Lucille
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Harry Reid's Long, Steady Accretion of Power & Wealth
http://www.realclearpolitics.com/ar...accretion_of_power__wealth.html#ixzz2zuP6ParM
http://www.realclearpolitics.com/ar...accretion_of_power__wealth.html#ixzz2zuP6ParM
“You don’t go far in Nevada before you run into Harry Reid, or one of his people, or somebody who he’s helped come along, or someone he’s helping come along,” explained Steve Sebelius, a Nevada political journalist and longtime Reid-watcher. “His reach is pretty far. … He’s at the top of the heap.”
“It’s like an iron fist inside a titanium glove,” said Sebelius of Reid’s control over the state’s Democratic Party. “His people are firmly in control. Who runs is who he wants to run, and who doesn’t run is who he doesn’t want to run. There’s no one on the Republican side with that kind of influence and control.”
Damore suggested that Reid -- because of his extensive in-state political network and status as Senate majority leader -- may be “the most powerful politician in Nevada state history,” an assertion that several other state political experts agreed with (or at least saw some merit in). But Nevada politicos don’t really debate about the degree of Reid’s power. Rather, the question is whether he has always used it appropriately.
[...]
Yet, his estimated net worth peaked at around $10 million just a few years ago, and he has remained consistently wealthier than when he entered Congress. (Reid reported that his net worth in 2012 was somewhere between $2.8 million and $6.3 million. His 2013 financial disclosures will be released later this year.) As of 2012, real estate composed about one-third of his portfolio. The rest was made up of government bonds; stakes in energy, electronics, pharmaceutical, and chemical companies; and other investments. He also possesses significant mining claims potentially worth hundreds of thousands of dollars.
How did Reid manage to grow his net worth so significantly while raising a large family, on a public official’s salary, and incurring the expenses associated with maintaining two residences on opposite sides of the country? Reid has lived frugally -- before buying a house in recent years, he kept just a trailer in his hometown of Searchlight -- and he has made undeniably savvy investments. More significantly, however, is his willingness to enter political and ethical gray areas to make money.
Reid has walked a fine line over the years, occasionally breaking rules or engaging in brazenly unseemly behavior during his pursuit of wealth. Further, he has also used his position to save money in ways that the general public can’t -- a practice that creates public relations issues and raises questions about the senator’s ethics. As for any illegal behavior or obvious wrongdoing, Jon Ralston told RCP, “There’s been some smoke but there’s never any fire on that.”
There is quite a bit of smoke.
[...]
Friday: The second and final part of RealClearPolitics’ look at Sen. Harry Reid examines how he has used his influence to benefit family, friends, and the state of Nevada.