Members of Congress Getting Richer, Despite Market Meltdown

Makes you ask yourself a few questions doesn’t it? We’re in a time period considered to be the worst recession since the 1930s, where the Real Estate market has collapsed and unemployment numbers are horrific. Companies have received “bailouts” and wars overseas have us in immense debt. People want “change” and companies and local governments are living by the mantra “Do more with less.” Sometimes, even “Do less with less.” However, it is evident that some people either have valuable secrets of excelling in challenging times, or are profiting from the climate.

Nasdaq fell 8.4% between 2008 and 2009, and members of Congress averaged a 16% increase within their portfolios. Virtually half of Congressional members are millionaires, compared to 1% for society at large in America. And among this group, eight members of Congress are mega-millionaires, with portfolios above $100 million. Rep. Darrell Issa (R-Calif.) holds the largest treasure chest, estimated in excess of $300 million. Trailing close behind is Rep. Jane Harman, (D-Calif.) with her portfolio averaging $293,454,761. Rounding out the top three is Sen. John Kerry, (D-Mass.), with $238,812,296.

Just thought this was interesting. Not necessarily angry or hateful about it, I just think it draws some curiosity and interest. See full article from DailyFinance.


Categories: Politics

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