Too Stupid For Congress
Rep. Randy “Duke” Cunningham (R-CA) is doing his best to make the Repugnicans proud and has been rewarded for his efforts with an open investigation by the FBI. Cunningham, who sits on the House defense appropriations subcommitte, sold his house in beautiful Del Mar, California to Mitchell Wade, CEO of MZM Inc., a defense contractor based out of Washington at an inflated price. Wade sold the overpriced house at a $700,000 loss. That is enough to arouse interest right there but it gets better.
Cunningham has admitted supporting MZM Inc. in its efforts to win tens of millions in defense contracts. Cunningham has said the transaction was “aboveboard” but with every Republican scandal, a little digging quickly shows otherwise. Cunningham had the house appraised by an “independent” appraiser for $1.65 million. So naturally Wade paid Cunningham that much for the property. Not bad but when Wade put the house on the market the very next day it sat empty for eight months until he sold it for a $700,000 loss. Either Wade is the worst real estate speculator in the history of the world or he just purchased insurance for another defence contract.
The woman who appraised the house for Cunningham was Elizabeth Todd of the Willis Allen Co. Mrs. Todd and her family have been long time financial supporters of the Dukester. What a surprise. When Cunningham took the money from Wade for his Del Mar house and used it to purchase his $2.55 million mansion in Rancho Santa Fe it was Todd’s first real estate transaction according to California real estate records. She probably pocketed $76,000 for the transaction and the appriasal favor. Shocking. It is fun to see that Republicans do screw each other over also though.
But, of course, there is more. When the Dukester is in Washington D.C. he stays aboard a 42 foot yacht named the Duke-Stir. Nice digs if you can get them. Especially when you don’t own the boat. The yacht is owned by Mitchell Wade. It is a small world when you live in Jesusland. The boat is moored at the Capital Yacht Club along the banks of the Potomac. In 1998 when Cunningham was living in his own yacht, the Kelly C, at the Capital Yacht Club, Cunningham used his position on the defense appropriations committee to spend $3 million to refurbish the waterfront.
It was not to benefit himself and the area he calls home in DC though. Cunningham explains that Speaker Newt Gingrich had “said he (Gingrich) wants to make DC a shining city, and so I said OK…I want to clean up the waterfront…not for Duke Cunningham, I haven’t got a nickel invested.” Of course he doesn’t because he used $3 million of our tax money to do it. Somehow I don’t think the Capital Yacht Club was hurting for a refurbishment.
Cunningham keeps saying everything is “aboveboard”. Yeah, right. Only the President is that stupid. Rep Randy “Duke” Cunningham, you are a Republican whore who is too stupid for Congress.