Many of us remember Congressman Cunningham from California's 50th CD, for his infamous role in helping ram through the pork-for-pharmaceutical-companies Medicare "Reform" bill a couple of years ago. But there is a saying, "be sure your sins will find you out." It appears that may be coming true in Randy's case, as a sweetheart house-selling deal he made a couple of years ago is now becoming sourer by the day.
San Diego's Union-Tribune newspaper
broke the story on Sunday the 15th that Cunningham, member of the House Appropriations Committee, sold his house in Del Mar, a tony region of San Diego county, for roughly 150% of its market value to the CEO of defense contractor MZM, and used the proceeds to buy a new house in an even tonier neighborhood. Meanwhile, the contractor found himself suddenly awash in military contracts, and sold Cunningham's old house for something closer to its actual market value 9 months later, taking a $700,000 loss on it.
San Diego readers were incensed and the story has rapidly exploded since. Housing is a touchy subject here in San Diego, where the median home price hovers around a half million dollars and something like 10% of San Diegans could afford to buy a house here (the national average is 50%). Some enterprising members of North County Coalition for Peace and Justice discovered the address of "Duck and Cover's" new house, and picketed it today, with abundant coverage from various area newspapers and television stations.
Cunningham's worries do not end with chanting activists and reporters hungry for a juicy scandal, however. The house deal is now under investigation by the FBI. Life is hard when you suck from the taxpayers' trough.
Cunningham, fortunately, has an opponent:
Francine Busby, a feisty pro-education businesswoman who ran against him for Congress last year and is having a go at him for the second time around. Busby is no lightweight-- starting as a virtual unknown, her 2004 campaign garnered the tightest margin against Cunningham of any Democratic candidate that has run against him since he was elected. This time, she may put the sting on him for good.