Saturday, September 23, 2017

Need Money? Join the US Senate

Sen. Bob Corker is a wealthy man.  So are a lot of US Senators, of course.  Our very own Herbie Kohl proved that a Senator could be wealthy and STILL sleep through several terms.

But sometimes, accumulating that wealth is.....ahhh......interesting.  Let's take Sen. Corker, who is from Tennessee, and did well on an Alabama land-development.

...According to Annual Reports Sen. Corker filed with the U.S. Senate between 2014 and 2016, he made an investment in an entity known as McGowin Park, LLC, an Alabama corporation, valued at between $1 million and $5 million on July 11, 2014, for which he received a 13.7 percent interest.
McGowin Park, LLC, is an investment vehicle controlled by the Hutton Co., a Chattanooga, Tennessee, real estate development company whose CEO, Karen Hutton, has been a longtime financial contributor to Sen. Corker. It was formed for the purpose of developing the McGowin Park retail center in Mobile, Alabama....

OK.  Let's assume that Corker wrote a check for $5 million here.  At 13.7%, he would have one-seventh of the pie--making the pie $35 million.  Got that? 


...The McGowin Park retail center was sold for $77 million this year....

So a $35 million investment paid out $77 million after 3 years.  Not bad at all.  I'm sure that Sen. Corker will take phone calls from his friend Karen Hutton, who steered him to this little bonanza.

There's more to the story, by the way.  A LOT more.  But you have to read the link.  Suffice it to say that WellsFargo may be very PO'd about how they are being treated, especially compared to how Sen. Corker may benefit from this little deal in the next 20 years or so.

Anybody here old enough to recall how Hillary played the cattle-futures market?  She was SO smart that she was able to make $100 grand pre-tax in only 10 months.  Tyson Chicken hasn't done too badly since then, either.  And that's not a co-incidence.  (Neither did her "advisor," who was named chairman of the home-loan bank board by none other than Bill Clinton, who did not have sex with that woman.)

See?  Run for office, cash in.  This also worked for a leading Republican pervert and Representative, Hastert, who arranged for an Interstate highway to run right past a chunk of land he owned.  Nicely done, backdoor specialist!!

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