Once again, the United States government proves itself incapable of grasping the fact that when you put things on the internet, everybody can see them. Today's Washington Post walks us through the seamy details of House members' investment portfolios, which were supposed to be disclosed tomorrow because Friday's the day you bury news. Except, whoops, some overshare-y clerk posted all the juicy bits on a House website yesterday, so here goes…
From stock holdings to retirement funds to mortgages, more than 20 House leaders and members of the House Financial Services Committee had large personal stakes in the Wall Street powerhouses whose collapse last year led to an unprecedented government intervention in the marketplace.
Ugh. Those adjectives make me feel outraged already. Just how rich did the House porkers get, from their elitist insider "stock holdings"?
The Pelosi family lost between $100,000 and $1 million as AIG's stock tanked last year. [Nancy] Pelosi's husband reported a partial sale of between $1,000 and $15,000 of AIG stock on the last day of December 2008. [...]
Rep. Thaddeus McCotter (R-Mich.), a member of the GOP leadership and booster of his state's imploding auto industry, watched his holdings in Chrysler plummet. His disclosure forms for the end of 2007 showed he had between $1,000 and $15,000 in company stock, which by the end of last year fell to between $1 and $1,000 in value. [...] Rep. Carolyn B. Maloney (D-N.Y.) sold all her holdings in Morgan Stanley in March 2008, cashing out her stock for between $15,000 and $50,000 — holdings that a year earlier were worth between $50,000 and $100,000, records show.
Sickening. Just sickening to think that while America's economy burned, our elected officials were raking in profits like that from the arsonists.
Tags: Carolyn Maloney, Economy, House of Representatives, Internet, Nancy Pelosi, Thaddeus McCotter