Reply #4: Funny, this has links to the Savings and Loan scandals of the 80's...

[haele]

"Hunter's Alpine property was owned by the federal government months before he bought it, something he says he did not know at the time. "
....
"The house went into foreclosure in 1993, by which time the lender had been seized by the Resolution Trust Corp., the agency formed by Congress in 1989 to bail out hundreds of failed thrifts.

Hunter was among those who voted to create the Resolution Trust Corp., a bill that passed the House 201-175 and was signed by President George H.W. Bush."
....
"The Resolution Trust Corp., which closed in 1995 and handed operations to the Federal Deposit Insurance Corp., had rules prohibiting insider trading and conflicts of interest as it sold off thousands of seized properties.

The Code of Federal Regulations prevented contractors from buying real estate they were hired to liquidate. The law also excluded “related parties,” described as key federal employees and others, from the government sales. "

....
So, not only was his appraisal screwed up in his favor (which actually is not unusual in East County - there's a history of quid pro quo out there), he wasn't supposed to buy the property in the first place.

I also heard on KLSD today from his congressional race opponent that there's some investigation into his business in Virginia - apparently, he is also running a Virginia real estate business and has been since he first got elected to office. There's some question as to his using his congressional office and links to help his business there out...


The most amazing thing about the article is that it was published in the San Diego U-T.

Haele