Contracted real estate manager CB Richard Ellis Group, Inc.
Client Federal Deposit Insurance Corporation
Start Date 2008-00-00
Goods "In January 2009, Feinstein introduced legislation to route $25 billion in federal funding to a Federal Deposit Insurance Corporation (FDIC) program designed to forestall home foreclosures by expediting loan workouts and expanding federal loan guarantees. On the surface, Feinstein’s legislation was a straight­forward intervention on behalf of troubled homeown­ers nationwide. But less than two months prior, the FDIC had also awarded Blum’s real estate company, CB Richard Ellis, a multimillion dollar contract to sell homes the agency had inherited from failed banks. This move was also highly unusual, since Feinstein is not a member of the Senate committee that oversees the FDIC."
Updated over 8 years ago

Source Links