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Congressís wealthiest shielded from recession


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#1    questionmark

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    Cinicus Magnus

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Posted 07 October 2012 - 12:14 PM

Washington Post said:


If you could peer deeply into how the 535 members of Congress handle their money, what would you find?

You would see a diversity of investment strategies and results, from those who put their money into riskier, high-growth funds to those who own safe municipal bonds. The legislators range from the super-rich to the deep-in-debt, from inherited wealth to married wealth to no wealth at all. They are entrepreneurs and farmers, oilmen and ranchers, lawyers and real estate developers.

You would find that, contrary to many popular perceptions, lawmakers don’t get rich by merely being in Congress. Rich people who go to Congress, though, keep getting richer while they’re there.

The wealthiest one-third of lawmakers were largely immune from the Great Recession, taking the fewest financial hits and watching their investments quickly recover and rise to new heights. But more than 20 percent of the members of the current Congress — 121 lawmakers — appeared to be worse off in 2010 than they had been six years earlier, and 24 saw their reported wealth slide into negative territory.

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Hmmm... and we are surprised that they do so little to fix the problem...

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#2    CommunitarianKevin

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Posted 07 October 2012 - 12:27 PM

Why should they? People will keep re-electing them just so they can pad their wealth. They say some BS about "trickling down" and idiots vote for them, and they laugh and collect.

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