The senate has a narrow definition of conflict of interest.Threading the needle .
The scale and the finesse are perhaps different but here are the same basic ethical moves of Blagojevich dressed up in a conservative New England suit.
The reason Senator Judd Gregg's bi-partisan ardor suddenly wilted may not have been formed in the conservative conscience he claimed to have suddenly remembered possessing . After removing his name from consideration to the cabinet post and trying to explain his change of heart on the stimulus bill Gregg said in an interview that the stimulus should focus more on how we control real estate values .A subject he appears to be familiar with ."I have said I think we need to put more targeted effort on the real estate side, where we balance and basically look at how we control the price of real estate, so people have more confidence in the value of their home."
In New Hampshire the former Pease Air force base closure brought some opportunities to Judd Gregg and appears to have done well for his brother .His brother Cyrus is a partner in a company called Two International Group that has built a dozen buildings at the former base since it closed and was re-purposed .Brother Cyrus is said to be a major player at the base
Reports say that he(Sen.Gregg) collected from investments at the former base $240,017 to $651,801 at the same time arranging for federal aid to the former base of $66million.
Gregg's investments in the partnerships date back at least to 1999, when he had $15,001 to $50,000 invested in 222 International Drive LP, according to his Senate reports....By 2007, Gregg had a total of $465,000 to $1.05 million invested in four businesses: 222 International Drive LP, Say Pease LLC, Say Pease II/IV LLC and Say Pease VII LRC, according to his most recent Senate report."I've throughout my entire lifetime been involved in my family's businesses and that's just the way our family works," he said. "We support each other and our activities."
By putting government money into the former base, Gregg helped it become a desirable place for employers to locate, making developments there more valuable.
Said Senator Gregg .."I am absolutely sure that in every way I've complied with the ethics rules of the Senate both literally and in their spirit relative to any investment that I've made anywhere," Say Pease ,indeed
In an interesting but not directly related transaction ....................
Two International also develops properties elsewhere in Portsmouth, recently selling a $1 million-plus condominium at its One Harbor Place development to J. Bonnie Newman, Judd Gregg's former chief of staff. Gregg agreed to become commerce secretary if the Democratic New Hampshire governor named her to succeed him.
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