So it seems that it pays to be married to Sen. Diane Feinstein. According to the Washington Times ( http://washingtontimes.com/news/2009/apr/21/senate-husbands-firm-cashes-in-on-crisis/ ) in the first session in Congress this year, Sen. Feinstein introduced a bill to funnel $25 billion to her husbands speculative realestate firm.
This is especially unusual since Sen. Feinstein is not on the committee who normally has jurisdiction in such matters. In addition, the agency is supposed to be funded by bank-paid insurance payments and not direct Federal dollars.
Quote from the Washington Times article:
Documents reviewed by The Washington Times show Mrs. Feinstein first offered Oct. 30 to help the FDIC secure money for its effort to stem the rise of home foreclosures. Her letter was sent just days before the agency determined that CB Richard Ellis Group (CBRE) – the commercial real estate firm that her husband Richard Blum heads as board chairman – had won the competitive bidding for a contract to sell foreclosed properties that FDIC had inherited from failed banks.
About the same time of the contract award, Mr. Blum’s private investment firm reported to the Securities and Exchange Commission that it and related affiliates had purchased more than 10 million new shares in CBRE. The shares were purchased for the going price of $3.77; CBRE’s stock closed Monday at $5.14.
Where is the outrage and the investigations? Oh wait, she is a California Democrat so that won’t happen anytime soon. Keep in mind that as I reported last Fall, Sen. Feinstein is also the one who stuck payoffs of pork to the TV/Film industry into the Bailout Bill.
You just gotta love the state that our government is in currently.