Paul Keil at TPM Muckraker lays out the problems with The Reid transaction story and Terry at Nitpicker covers the legal features of what Reid did.

I worked with people associated with development in California and am very familiar with what Reid did and why it was done the way it was done.

Reid bought a nice piece of property with his available money, but he was limited because he bought the property to sell, not to hold, and if he had mortgaged it, there would have been problems with the sale. The adjoining property was also available and Reid found a friend to buy it. The two of them formed a partnership based solely on the ownership of the land. Because they now technically owned the partnership and the partnership owned the land, the entire parcel could be sold in a single transaction.
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Several people including Shakespeare’s Sister have highlighted this video commercial, which is extremely effective.

It would be more effective down my way if it referenced Exodus chapter 3: to be taken seriously, the bush has to be burning, not sweating.

Y’all are in really deep yogurt right and it’s looking like a real disaster for your chances in the mid-term elections, so what you need is a real October surprise, something that will totally take the nation and the Democrats by surprise and get Mark Foley off the front pages. It has to be a real shocker.

Impeach Bush and blame everything on the White House.

I’m telling you, it’s a winner.

Blogger Status:

Thursday, October 12, 2006

Blogger and Blogspot was down between 5:30 and 7:30 PST this morning due to a network malfunction. We apologize for the inconvenience and the fact that this blog was not updated earlier but since this blog is also server by Blogger updating it was of little use.

Well, you could move Blogger Status to a free WordPress site.