Palin Resigns -- Facing Federal Indictment?

In a rambling, awkward and embarrassing statement, Sarah Palin gave various reasons for quitting as Governor of Alaska. One of the reasons she DID NOT GIVE was that she may well be facing a Federal indictment for embezzlement. Here is her announcement:

UPDATE: FBI DENIES SARAH PALIN IS UNDER INVESTIGATION

Alaska Gov. Sarah Palin, who announced her resignation from office earlier today, may be facing a federal indictment for embezzlement, according to Huffington Post blogger Shannyn Moore. Moore is reporting that the so-called "iceberg scandal" involves the use of Wasilla Sports Complex building materials for Palin's residence during her tenure as mayor.

According to Moore, "Both structures, it is said, feature the same windows, same wood, and same products."

Max Blumenthal, writing for The Daily Beast, said Alaska political circles are abuzz about a building contractor called Spenard Building Supplies, which has close ties to Palin and her husband, Todd. According to Blumenthal, federal investigators have been seizing paperwork from SBS in recent months, searching for evidence that Palin and her husband Todd steered lucrative contracts to the well-connected company in exchange for gifts like the construction of their home on pristine Lake Lucille in 2002. The home was built just two months before Palin began campaigning for governor, a job which would have provided her enhanced power to grant building contracts in the wide-open state.

According to Blumenthal, just months before Palin left Wasilla to campaign for governor, she awarded a contract to SBS to help build the $13 million Wasilla Sports Complex. The most expensive building project in Wasilla history, the complex cost the city an additional $1.3 million in legal fees and threw it into severe long-term debt. For SBS, however, the bloated and bungled project was a cash cow.

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