Dan Riehl of the Riehl World View has run two very interesting posts building on published material about Nancy Pelosi's family fortune(s), and the possible role of (gasp!) political influence in securing lucre for relatives. The issue immediately at hand is Treasure Island, formerly the property of the United States Navy, a man—made isalnd in the middle of San Francisco Bay. It is being decontaminated at taxpayer expense, and plans are for it to be developed to house 6,000 families.
It is all very complex, and many details remain murky. Dan summarizes nicely:
So, we have a major land transfer with the Army and Navy spending money to rehabilitate the land as a result of major contamination. And there is Nancy Pelosi on the front end involved in the land transfer — her son in the middle involved with zoning — and a nephew bringing up the rear with the developer. Coincidence? And how much pressure did Pelosi exert on the military to put money into this, or grant concessions on the land?
I doubt that laws have been violated, but the incestuous coziness is startling, as it often is in San Francisco Democrat machine politics. See this excellent article by Daniela Kirshenbaum for more background on the mores and morays of the San Francisco leftist and wealthy political elite.
Thanks to land use and environmental restrictions, land hereabouts is incredibly expensive, and government bodies, many of the appointive, have the power to create and detroy fabulous wealth. Pelosi is reputed to be one of the wealthiest members of Congress. Surprisingly, the exact deails of how she and her husband made that fortune are rather obscure.
If the GOP Congressional minority had the same degree of ruthlessness as their Democrat counterparts, or if there were a conservative George Soros ready to find opposition research, I would wager that some mighty interesting information could be dug up. Of course, if I were a foot taller, I might be a halfway decent basketball player, too.
Thomas Lifson 11 15 06
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