CDR got No-Bid Contract from Ed Rendell's Pennsylvania

The pattern for CDR and is to pour campaign donations into Democrats across this country. In exchange they receive sweet heart deals from the government in order to carry out their rather opaque financial transaction, now we know David Rubin of CDR worked on Rendell's transition and donated over 10,000's of thousands of dollars to Rendell's campaign to win the governorship, well it appears it was money well spent:

HARRISBURG -- Gov. Ed Rendell was not aware that the Pennsylvania Housing Finance Agency awarded a $160,000 no-bid contract in 2003 to a California company headed by a member of his transition team for the state Department of Revenue, his spokesman said today.

Since then, CDR Financial Products has collected an estimated $770,000 as financial adviser to the housing agency, said Brian Hudson, the agency's executive director. Its contract is for $45,000, Hudson said.

CDR's president David Rubin donated $35,000 to Rendell's campaigns -- $20,000 of it in 2002, state records show.

CDR Financial Products in 2006 was paid $225,000 as an adviser on Philadelphia gas works bonds, according to a memo to city officials from broker JP Morgan.

Rubin and his company are at the center of a controversy that prompted New Mexico Gov. Bill Richardson on Sunday to withdraw as a prospective member of President-elect Barack Obama's cabinet.

Rubin has denied engaging in "pay to play" contracts. He could not be reached for comment by the Tribune-Review.

The No-Bid contract part is a nice touch. If we keep pulling the threads half the Democratic party might unravel. In addition the American Spectator has reported that Federal officials are looking into political and financial ties between Rendell and CDR