Posted on 09/02/2012 5:35:43 PM PDT by SeekAndFind
Thanks to the personal finance disclosure that members of congress are required to submit — and the folks at the Center for Responsive Politics who maintain a database of the documents — we were able to look into the investment decisions of Wisconsin Congressman Paul Ryan, who as of last week, is now the official Republican vice presidential nominee.
According to the documents, Ryan has benefited from a number of trusts and inheritances that make up most of his wealth, but his investments over the years have cemented his net worth somwhere between $927,000 and $3.2 million.
A brief stint as a landlord made Ryan some early cash.
We think that this is one of the rental properties Ryan bought.
As a freshman representative, Ryan bought three rental properties in his hometown of Janesville, Wisc., in Feb. 1998 He paid between $100,000 and $250,000 for the properties, financing them with a mortgage from Anchorbank SSB.
He collected between $15,000 and $50,000 per year in rent from tenants, and in 2000 bought a fourth rental property. By that point the properties were worth $250,000 and $500,000.
He flipped the real estate in 2001.
Ryan Limited Partnership, an investment group, has made Ryan a lot of money.
Ryan owned a 21.37% stake in RLP well before he joined Congress, and the asset has grown from a worth of $45,358 in 1998 to somewhere between $100,000 and $250,000 in 2011.
That partnership has diversified its portfolio over the years, and has made a brisk trade in stocks and mutual funds. Dividends alone were worth $5,000 to $15,000 last year, although they were higher prior to the recession. Current RLP assets include Altria Group, Amazon.com, Apple, Google, McDonald's, Philip Morris, Starbucks and Visa.
(Excerpt) Read more at businessinsider.com ...
Good for Paul Ryan. Sounds like he knows what he is doing. As has been stated prior—Empty Chair couldn’t run a lemonade stand.
The founder of BI is a big Obama bun dler. Business Insider should be renamed Crony Capitalist Insider.
The founder of BI is a big Obama bundler. Business Insider should be renamed Crony Capitalist Insider.
Actually I like Millionaires! Never been employed by someone broke. Good Grief... how can you put halo on someone that been a career politician his whole life. I am not against Paul Ryan but at the same time I will not consider him angel to only be disappointed later. Seems the Democrats have learned their lesson on Bamy
RE: Good for Paul Ryan. Sounds like he knows what he is doing.
Some people are now accusing him of using privileged information as Congressman (discussing the financial crisis with Hank Paulson and Bernanke) to dump stocks at the right time.
Did you bother to investigate your “source” for this Ryan smear job?
The are a FAR Leftwing Democrat propaganda outfit. You might as well get your “information” from the Obama campaign as believe this utter nonsense about Ryan
1. I never covet money from those who get it honestly through business, but my antenna goes up and I want to know exactly how politicians make lots of money, when they have the inside scoop and can do favors for others at the expense of taxpayers.
2. Ryan made money off of rent which is fine as long as it was not government subsidized in any way such as Section 8. Any politician that makes his money being subsidized by government or as a Section 8 landlord while pretending to be a conservative, would never get my vote. Every dime the government pays out, whether it be welfare, subsidies, Section 8 to renters and landlords, etc should be completely public information, but instead the pols keep us in the dark so they and their pals can profit.
Did you bother to LOOK at the source for this Ryan smear? It the Occupy Wall Street far far Left fringe wack job crowd.
Might as well be posting Obama campaign literature as cite these clowns as a credible news source.
No one needs to dig for dirt on Bamy. His disappointments are clear for all to see.
I did not think the BI article was one sided. Can you point to any mistakes or errors in the article.
It is not the article that is the problem, it’s the accusations made against Paul Ryan in the COMMENTS SECTION below the article that’s the problem.
Yes, the article is an invitation from an apparently unbiased source for conjecture. Its a set up.
OK, work with facts.
1. Paulson meet with Ryan on Sept 18, 2008.
2. Ryan disclosed on Sept 18, 2008 he sold stock in Wachovia, Citibank and GE.
Paulson meeting was after market closed but one can transact stock sales in after hours and still be sold that day. Interesting Ryan disclosure date is Sept 18, 2008 and not Sept 19.
Can you tell me what is not accurate.
Your sort of “conservative” is the useful idiot of the Democrat Party propaganda machine. What ever they tell you to think, you mindlessly regurgitate.
You “sources” have a far leftist political agenda and are lying to you, quit being their useful fool.
This is nothing compared to John Kerry’s gigolo income.
I do believe its legal for members of Congress to be privy to insider trading. How else did any of them become so wealthy on such small wages?
I’m not sure, but I think they also voted to discontinue this. I don’t have a link or facts, so its pure speculation on my part at this point.
He sold financial stocks on September 18, 2008 the same day he met with Hank Paulson. Have you read Paul Ryans very own disclosure.
Forget BI, Forget Obama, Forget Democratic Party because it is always brought up when facts get in the way although I normally seen that with Liberals.
http://pfds.opensecrets.org/N00004357_2008.pdf
So are you a fool or a fraud?
Insider trading was made illegal for Congress critters in April of this year.
OK ....I will take the Fool with Facts for 100.
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