The Washington Times reports:
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.
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.
You'll want to read the whole article.For more on Diane Feinstein's "directing" money to her husband,here's
The Hill from 2007:
Anyone who knows much about real power in Congress knows that almost every member of the House and Senate lusts after a seat on the Appropriations Committee and hopes one day to achieve the status of Cardinal. The Cardinals, of course, are the folks who chair the various Appropriations Committee subcommittees and literally control the billions of dollars that pass through their hands.
California Sen. Dianne Feinstein (D) chairs the Senate Rules Committee, but she’s also a Cardinal. She is currently chairwoman of the Interior, Environment and Related Agencies subcommittee, but until last year was for six years the top Democrat on the Military Construction, Veterans Affairs, and Related Agencies (or “Milcon”) sub-committee, where she may have directed more than $1 billion to companies controlled by her husband.
If the inferences finally coming out about what she did while on Milcon prove true, she may be on the way to morphing from a respected senior Democrat into another poster child for congressional corruption.
The problems stem from her subcommittee activities from 2001 to late 2005, when she quit. During that period the public record suggests she knowingly took part in decisions that eventually put millions of dollars into her husband’s pocket — the classic conflict of interest that exploited her position and power to channel money to her husband’s companies.
In other words, it appears Sen. Feinstein was up to her ears in the same sort of shenanigans that landed California Rep. Randy “Duke” Cunningham (R) in the slammer. Indeed, it may be that the primary difference between the two is basically that Cunningham was a minor leaguer and a lot dumber than his state’s senior senator.
One can only imagine if Feinstein were a Republican the New York Times would have gone through garage cans if they had to.
