Rangel’s Wealth Jumps After Disclosure

[Freddie Stubbs]

Source: CQ Politics

House Ways and Means Chairman Charles B. Rangel, already beset by a series of ethics investigations, has disclosed more than $500,000 in previously unreported assets.

Among the new items on Rangel’s amended 2007 financial disclosure report were an account at the Congressional Federal Credit Union worth at least $250,000, an investment account with at least $250,000, land in southern New Jersey and stock in PepsiCo and fast food conglomerate Yum! Brands. None of those investments appeared on the original report, which was filled out by hand and filed in May 2008.

According to the original report, Rangel’s net worth was between $516,015 and $1,316,000, while the amended report showed his net worth, as of Dec. 31, 2007, roughly double that amount — at least $1,028,024 and as much as $2,495,000.

Rangel also revised his disclosed investment income from 2007. The original report showed he had received between $6,511 and $17,900, but the new report shows between $45,423 and $134,700.

Read more: http://www.cqpolitics.com/wmspage.cfm?docID=news-000003194205

[AngryAmish]

1. At least someone is making money in this terrible recesson.

[Libertas1776]

2. Scum

[xchrom]

7. rangle might make a buck -- but he's way more on your side that any one else. nt

[vadawg]

10. yeah thats right hes a crook but hes ourr crook, double standards or what..

[WriteDown]

3. Its amazing what you find under the sofa. nt

[Rebubula]

4. THIS JUST IN....

...People in power are able to make money quicker than the rest of us by using insider information and influence.

Stay tuned for details.

[Lagomorph]

13. Yup, any member of Congress...

can legally do what Martha Stewart landed in prison for.

Them that make the rules, exclude themselves from the rules.

I would give you a nickel for the whole damn bunch.

[MessiahRp]

5. Rangel needs to go...

Public financing of campaigns, forced divestiture of all stocks and financial interests by all candidates and their immediately families is the only way you should be allowed to run.

If that means the ridiculously rich have to sell stock and convert their assets to cash that sits in a savings account, I could care less. I am tired of these fools all being bought and paid for. On BOTH sides.

Rp

[timo]

12. hear hear

exactly how I feel,

[samsingh]

6. this is not alot - i would expect him to be in that range

[high density]

8. What a non-event

I don't really give a shit if he's worth $1.4 million or $2.5 million. Neither are awe-inspiring amounts of wealth, IMO.

[Demit]

9. Well, aren't you jaded.

[Psephos]

11. Su-prize, su-prize, su-prize n/t