of his shares, which closed that day at $41.82. Two months later, Reid-supported legislation that would cost oil companies billions in taxes and regulatory fees passed. The Energy Sector Fund’s shares plummeted to $24.41 each.
While six-figure investments and million-dollar land deals most greatly impact Reid’s wealth, he also manages to save money through some of the perks that come with being the most powerful politician in Nevada (and the U.S. Senate, for that matter).
“There is kind of a pattern. He’ll do something pretty bold. There’ll be a lot of publicity about it, and he’ll step back. But then it happens again,” observed Sebelius. “It’s not as if somebody has made a mistake, learned from it … and it never happens again. This keeps happening.”
Listen to this clip from the Rush Limbaugh show as he discusses how Harry Reid got so rich while working in public service:



Do you think it looks bad when a public servant gets rich while “serving” the public?

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4. This Video Clearly Shows Harry Reid Has Lost His Mind!

Tagged with: abuse of power • corruption • Harry Reid • public service • Rush Limbaugh • video


http://www.thefederalistpapers.org/p...public-offcial

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