If Harry Reid hadn’t succeeded in politics, he could have done well in real estate. Actually, the Senate Democratic leader, who hails from Nevada, has managed both.
In 2001, he made $1.1 million on a Las Vegas transaction that got him some unwanted attention from the Senate ethics committee because he failed to report some crucial information on his financial disclosure forms. Now, we learn that he bought out a business partner in another land deal at a price that looks too good to be true and that he has sponsored legislation that would benefit that former partner.
An investigation by the Los Angeles Times found that in 2002, Reid paid $10,000 to a pension fund–controlled by an old friend, Clair Haycock–which owned a 37.5 percent share of a 160-acre parcel in Bullhead City, Ariz. That is one-ninth what Haycock paid when he and Reid bought the land 25 years ago. On a per-acre basis, it’s also about one-fiftieth what it fetched in 1990 from buyers who later defaulted. The county assessor says it sounds like a “super deal” for Reid.
The man is a genuine lowlife.
