Pelosi's wealth grows by 62 percent

[RockX]

House Minority Leader Nancy Pelosi (D-Calif.) saw her net worth rise 62 percent last year, cementing her status as one of the wealthiest members of Congress.

Pelosi was worth at least $35.2 million in the 2010 calendar year, according to a financial disclosure report released Wednesday. She reported a minimum of $43.4 million in assets and about $8.2 milion in liabilities.

For 2009, Pelosi reported a minimum net worth of $21.7 million.

http://thehill.com/blogs/on-the-money/801-economy/166599-pelosis-net-worth-rises-62-percent-

 

[Guns Guns Guns]

Guess you want her to get a tax break now, right?

 

[PostmodernProphet]

and all that profit is after taxes have been paid......she did pay them, right?......

 

[Topspin]

nice gig if you can get it
not one repuke is going to say republicans don't rake the fuck in too.

 

[DamnYankee]

How many laws did she make to get her that largess?

 

[tinfoil]

They're exempt from insider trading laws, so why is this a suprise? Why do you think billionaires spends fortunes to get elected? They can make vast fortunes without scrutiny.

 

[DamnYankee]

Really?

 

[FUCK THE POLICE]

Maybe I'm crazy, but I'd think that being rich and wanting higher taxes on the rich would just be further proof that your policy prescription exists primarily because it's what's best for the people, rather than for any personal gain. Clearly, however, being rich and wanting to cut your taxes would be the unselfish way to go.

 

[FUCK THE POLICE]

BTW, I doubt a 3% tax raise on the top 1% is going to eliminate the rich, though I definitely could be wrong here.

 

[FUCK THE POLICE]

Really?

Yeah. So a member of the armed services committee could, for instance, knowing that a defense company was about to get a weapons system killed, sell all their stocks or take a short against it. These trades aren't made public immediately, so the market has no way to react. Most of Pelosi's wealth and income is in San Fransisco real estate + a vineyard, though, so I don't think this applies specifically to her, and I haven't heard of anyone analyzing her income statements (which are public) and pointing out unethical trades she's made. Which, of course, the Republicans would do in an instant if there were any real evidence. It's really weird that she'd make so much in real estate after the housing market has collapsed, though. But, again, her income statements are public, and you can analyze them yourself.

 

[DamnYankee]

No wonder this county's gone to shit.

 

[Cancel 2016.2]

They're exempt from insider trading laws, so why is this a suprise? Why do you think billionaires spends fortunes to get elected? They can make vast fortunes without scrutiny.

that is incorrect. They are required to put their assets into blind trusts.

 

[FUCK THE POLICE]

that is incorrect. They are required to put their assets into blind trusts.

OK, I'm not sure I understand what you mean here, but apparently I'm incorrect? They had a big post about it on r/econ the other day. But r/econ does tend to get sensational.

 

[tinfoil]

Here's what a quick search turns up.

http://www.minyanville.com/business...insider-trading-members-of/2/17/2011/id/32881

I wasn't aware of the blind trust stipulation. Can you help us understand how that would work? Where can we learn more about it?

 

[Topspin]

I guarantee you they profit from being in congress. They may escape the insider trading through trust. Look at thier financial releases, they buy land where big projects are going to be approved by themselves.
they go into office with 1 to 5 million and miraculously leave with several times that.

 

[tinfoil]

Are we supposed to believe that politicians wouldn't find a way to direct the funds while maintaining the supposed wall of seperation a blind trust should provide? When they face no possible investigation, I find it hard to believe a blind trust would be little more than a facade.

 

[Topspin]

I don't think anybody here from either side believes they don't benefit beyond thier salaries.

why would you spend 10x the salary campaigning that you'd make in your term. Because they make huge land and business deals. Their wives, cousins, friends can by in thier names.

 

[FUCK THE POLICE]

Being a politician is hugely profitable. Look at the networth of the average senator - a 200k salary every year can't even come close to explaining that. The "poorest" senator was Joe Biden, who came in at a mere million dollars in networth. I don't know who it is now.

 

[Bonestorm]

Being a politician is hugely profitable. Look at the networth of the average senator - a 200k salary every year can't even come close to explaining that. The "poorest" senator was Joe Biden, who came in at a mere million dollars in networth. I don't know who it is now.

A lot of them are rich to begin with. The real money comes not in being in office (as Joe Biden, who was elected to the Senate in 1972 at the age of 30 can attest) but in the opportunities available after serving.

 

[FUCK THE POLICE]

A lot of them are rich to begin with. The real money comes not in being in office (as Joe Biden, who was elected to the Senate in 1972 at the age of 30 can attest) but in the opportunities available after serving.

There's a shitload of money to be made in influence-peddling. That's what my senator, Trent Lott, retired for.