‘Harry vs. You’ Ad Debuts on Nevada Airwaves

Playing on the unhappy populist sentiments of a financially struggling electorate, a new Sharron Angle ad contrasting the concerns of the average citizen with Harry Reid’s lavish lifestyle could do some damage:

The “sweetheart” land deal mentioned in the ad refers back to Reid’s failure to properly report a transaction that nearly tripled his initial investment over a span of six years.

The profit was a result of Reid’s transactional partnership with former casino lawyer and friend, Jay Brown. Reid and Brown initially bought adjoining parcels in a Las Vegas suburb in 1998. They transferred the land to a company called Patrick Lane in 2001 when Reid’s share was valued at $400,000, about the same amount he originally paid for the property. Three years later, Reid collected $1.1 million when Patrick Lane sold the land to a shopping mall developer.

Reid and Brown said they were joint owners of the company, but no documents existed to prove Reid’s share. Both said it was a handshake deal between longtime friends, and Reid’s office said his annual payments of real estate taxes on the parcel were evidence of his continued interest.

His office later provided what they called a “technical correction” to Senator Reid’s disclosure forms.