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underpants Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-12-06 09:04 AM
Original message
Do NOT post any stories about Harry Reid in LBN
Doing so will get them immediately erased. Apparently.

AP Exclusive: Reid got $1M in land sale
http://news.yahoo.com/s/ap/20061012/ap_on_go_co/reid_la...

WASHINGTON - Senate Democratic leader Harry Reid is awaiting word from the Senate ethics committee on whether he failed to properly account for a business deal that allowed him to collect a $1.1 million windfall on land he hadn't personally owned for three years.

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Reid sought the opinion after The Associated Press reported Wednesday that the senator didn't disclose to Congress that he first sold the land to a friend's company back in 2001 and took an ownership stake in the company. He didn't collect the seven-figure payout until the company sold the land again in 2004 to others.

Reid reported the 2004 transaction as a personal sale, never disclosing his earlier sale or the stake in the company.

The Nevada Democrat's deal was engineered by Jay Brown, a longtime friend and former casino lawyer whose name surfaced in a major political bribery trial this summer and in other prior organized crime investigations. Brown has never been charged with wrongdoing, except for a 1981 federal securities complaint that was settled out of court.

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wakeme2008 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-12-06 09:06 AM
Response to Original message
1. This has been reported and debunked about 20 times so far
:shrug:
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INdemo Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-12-06 09:34 AM
Response to Reply #1
12. I think a freeper posted this subject originally..
They do sneak in and spread a little propaganda now and then...
The facts were twisted and it came from a Repuke rag newspaper......
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EarlG ADMIN Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-12-06 09:08 AM
Response to Original message
2. No need to have a go at the moderators
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underpants Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-12-06 09:17 AM
Response to Reply #2
9. Okay my mistake
I've just never seen anything disappear that quickly even once let alone twice.
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Rose Siding Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-12-06 09:08 AM
Response to Original message
3. You mean like the one posted yesterday that is still active?
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Junkdrawer Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-12-06 09:08 AM
Response to Original message
4. You posted a dupe...Here's the original...
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wakeme2008 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-12-06 09:09 AM
Response to Original message
5. One debunk
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ClassWarrior Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-12-06 09:11 AM
Response to Original message
6. When a thread gets deleted, do you see that as an opportunity...
...to post it again 500 times? Geez, have a little responsibility and check if it's a dupe first.

:eyes:

NGU.


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Catchawave Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-12-06 09:13 AM
Response to Original message
7. It might not be true ?
Could be a safety feature on LBN, but I think it would be nice to have an explanation why it was removed?

Also, I have no problem calling out Dems for questionable ethics, if true.
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William769 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-12-06 09:23 AM
Response to Reply #7
11. Oy vey!
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Catchawave Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-12-06 10:09 AM
Response to Reply #11
14. Yikes....
I type too slow, missed the other comments. My bad :(
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meegbear Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-12-06 09:16 AM
Response to Original message
8. THIS is what should be in LBN ...
Sen. Harry Reid (D-NV) "collected a $1.1 million windfall on a Las Vegas land sale even though he hadn't personally owned the property for three years," the AP reports.

Except that's wrong. Reid made a $700,000 profit on the sale, not $1.1 million. Also, the story, by the APs John Solomon, makes it sound as if Reid got money for land he didn't own. But that's not the case.

Its not the first time that Solomon has published a misleading story about Reid. This is the third such story by Solomon over the past six months. Each time, Solomon has hit Reid for taking actions which might create the appearance of ethical impropriety. But because Solomon writes for the most powerful news organization in the land, these very gray-shaded stories pack a wallop. It doesnt help that on numerous occasions, he has missed or distorted key details missteps that help blow up his stories.

This story is no different. It purports to show that Reid collected $1.1 million on the sale of land he didnt own.
Yet, as Solomon obliquely acknowledges, Reid, who had bought the land along with a friend in 1998, transferred his ownership in the land to a limited liability company in 2001. The company, which was composed solely of this land owned by Reid and his friend, in turn sold the land in 2004. That's when Reid collected his $1.1 million share of the sale. Since Reid had originally put down $400,000 on the sale, his profit was $700,000, not the full $1.1 million, as Solomon states in his lead.

Solomon persists in straightforwardly describing the 2001 land transfer as a sale, even though no money changed hands; Reid's share of the land after the transfer was the same as before. In his financial disclosure forms, Reid did not disclose his transfer of the land to the LLC, although he did continue to disclose his ownership of the land through 2004, when it was sold.

So what's the story here? Well, it's not clear that Reid broke any ethical rules -- let alone any laws. Solomon cites one expert as saying that Reid should have disclosed the transfer to the LLC, because "hether you make a profit or a loss you've got to put that transaction down so the public, voters, can see exactly what kind of money is moving to or from a member of Congress." The thing is, of course, that no money moved in the LLC transaction. Reid still owned the same amount of land - it was just under the cover of the LLC.

Now, members of Congress should go out of their way to avoid the appearance of impropriety. The purpose of financial disclosure is for the public to gauge whether lawmakers might run into a conflict of interest. By that higher standard, Reid should have disclosed his involvement in the LLC. And although Solomon is unable to make any specific allegations of wrongdoing, the informality of the LLC arrangement is potentially open to abuse. Reid's office, in a statement on the matter, says they're willing to go back and make such "a technical correction" to the financial disclosures if the Ethics Committee sees fit. One wonders why they don't go ahead and make the correction anyway so as to be above reproach.

That said, let's put this in context.

On two earlier occasions, Solomon has over-inflated his stories on Reid. TPM readers might remember his expose on Reid's involvement with Jack Abramoff (which, after exhaustively detailing an Abramoffs associates contacts with Reids office, failed to mention that Reid didn't vote the way Abramoff wanted him to) and his stories on Reid's acceptance of passes to a boxing match from the Nevada Gaming Commission (which managed to expunge a host of mitigating details too plentiful to name here).

There's an old saying in journalism that three examples make a trend. I think we have a trend here. Solomons apparent weakness for detail is one issue. But most curious is the fact that we live in the muckiest times in recent memory, and yet Solomon, at the helm of the most powerful news agency in the country, persists in roaming the wide ocean of Congressional corruption in a Captain Ahab-like hunt for Reid's ethical missteps.

http://www.tpmmuckraker.com/archives/001782.php
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underpants Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-12-06 09:19 AM
Response to Reply #8
10. Thanks
I posted this looking for the debunk and you , and others, didn't let me down
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endarkenment Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-12-06 10:00 AM
Response to Original message
13. A: a dupe, but....
Consider please what is going on right now. The Republics are in deep shit over one scandal after another. Their response in part is going to be "look here Democrats are bad too". By posting and reposting their propaganda you are inadvertantly helping the effort to dilute the damage.

How about holding off on posting any negative shit about Democratic candidates until, oh I don't know, perhaps November 8, just on the off chance that the negative shit, no matter how seemingly mainstream the source is, is the work of the Bullshit Media System?

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underpants Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-12-06 10:28 AM
Response to Reply #13
15. A:
We shouldn't shrink away from holding our guys to the same standard that everyone else is held up to.

I posted it to see what the other side of this was and it looks like I found it.
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endarkenment Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-12-06 10:33 AM
Response to Reply #15
16. There is always google.
Edited on Thu Oct-12-06 10:33 AM by endarkenment
The point is that people use LBN as a reliable source for news. By posting propaganda there, no matter what your motive, you are helping their cause. Why not post your question somewhere else, in fact why not ask "whats up with the Harry Reid story" in GD-Politics rather than posting the crap in LBN?
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endarkenment Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-12-06 10:40 AM
Response to Reply #15
17. "We shouldn't shrink away from holding our guys to the same standard "
Actually we should, for about four weeks, do just that.
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