Wednesday, April 22, 2009

Diane Feinstein, The FDIC, and a lucrative contract

Yesterday, the Washington Times revealed that Senator Diane Feinstein (D-CA) offered on October 30th, 2008 to secure $25 billion in taxpayer money for the Federal Deposit Insurance Corporation (FDIC) directly on the heels of the agency awarding a three-year contract to CB Richard Ellis (CBRE), a company run by Feinstein's husband, Richard Blum. What makes this case especially interesting is that Ms Feinstein is not even a member of the Senate Committee on Banking, Housing and Urban Affairs which has jurisdiction over FDIC and the FDIC is supposed to operate from bank-paid insurance premiums and not tax dollars.

Were not the Democrats going to end the “culture of corruption” in Washington?

Can anyone say "apparent conflict of interest?"

The Senate Ethics Committee needs to investigate to determine if the government contract was awarded in return for the Senator introducing the legislation funding the FDIC. Does anyone expect it to happen?

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1 comment:

  1. YAHOO!!! I just adgitized you, and no pop-up!

    Great post about hypocrisy being as rampant in Democratic Party as it is across the aisle. For there is no denying that our current economic mess happened under Republican White House leadership, but I can't recall hearing a lot of howls of protest coming from the Democrats when things appeared to be going so well.