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Hastert's Little Rock Trust
June 22, 2006 03:51 AM

Posted at Wot Is It Good 4:


* josh: "Good work: the Hastert earmark scam makes it into the Washington Post. "that's what qualifies for 'good work' these days? at least they front-paged the story.
* at least wapo adds some detail: "In 2002, Hastert was driving to a parade in Sycamore, Ill., when he saw a post-and-beam house he fell in love with, according to Dallas C. Ingemunson, a longtime friend and ally of Hastert's who made the land deals for the speaker. Hastert struck a deal with the owner on the spot, purchasing the house near Plano, Ill., and 195 acres for $2.1 million.
In February 2004, Ingemunson, treasurer of Hastert's campaign committee and chairman of the Kendall County Republican Party, established Little Rock Trust #225. A week later, through the trust, Hastert and his business partners purchased a 69-acre parcel for $340,000, providing road access to part of Hastert's farm that had been landlocked. Hastert owned a quarter of that parcel.
In May 2005, Hastert transferred the 69 acres of previously hemmed-in land from his farm to the land trust. That summer, Hastert personally intervened during House and Senate negotiations over a huge transportation and infrastructure bill to secure two separate earmarks, $152 million to help build the Prairie Parkway through Kendall County and $55 million for an interchange 5 1/2 miles from his property. President Bush signed the bill into law on Aug. 10.
Then, on Dec. 7, Little Rock Trust #225 sold the Hastert parcels to a subsidiary of the Robert Arthur Land Co. for nearly $5 million. The deal netted Hastert a $2 million profit."Good to see WaPo actually note that Ingemunson is Hastert's treasurer as well. I hadn't seen that reported elsewhere.
Wapo adds: "Hastert's attorney, J. Randolph Evans, fired off a letter to the Sunlight Foundation last week, demanding "that the false, libelous and defamatory matter be immediately withdrawn and corrected." In his letter, Evans said that asserting that a new road project would have an impact on land values more than 5 1/2 miles away "would be like complaining about a purchase in Alexandria, Virginia, based on renovations at the Capitol.""Randy Evans also 'fired off a letter' to Vanity Fair when David Rose's article came out - with much more serious allegations. It's not obvious why those allegations, and that rebuttal, didn't make the front page of wapo.
more soon.


...read complete post at Wot Is It Good 4