Wednesday, December 10, 2008

Illinois Governor uses economics

If you dont know the value of an item, and you dont know where its highest valued use is, an auction will identify the high-value bidder, and set a price for the item. Had not the FBI disrupted the auction, Obama's Senate seat would have moved to its highest-valued use.
The FBI says in an October 31, 2008 conversation, Blagojevich described an approach from an associate of Senate Candidate 5: "We were approached 'pay to play.' That, you know, he'd raise me 500 grand. An emissary came. Then the other guy would raise a million, if I mad him (Senate Candidate 5) a Senator."

Last Thursday, December 4, the FBI says Blagojevich "was giving Senate Candidate 5 greater consideration for the Senate seat" because he might "get some (money) up front, maybe."

Is it illegal to bid for a Senate seat?

1 comment:

  1. It is tremendously illegal to "bid" for a Senate seat. Such an act clearly constitutes an "offer" to a "public official" to influence an "official act." See US Code Title 18, Section 201