http://news.yahoo.com/s/ap/20070517/.../reid_finances

Senate Majority Leader Harry Reid has revised downward the value of a 160-acre property he owns in Arizona in the wake of negative news reports, his 2006 financial disclosure form shows.

[Snip]

A Los Angeles Times story earlier this year questioned how Reid acquired full control of the property. The story noted that Reid had owned it jointly with a pension fund until 2002 when he paid $10,000 for the equivalent of 60 acres — less than one-tenth the assessed value of the property at the time — and got full control.

The pension fund was controlled by a friend of Reid's named Clair Haycock, but Reid aides said the transaction was not a gift.

In the early 1990s Reid and Haycock tried to sell the property to California investors for over $1.3 million but the investors defaulted on the sale.

Reid spokesman Jon Summers said that this year Reid advisers decided to report all the properties he owns according to assessed value rather than purchase price. The assessed value of the Bullhead City property is nearly $280,000, according to Mohave County records.

"The value of land in Nevada and that part of Arizona fluctuates because of growth so it seemed to be more accurate to use the tax assessor value rather than the purchase price, because for some areas the purchase price could jump quite a bit," said Summers.

Gee it looks like the deal Hillary got investing in Tyson. 'Kind of' legal.

__________________
Standing on the corner,
Suitcase in my hand,
Jack is in his corset and Jane is in her vest,
And me, I'm in a Rock & Roll band.

at this to the library of the culture of corruption

Gee I wonder if Jack Abramoff (?spelling) gave it to him?

i just wish Reid would get 1/100'th the media coverage that abramoff or foley got. Harry Reid would have no choice but to resign

That might be true. If this is an illegal deal, he should be held accountable.

He never will so don't waste time thinking about it. he fix is in at main stream media.