this is a good one.....anybody talked about it?
Majority Report was just discussing it
A defense contractor with ties to Rep. Randy "Duke" Cunningham took a $700,000 loss on the purchase of the congressman's Del Mar house while the congressman, a member of the influential defense appropriations subcommittee, was supporting the contractor's efforts to get tens of millions of dollars in contracts from the Pentagon.
Mitchell Wade bought the San Diego Republican's house for $1,675,000 in November 2003 and put it back on the market almost immediately for roughly the same price. But the Del Mar house languished unsold and vacant for 261 days before selling for $975,000.
Meanwhile, Cunningham used the proceeds of the $1,675,000 sale to buy a $2.55 million house in Rancho Santa Fe. And Wade, who had been suffering through a flat period in winning Pentagon contracts, was on a tear – reeling in tens of millions of dollars in defense and intelligence-related contracts.
In an interview Wednesday, Cunningham conceded that the circumstances surrounding the transaction could raise "fair" questions, but he insisted that the real estate deal was legitimate and independent of his efforts to help Wade win contracts.
http://www.signonsandiego.com/news/politics/20050612-9999-1n12windfall.html