By Jim Campbell
The ethically challenged Senator Diane Feinstein takes care of herself and husband financially before she gives a thought to We The People.
California’s senior Senator has been diverting taxpayer monies making $multi millions to enhance her family’s personal fortunes.
Not to worry, a rising star, Elizabeth Emken who is the Republican National Committee’s pick to unseat the aging senator will be receiving additional funding as Feinstein has recently decided to put her campaign on “cruise control.”
In 2007 she consulted with the Senate Ethics Committee to determine if one of her financial boondoggles was ethical. It seems axiomatic that a person with ethics and moral integrity would not need to seek advice.
This is one of the many reasons Elizabeth Emken (R-CA); a woman who has always held herself to high standards will be defeating the 78 year-old Feinstein seeking her fifth term.
1. Many of Sen. Dianne Feinstein’s Capitol Hill colleagues want a crackdown on an industry worth hundreds of millions of dollars to her husband, San Francisco financier Richard Blum.
Documents at the Securities and Exchange Commission show.Blum’s private-equity firm, Blum Capital Partners, is the largest stockholder in two of the nation’s biggest for-profit college companies, ITT Educational Services Inc. and Career Education Corp.
In a very strange Feinstein announcement seen below, it’s incomprehensible that she would be unaware of the contract until the contract was awarded to her husband’s firm. If you are looking for honesty and ethics, look no further that Elizabeth.
The shares are worth more than $360 million combined — more than one-fourth of the total assets under management by Blum Capital.
In his personal stock portfolio, Blum has holdings in those firms worth between $3.5 million and $7.6 million combined, Feinstein’s latest financial disclosure form shows. The situation raises possible conflict-of-interest questions for Feinstein, D-San Francisco, because of her role in bills that have aided the industry by boosting the funds that sustain it: Federal loans and grants to college students.
2. Did you lose your home to foreclosure? Not a problem, you again enhanced the wealth of the deceitful senator.
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.
3. The senator was forced to resign from the Senate Armed Forces Committee when she was about to be taken down over her involvement in contracts, again awarded to her husband.
This time the ethical scandal involved MILCON. The MILCON subcommittee is not only in charge of supervising military construction, it also oversees “quality of life” issues for veterans, which includes building housing for military families and operating hospitals and clinics for wounded soldiers. Feinstein was trying to disassociate herself from MILCON’s incredible failure to provide decent medical care for wounded soldiers.
Two years ago, before the Washington Post became belatedly involved exposing the horrors of deficient medical care for Iraq war veterans; while leading MILCON, Feinstein had ample warning of the medical-care meltdown. But she was not proactive on veteran’s affairs.
As the reader would guess, Feinstein abandoned MILCON as her ethical problems were surfacing in the media, and as it was becoming clear that her subcommittee left grievously wounded veterans to rot while her family was profiting from the occupations of Iraq and Afghanistan.
It turns out that hubby Blum, also holds large investments in companies that were selling medical equipment and supplies and real estate leases, often without the benefit of competitive bidding, to the Department of Veterans Affairs, even as the system of medical care for veterans collapsed on his wife’s watch.
As of December 2006, according to SEC filings and http://www.fedspending.org, three corporations in which Blum’s financial entities own a total of $1 billion in stock won considerable favor from the budgets of the Department of Defense and the Department of Veterans Affairs:
- Boston Scientific Corporation: $17.8 million for medical equipment and supplies; 85 percent of contracts awarded without benefit of competition.
- Kinetic Concepts Inc.: $12 million, medical equipment and supplies; 28 percent non-competitively awarded.
- CB Richard Ellis: The Blum-controlled international real estate firm holds congressionally funded contracts to lease office space to the Department of Veterans Affairs. It also is involved in redeveloping military bases turned over to the private sector.
4. According to investigative reporter David Codura at the Examiner, veteran ATF Special Agent Vince Cefalu, Senator Feinstein, was informed of management corruption and abuse issues at the Bureau of Alcohol, Tobacco, Firearms and Explosives.
Feinstein failed to act on the ATF abuse and corruption evidence. Could that have been because she saw no financial incentive?