Word: hud
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Remember the HUD scandal? After spending two years and $4 million, special prosecutor Arlin Adams last week landed his first indictment of a former top department official: Lance Wilson, once executive assistant to ex-Secretary of Housing and Urban Development Samuel Pierce. Citing Wilson on 24 counts of fraud, conspiracy and false statements, a federal grand jury charged him with conspiring, after he left HUD for an investment firm, to steer $46 million in grants intended for poor urban areas to three housing projects developed by his business partner, Texan Leonard Briscoe...
Adams has been criticized for moving too slowly in investigating charges of influence peddling at HUD in the Reagan era. Sources say he is far from handing down decisions on other major players at HUD, including Pierce and former executive assistant, Deborah Gore Dean. Meanwhile, Dean, who allegedly awarded millions in grants to politically well-connected Republican consultants, has opened an antiques shop in Georgetown to help pay her lawyers...
...Involve the private sector. Private corporations allied with pioneering charities can make public money stretch a long way. In 1986-87 some 460 nonprofit community groups created 23,120 units of low-income housing, compared with nearly 20,000 for HUD...
...many ideas he has outlined as secretary of HUD, the one Kemp advocates most ardently the creation of federal enterprise zones in the inner cities. These zones use tax incentives to encourage urban development and entrepreneurship. Thirty-seven states and the District of Columbia have implemented--with the creation of an estimated 180,000 jobs and about $9 million in private investment in poor areas, according to Kemp...
...look at the HUD scandal and see whose pocket the money is in. But you can't see any money in the pocket of Edwin Gray, the former Federal Home Loan Bank Board chairman, who fingered you. What's the motive...