Feinstein sought $25 billion for agency that awarded contract to spouse

[dixiegrrrrl]

DiFi got's some 'splaining to do.

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.

http://washingtontimes.com/news/2009/apr/21/senate-husbands-firm-cashes-in-on-crisis/

[polichick]

1. It can't be explained - she and her husband are war profiteers.

[GreenArrow]

8. Actually,

that is the explanation.

[polichick]

9. Lol - I'll bet DiFi wouldn't like that explanation.

[GreenArrow]

10. I doubt she has enough of a conscience

to get too worked up about, though she might make a public show about her "dignity" being offended. And then, there's this:

http://www.google.com/hostednews/ap/article/ALeqM5g8M8lj319TqjBLJLsMo_32iaWxOQD97N2VRO0

Senator's offer preceded deal for husband's firm
2 hours ago

WASHINGTON (AP) — Sen. Dianne Feinstein, D-Calif., offered to help the chairwoman of the Federal Deposit Insurance Corp. secure federal funds last year, just days before the agency awarded a contract to Feinstein's husband's firm in the housing foreclosure crisis.

>>

[Thrill]

2. This isn't news to us up here. We've been saying shes been schilling for him

for about 6 yrs now

[Serial Mom]

3. And sometime last year she flew on Air Force One with dubya

and then voted with the Repukes instead of how the good Dems voted - I am sure it was due to her husband getting some large contacts too!

I lost all respect for her and a few other Dems because of the attitude they had over the past 8-10 years about how much they could put in their pockets or the pockets of friends/relatives.

[leveymg]

4. Oh great. Her Bubby resells foreclosed homes and disposes nuclear waste

Gotta wonder how much of it gets dumped off the Somali coast. Real humanitarians, the Feinsteins. Lots of good karma coming their way.

[Mike 03]

5. She's been a huge disappointment. And it's not like she and her hubby need money.

Really sad.

At least California has Barbara Boxer, who is the real deal.

[OKNancy]

6. Washington Times?

Sounds like the Moonie Times is wording this to make it sound the worst possible.
It's not like the FDIC is some off the wall agency and what was the time period "just awarded" ??
a week ago, last year?

Nevertheless, I'd like to read the item from an unbiased source

[OKNancy]

7. more

http://www.sfgate.com/cgi-bin/blogs/nov05election/detail?entry_id=38853&tsp=1


The story by the conservative Washington Times, which appeared today, said that Feinstein's bill to increase FDIC funding by $25 billion arrived shortly after the agency awarded CB Richard Ellis Group, where Blum is chairman of the board, a contract to sell foreclosed houses.

Blum's firm won the contract through competitive bidding. The purpose of the contract was to help the FDIC dispose of foreclosed properties it received as a result of taking over failed banks.

Feinstein issued a statement saying that the story "makes inaccurate and unfair suggestions of impropriety that are simply not supported by facts."

The statement said Feinstein had no knowledge of the company's FDIC contract before being contacted by the Washington Times reporter on Jan. 21. "There is no evidence of any conflict of interest -- or any connection -- between the Senator's foreclosure relief bill and CB Richard Ellis winning a competitively-bid contract, which was awarded -- unbeknownst to her -- by non-political career staff," the statement said.

rest at link

[JohnWxy]

11. 2008 record year for foreclosures. What state has the most foreclosures? California :

I don't know how many contracts were awarded by the FDIC for buying up foreclosed properties in 2008 but...


"Foreclosures last year were up 81% from 2007 and 225% from 2006, according to a report out today from RealtyTrac. One in 54 homes received at least one foreclosure filing during the year, RealtyTrac reported."

http://www.usatoday.com/money/economy/housing/2009-01-14-foreclosure-record-filings_N.htm




http://consumerist.com/5168553/top-10-foreclosure-states

Here are the Top 10 Foreclosures States from Forbes Magazine.

1. California Foreclosures: 88773, Preforeclosures: 122086. Population: 36 million
2. Florida
3. Arizona
4. Nevada
5. Illinois
6. Michigan
7. Ohio
8. Texas Foreclosures: 17177, Preforeclosures: 603. Population 24 million.
9. Georgia
10. Virginia
2. Florida
3. Arizona
4. Nevada
5. Illinois
6. Michigan
7. Ohio
8. Texas
9. Georgia
10. Virginia


The article in THe Washington Times did say the contract was awarded to CB Richard Ellis Group based on competitive bidding.