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Fortune helped fuel Kennedy family legacy, agenda
Associated Press ^ | Sun Aug 30, 2009 | STEVE LeBLANC

Posted on 08/31/2009 12:16:55 PM PDT by presidio9

Sen. Edward Kennedy's family fortune not only fueled his brothers' presidential campaigns and his eight terms in the U.S. Senate, it also helped drive the family's liberal legacy and forge Kennedy's lifelong crusade for universal health care.

Just how wealthy was Kennedy when he died Tuesday at the age of 77 after a yearlong battle with brain cancer?

Untangling a family fortune that reaches back to the early days of the past century is murky business, but the annual federal financial disclosure reports Kennedy was required to file provide at least a' partial glimpse into his personal capital.

As a U.S. senator, Kennedy earned a base salary of $165,200 a year, but that just skimmed the surface of his net worth.

On the most recent report in 2008, which includes his own assets and those of his wife and any dependents, Kennedy listed a string of publicly and non-publicly traded trusts and assets. Under the filing rules, Kennedy was only required to place the value of those assets within a range, rather than give an exact dollar amount.

The report placed the net worth of his publicly traded assets somewhere between a low of $15 million and high of $72.6 million.

Just a year earlier,

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Crime/Corruption; Extended News; News/Current Events; Politics/Elections
KEYWORDS: agenda; fundingtheleft; kennedyfamily; kennedylegacy; millionaires
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"In the 1940s, my family bought the Merchandise Mart. In the 1970s, we bought the Apparel Center. And in the 1960 election, my family bought 20,000 votes," he said, referring to his father's narrow presidential victory.

Hilarious. Quite the bunch of lovable screwballs these Kennedys were. When a Democrat loses a painfully close election, the Republicans are accused of cheating and liberals are still bitching about it years later. When there is sound evidence of fraud and cheating from the the Democrats its just harmless tomfoolery, nothing more.

1 posted on 08/31/2009 12:16:55 PM PDT by presidio9
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To: presidio9
My understanding that the Kennedy trust fund was being depleted at a very rapid rate in the late 70's and early 80's. Then Ted became a Senator and things turned around.

At the expense of this nation and its citizens.

2 posted on 08/31/2009 12:19:35 PM PDT by Parmy
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To: presidio9
ALL Liberals should send in ALL of their wealth to the IRS for an equitable spreading of same. 0be included.

Until that happens, they are clearly hypocrites.

3 posted on 08/31/2009 12:20:30 PM PDT by Paladin2 (Big Ears + Big Spending --> BigEarMarx, the man behind TOTUS)
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To: presidio9

Back when I was single, in the apartment below me lived a lady who was almost 90, this was back in late 1980’s and her first husband ran booze for old man Kennedy. I think they got busted and her husband did time (she divorced and moved down to FL). It was neat to talk to her on many evenings and hear some of the tales she had to tell. Wish I would have wrote down some of her stories or recorded some of our chats.


4 posted on 08/31/2009 12:21:08 PM PDT by Qwackertoo (I'm passin' out ass whuppin's and lollipops and I'm all out of lollipops.)
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Comment #5 Removed by Moderator

To: presidio9

The wealthy hold sway in America. Now there’s a headline.


6 posted on 08/31/2009 12:22:49 PM PDT by Wolfie
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To: presidio9

During the 1950s, Joe Sr. was considered to be one the ten wealthiest men in the world with a personal fortune estimated at over half billion dollars. In today’s money that would have made him a multibillionaire.


7 posted on 08/31/2009 12:23:22 PM PDT by Welcome2thejungle
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To: presidio9

last year he reported having a lot more than that. I guess he spent the final year hiding as many assets from the inheritance tax as he could.


8 posted on 08/31/2009 12:25:31 PM PDT by GeronL (http://libertyfic.proboards.com)
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To: presidio9

The Kennedy fortune. Founded on bootlegging money from the 1930’s. That is the equivalent to smuggling drugs today. Some legacy!! My family where honest hard working business people that lost everything in the 30’s. The Kennedys were common criminals that now have fame and fortune. I guess we all get judged in the end and Ted is getting his just rewards.


9 posted on 08/31/2009 12:26:45 PM PDT by BobinIL
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To: Paladin2

I think all libs should take a vow of poverty.


10 posted on 08/31/2009 12:27:10 PM PDT by maggief (KennedyCare ... Dead in the Water)
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Comment #11 Removed by Moderator

Comment #12 Removed by Moderator

To: maggief
"I think all libs should take a vow of poverty."

Liberal Universities too, but I repeat myself.

13 posted on 08/31/2009 12:30:05 PM PDT by Paladin2 (Big Ears + Big Spending --> BigEarMarx, the man behind TOTUS)
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To: Nervous Tick

Fork ‘em.


14 posted on 08/31/2009 12:31:08 PM PDT by Paladin2 (Big Ears + Big Spending --> BigEarMarx, the man behind TOTUS)
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To: Paladin2

>> Fork ‘em.

Your lips to Satan’s ear!


15 posted on 08/31/2009 12:32:00 PM PDT by Nervous Tick (Stop dissing drunken sailors! At least they spend their OWN money.)
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To: Parmy
My understanding that the Kennedy trust fund was being depleted at a very rapid rate in the late 70's and early 80's. Then Ted became a Senator and things turned around.

Huh? Teddy was elected to the Senate in 1962!

16 posted on 08/31/2009 12:35:19 PM PDT by Ditto
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To: maggief
"I think all libs should take a vow of poverty."

They do.

For everyone but those of them in charge.

17 posted on 08/31/2009 12:35:42 PM PDT by TheClintons-STILLAnti-American (E)
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To: Paladin2

I heard somewhere that good old Ted tried to get his state of residence changed to FL so he wouldn’t have to pay the MA death tax. Could be completely untrue for all I know but I wouldn’t put it past him!


18 posted on 08/31/2009 12:36:25 PM PDT by Sunshine Sister
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To: BobinIL
“The Kennedy fortune. Founded on bootlegging money from the 1930’s.”

It seems to run in rich liberals. FDR's maternal grandfather Warren Delano, made his money running opium to China.
http://www.mapinc.org/drugnews/v97/n196/a03.html

19 posted on 08/31/2009 12:37:13 PM PDT by Polynikes (Viene una tormenta)
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To: Paladin2

only ONE sister remains - the mother of Teddy’s nephew who was accused of rape and acquitted.


20 posted on 08/31/2009 12:39:42 PM PDT by RebelTXRose
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To: Ditto

Most of the Kennedy cousins have simply lived off and depleted the fortune. However, some have even increased their person fortunes mostly through marriage. Jackie by marrying the Greek shipping billionaire Aristotle Onassis and Maria Shriver marrying Arnold.


21 posted on 08/31/2009 12:42:34 PM PDT by Welcome2thejungle
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To: RebelTXRose

Might as well post her name and address here so we can give her some feedback.


22 posted on 08/31/2009 12:43:11 PM PDT by Paladin2 (Big Ears + Big Spending --> BigEarMarx, the man behind TOTUS)
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To: presidio9

Teddy’s wealth came because his pappy was a BOOTLEGGER!


23 posted on 08/31/2009 12:46:11 PM PDT by Doctor Don
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To: Paladin2
So here we discover the secret fear at the source of the suicidal liberal mind. It is envy that makes a Nazi, a Communist or a terrorist. It is the fear of being envied that makes a liberal and is the source of "liberal guilt."

This is most easily seen in the children of wealthy parents. Successful businessmen, for example, who have made it on their own normally have a respect for the effort and the economic system that makes success possible.

Their children, who have not had to work for it, are easier targets for guilt-mongering by the envious. So they assume a posture of liberal compassion as an envy-deflection device: "Please don't envy me for my father's money -- look at all the liberal causes and government social programs I advocate!"

Teddy Kennedy is the archetype of this phenomenon.

LINK


24 posted on 08/31/2009 12:47:10 PM PDT by MrB (Go Galt now, save Bowman for later)
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To: RebelTXRose

She was appointed Ambassador to Ireland by WJC.


25 posted on 08/31/2009 12:47:37 PM PDT by Welcome2thejungle
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To: presidio9
Here's a little something most folks don't know about old Joe Kennedy. After WWII he founded an import business bringing in War surplus guns for sale on the American market.

He brought in German Mausers and Italian Carcanos by the boatload.

That's right, Italian Carcanos.

26 posted on 08/31/2009 12:48:10 PM PDT by Lurker (The avalanche has begun. The pebbles no longer have a vote.)
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To: Lurker

http://personal.stevens.edu/~gliberat/carcano/


27 posted on 08/31/2009 12:49:39 PM PDT by Paladin2 (Big Ears + Big Spending --> BigEarMarx, the man behind TOTUS)
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To: presidio9


28 posted on 08/31/2009 12:49:58 PM PDT by roses of sharon (Kennedy dared us to call his bluff, when we didn't, he made all of us complicit in what he had done.)
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To: MrB
"Teddy Kennedy is the archetype of this phenomenon."

No doubt in my mind. Let the MSM describe how Teddy has sent his wealth to the "People".

29 posted on 08/31/2009 12:53:23 PM PDT by Paladin2 (Big Ears + Big Spending --> BigEarMarx, the man behind TOTUS)
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To: roses of sharon

Who b dat?


30 posted on 08/31/2009 12:54:09 PM PDT by Paladin2 (Big Ears + Big Spending --> BigEarMarx, the man behind TOTUS)
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To: roses of sharon

What am I looking at here?


31 posted on 08/31/2009 12:57:26 PM PDT by presidio9 ("Don't shoot. Let 'em burn.")
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To: Welcome2thejungle

Caroline Kennedy Scholossberg is reported to be worth 400-500 million


32 posted on 08/31/2009 12:57:33 PM PDT by MissDairyGoodnessVT ("Economy is the method by which we prepare today to afford the improvements of tomorrow"C.Coolidge)
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To: roses of sharon

Who is this Howard Stern?


33 posted on 08/31/2009 12:58:48 PM PDT by Mark was here (The earth is bipolar.)
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To: Paladin2

In my church, we periodically hear the Gospel account of Jesus telling the young man to sell all he has and give it to the poor, but I just go to a regular Catholic Church so what do I know?


34 posted on 08/31/2009 1:05:29 PM PDT by Emmett McCarthy
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To: MissDairyGoodnessVT

I can believe that after the deaths of Jackie Onassis and JFK Jr. without any heirs she got the whole ball of wax.
She is the heiress to both Kennedy and Onassis wealth.


35 posted on 08/31/2009 1:09:12 PM PDT by Welcome2thejungle
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To: Emmett McCarthy
Well, one is either of the spread the wealth persuasion or not.

It's easy to determine who really ascribes to the belief and those who do not.

36 posted on 08/31/2009 1:09:18 PM PDT by Paladin2 (Big Ears + Big Spending --> BigEarMarx, the man behind TOTUS)
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To: Lurker
“That's right, Italian Carcanos.”

My little brother bought one of those Italian Carcanos and fixed it up for hunting. I think it would have been easier to club the deer to death with it than to shoot it. We still laugh about that gun and how bad it was.

37 posted on 08/31/2009 1:10:01 PM PDT by mickey finn
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To: presidio9
You'll like this: Link to The_Truth_About_The_Tyranny_of_Political_Correctness
38 posted on 08/31/2009 1:11:44 PM PDT by GOPJ (What's Socialism ?? "It's envy" - gussied up as a political cause...... David Horowitz)
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To: presidio9

I recall a story from years ago. Supposedly Joe Kennedy called a meeting of all the children and their spouses. He told them the family was starting to live off his capital and they would have to cut back on spending. One of the sons piped up and said: “well dad you will just have to work harder”.


39 posted on 08/31/2009 1:13:25 PM PDT by Uncle Hal
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To: Paladin2

“Dat” be Caroline Kennedy Schlossberg’s daughter, I believe.


40 posted on 08/31/2009 1:13:33 PM PDT by DennisR (Look around - God gives countless, indisputable, and unambiguous clues that He does, indeed, exist.)
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To: mickey finn
The Carcano was good enough for Lee Harvey Oswald to blow old Joe's son John away with.

History it seems is not without a sense of irony.

41 posted on 08/31/2009 1:15:33 PM PDT by Lurker (The avalanche has begun. The pebbles no longer have a vote.)
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To: Welcome2thejungle

makes ya’ think about her kid Natasha flippin’ the bird,too.


42 posted on 08/31/2009 1:15:44 PM PDT by MissDairyGoodnessVT ("Economy is the method by which we prepare today to afford the improvements of tomorrow"C.Coolidge)
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To: DennisR

Cool. Thanx. Fork her too, I say.


43 posted on 08/31/2009 1:16:07 PM PDT by Paladin2 (Big Ears + Big Spending --> BigEarMarx, the man behind TOTUS)
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To: presidio9
I didn't attend the funeral, but I sent a nice letter saying I approved of it. ~ Mark Twain

.

44 posted on 08/31/2009 1:17:58 PM PDT by Elle Bee
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To: Paladin2

Mostly, they believe in spreading other peoples’ wealth from what I see. I had to bury my own Dad a few months back. He earned his own money and used that money to do good for others. He spent much of his time and money defending the lives of the unborn, volunteering his efforts to work with the homeless and dispossessed. Quiet, humble and effective. Honored and respected in his passing by people who were not there for the “politics” of it. The Kennedys have been choking on their ill-gotten wealth for years and years, but don’t have the sense to even see it. A pity.


45 posted on 08/31/2009 1:18:12 PM PDT by Emmett McCarthy
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To: mickey finn

Oswald made two almost perfect shots with one.


46 posted on 08/31/2009 1:21:18 PM PDT by ontap
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To: Emmett McCarthy

There is the truth of America (as opposed to the Kennedy-0bama pseudo-America).


47 posted on 08/31/2009 1:21:37 PM PDT by Paladin2 (Big Ears + Big Spending --> BigEarMarx, the man behind TOTUS)
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To: Welcome2thejungle
Most of the Kennedy cousins have simply lived off and depleted the fortune.

No doubt that they are trust fund kids with very nice allowances and most likely ghost salaries for serving on various boards or committees of the Kennedy funds and likely cross membership on other 'old money' trusts and foundations.

But they can't get at the principle. As to where the total fortune stands, that would be up to the skill of the fund managers.

Shame they didn't have Bernie Madoff managing it. ;~))

48 posted on 08/31/2009 1:22:57 PM PDT by Ditto
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To: Welcome2thejungle
She is the heiress to like both Kennedy and like, you know, all that Onassis wealth.
49 posted on 08/31/2009 1:27:10 PM PDT by Ditto
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To: Lurker
“The Carcano was good enough for Lee Harvey Oswald to blow old Joe’s son John away with.”

My brother’s Carcano could not hit a deer within clubbing distance. It must have had a hard life before he bought it.

50 posted on 08/31/2009 1:34:12 PM PDT by mickey finn
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