House financial disclosures reveal big losses
House Speaker Nancy Pelosi and her husband lost between $100,001 and $1 million on an investment in American International Group according to her 2009 personal financial disclosure.
The revelation was the main focus of a number of news stories published after LegiStorm announced we had posted the disclosures for members of the House yesterday, two days before the schedule release.
The Washington Post, USA Today, Bloomberg and the Wall Street Journal were among the outlets that looked at the files on LegiStorm and wrote about what they found.
Among the news items:
- - Pelosi and her husband, Paul, took similar losses in an investment in a Massachusetts limousine company, a real estate investment company in San Francisco, and an Oklahoma City-based natural oil and investment firm, according to The Hill.
- - Bloomberg reported Rep. Shelley Moore Capito's (R-W.Va.) husband held between $100,000 and $250,000 of Citigroup Inc. and sold a similar amount of the company. Last year, he reported his stake in the company as worth between $1 million and $5 million.
- - Citigroup also led to a loss for Rep. Dave Camp (R-Mich.) He bought shares in the company in September and ended up selling them for a 30% loss about a month later, according to the Wall Street Journal.
- - One member who stayed afloat as the markets dropped was Rep. Barney Frank (D-Mass.), who disclosed more than required and attached monthly investment statements to his disclosure. Frank's portfolio of about $1 million essentially broke even, the Washington Post reported, since it consisted mostly of state and local bonds.
The Senate and House officially release the forms Friday, and LegiStorm expects to post the remaining members' disclosures a few hours after they are released.