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Senator Dianne Feinstein's husband's firm cashes in on foreclosure crisis

Original post made by Dr. Ferragamo, Stanford, on Apr 22, 2009

Feinstein introduced legislation to route $25 billion in taxpayer money to a gov't 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.

Read all about it: Web Link

An excerpt:

"This clearly gives the appearance of a conflict of interest," said Kent Cooper, a former federal regulator who specializes in government ethics and disclosures. "To maintain the people's trust in government, it is incumbent on a legislator to take the extra steps necessary to ensure that when she introduces any legislation that it does not cause people to question her motives or the business activities of her spouse."

Mrs. Feinstein and Mr. Blum, a wealthy investment banker, are a power couple in both Washington and California who sat behind President Obama during his inauguration in January. Mrs. Feinstein also is mentioned as a candidate for California governor."

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