This website has repeatedly called for the immediate and complete privatization of the money-losing U.S. Postal Service (USPS) – which has lost an estimated $117 billion over the past decade.
Government simply shouldn’t be in the business of delivering the mail: As evidenced by its ongoing failure to efficiently deliver the mail. Accordingly, all USPS facilities and assets should be immediately sold to the highest bidder – with the proceeds going to taxpayers.
Is that what’s happening? Of course not. The Post Office is shuttering (and selling) a host of properties, but the money is being plowed back into the same failed business model.
Enter U.S. Sen. Dianne Feinstein, whose husband Richard Blum is the board chairman of a real estate company that stands to benefit financially from the sale of these properties.
While some internet reports place Blum’s potential profit on the sale of these properties at more than $1 billion, in reality his investment firm only owns about 5 percent of the real estate company – meaning he’s not directly pocketing all of the commissions from these sales.
Still, the deal stinks … which brings us to the larger point: Elected officials and their relatives or business partners should have absolutely no stake whatsoever in government contracts (at any level). In fact they should be permanently banned from receiving such contracts.
“Sen. Feinstein is not involved with and does not discuss any of her husband’s business decisions with him,” a spokesman for the Senator recently told San Francisco Chronicle. “Her husband’s holdings are his separate personal property. Sen. Feinstein’s assets are held in a blind trust. That arrangement has been in place since before she came to the Senate in 1992.”
Okay … but we’re not talking about Feinstein, we’re talking about her husband (whose income benefits her and will presumably be left to her in the event of his demise). And if you think politicians in Washington don’t trade favors for the benefit of those close to them, then you’re crazy.
Feinstein’s USPS scandal may not be as bad as some reports have alleged, but that doesn’t mean we shouldn’t call it what it is: Yet another example of the sort of self-serving corruption by the ruling elite that’s killing our country.