It’s unfortunate that Snopes didn’t dig any further into the matter. It could have, for instance, sourced an 11-page exposé of Blum and Feinstein published by the online site FoundSF entitled “Richard C. Blum and Dianne Feinstein: The Power Couple of California.” There Snopes would have found how this couple, through a continuing series of events that could only be called crony capitalism on steroids, grew their wealth, starting in 1980 when they were married, from a modest sum to well over $100 million.

In that exposé they would have uncovered another source, this time from the Los Angeles Times, which noted the couple’s illicit activities from the beginning:

A review of the senator’s first two years in office found that Feinstein supported several positions that benefited Blum, his wealthy clients and their investments. She was a vocal proponent of increased trade with China while Blum’s firm was planning a major investment there. She also voted for appropriations bills that provided more than $100 million a year in federal funds to three companies in which her husband is a substantial investor.

Visiting the Times article would have led them to another source that explained in detail her votes as head of the Military Construction Veterans Affairs and Related Agencies Subcommittee (MILCON), which funneled $1.5 billion worth of military construction contracts to URS Corporation, an engineering, design, and construction company located (where else?) in San Francisco — in which Blum had a significant financial interest. Her committee also funneled millions into Tutor Perini, one of the largest general contractors in the country, also located in California, and in which Blum also had a significant financial interest. When Blum sold his interests in URS and Tutor Perini, he booked profits estimated at between $5 and $10 million.

It gets even better. While Blum was an owner in URS, it bought a substantial piece of another company, a defense contractor called EG&G, which just happened to enjoy a windfall contract, thanks to Feinstein’s MILCON committee, of $600 million.

There are other egregious examples of how Feinstein, denials notwithstanding, funneled taxpayer funds into companies either controlled or heavily invested in by her husband. But the aforementioned examples should suffice to prove two points: Snopes often fails to dig deeply enough to discover the depth of corruption and deceit and denial in its efforts to “vet” a story like that from the Ventura California Tea Party. Second, the rampant self-dealing and obvious conflicts of interest go far beyond just a little agreement to sell some post offices through a company controlled by Feinstein’s husband.

If one listens only to Snopes and fails to dig more deeply, one may be left with the conclusion that “there’s nothing to see here. Just move along now, and thank you.”

A graduate of Cornell University and a former investment advisor, Bob is a regular contributor to The New American magazine and blogs frequently at www.LightFromTheRight.com, primarily on economics and politics. He can be reached at [email protected].

http://thenewamerican.com/usnews/crime/item/15579-snopes-misses-larger-story-on-sales-of-post-offices-by-california-sen-feinstein-s-husband-s-company