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Wealthy lawmakers increased their riches as economy sputtered in '09
The Hill ^ | 8/31/10 | By Kevin Bogardus and Barbra Kim

Posted on 08/31/2010 4:19:42 AM PDT by blueyon

The wealthiest members of Congress grew richer in 2009 even as the economy struggled to recover from a deep recession.

The 50 wealthiest lawmakers were worth almost $1.4 billion in 2009, about $85.1 million more than 12 months earlier, according to The Hill’s annual review of lawmakers’ financial disclosure forms.

Sen. John Kerry (D-Mass.) tops the list for the second year in a row. His minimum net worth was $188.6 million at the end of 2009, up by more than $20 million from 2008, according to his financial disclosure form.

While the economy struggled through a recession during much of 2009 and the nation’s unemployment rate soared to 10 percent, the stock market rebounded, helping lawmakers with large investments. The S&P 500 rose by about 28 percent in 2009.

Total assets for the 50 wealthiest lawmakers in 2009 was $1.5 billion — that’s actually a nearly $36 million drop from a year ago. But lawmakers reduced their liabilities by even more, cutting debts by $120 million last year.

(Excerpt) Read more at thehill.com ...


TOPICS: Front Page News; Government; Miscellaneous; News/Current Events; Politics/Elections
KEYWORDS: 111th; agenda; congress; democratcongress; democratparty; democrats; economy; elections; hopeychangey; notaxes4dnc; notaxes4geithner; notaxes4kerry; obama; senate; taxcheatparty; taxtherich; unemployment
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To: blueyon

The 50 wealthiest lawmakers were worth almost $1.4 billion in 2009, about $85.1 million more than 12 months earlier, according to The Hill’s annual review of lawmakers’ financial disclosure forms.
Coincidence?


21 posted on 08/31/2010 11:21:37 AM PDT by CoastWatcher
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