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Senator Dianne Feinstein’s Husband – Sweartheart real estate deal

As verified by snopes.com @ http://www.snopes.com/politics/business/blum.asp

The US has entered into a contract with a real estate firm to sell 56 buildings that currently house U.S. Post Offices. The government has decided it no longer needs these buildings, most of which are located on prime land in towns and cities across the country. The sale of these properties will fetch about $19 billion.

A regular real estate commission will be paid to the company that was given the exclusive listing for handling the sales. That company is CRI and it belongs to a man named Richard Blum.

Richard Blum is the husband of Senator Dianne Feinstein. (Most voters and many of the government people who approved the deal have not made the connection between the two because they have different last names).

Senator Feinstein and her husband stand to make a fortune (est. at between $950 million and $1.1 billion!!) from these transactions. His company is the sole real estate broker on the sale. CRI will be making a minimum of 3% and as much as 6% commission on each and every sale.

All of the properties that are being sold are all fully paid for. They were purchased with U.S. taxpayer dollars. The U.S.P.S. is allowed free and clear, tax exempt use. The only cost to keep them open is the cost to actually keep the doors open and the heat and lights on. The United States Postal Service doesn’t even have to pay county property taxes on these subject properties.

No one in the mainstream media is even raising an eyebrow over the conflict of interest and on the possibility of corruption on the sale of hundreds of billions of dollars’ worth of public assets.

How does a U.S. Senator from San Francisco manage to get away with organizing and lobbying such a sweet deal? Is our government become so elitist that they have no fear of oversight?

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6 Comments

  1. Adam Faber

    This is old news. How do you calculate that Feinstein and Blum will make between $950 million and $1.1 billion?

  2. Steverino

    Will your gossip column be posting Mitch McConnell’s sweetheart deals?

  3. JRM_CommonSense

    “The only cost to keep them open is the cost to actually keep the doors open and the heat and lights on. The United States Postal Service doesn’t even have to pay county property taxes on these subject properties.”

    So let’s look at this comment a little closer.

    We have a “company” losing billions of dollars a year. To try to cut those losses, they are consolidating operations, reducing staff, streamlining processes, and selling prime real estate.

    And Ted thinks that they should keep the doors to all of these properties open and it would only cost the utility fees. Wow, interesting.

    So Ted, tell me, why would you want to keep empty buildings, much less keep them open and pay the utilities. My guess is they are being sold because what was being done in those buildings has been moved to other facilities, and there is no staff to work there anymore. What in the world would be the purposed for “keeping these doors open”?

    • Ted Biondo

      As usual JRM, you totally took the post in a non-intended direction. The point of the post is that Feinstein and the Obama administration, in a no-bid contract – at a minimum, a conflict of interest between the Senate asses and their spouses profiting at taxpayer’s expense. More diversions by a liberal responder!

      • JRM_CommonSense

        Ted, I was commenting on quotes YOU made in YOUR post. Quotes that said that you didn’t understand why these buildings had to be sold. All it would take was the cost of heat and lights to keep the doors open. Are you now disavowing the statements you made?

        As for conflict of interest comments, you probably don’t realize that one of the paragraphs you obviously didn’t read says:

        “In June 2013 the USPS’ Office of Inspector General issued an audit report which noted that “outsourcing real estate management services to one supplier is a fundamental change from how the Postal Service previously managed its real estate portfolio” and was critical of several aspects of the contract between USPS and CBRE, but Richard Blum’s marital relationship with Senator Feinstein was not among the conflict of interest issues cited in that report”

        Or is this just one of those paragraphs that you ignore in most of your posts because it disagrees with the faulty “chicken-little” headline you are pretending is true and really important. To use the kind of verbage you seem to think is acceptable (see above), maybe you need to stop being one of those “chicken-little” headline spouting asses and give us something meaningful and truthful to discuss. Until you do that, free speech gives me the right to comment on anything you post that does not meet the smell test.

  4. Adam Faber

    As usual, Ted, you cooked up a preposterous idea in your head — that the government should keep and maintain $19B-worth of buildings it no longer needs — and you are, as usual, refusing to acknowledge what a dumb, baseless idea that was. How about explaining how you figure that Feinstein and Blum are going to make a billion dollars off of this?

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