“Few federal lawmakers must grapple with the financial ills –unemployment, loss of housing, wiped out savings — that have befallen millions of Americans,” said Sheila Krumholz, the Center for Responsive Politics’ executive director. “Congressional representatives on balance rank among the wealthiest of wealthy Americans and boast financial portfolios that are all but unattainable for most of their constituents.”
That was taken from a new report on the rich folks in Congress. You know, the ones we hire through our votes to represent us. They are supposed to be the folks working for our best interests, for a better America. But this report by the Center for Responsive Politics confirmed what every American already knew – that politicians, both Democrats and Republicans, are members of the MeFirst Society.
The report continues;
When averaging lawmakers’ minimum and maximum potential wealth for 2009, Rep. Darrell Issa (R-Calif.) tops the list with holdings exceeding $303.5 million. Issa (pictured right) is followed by a fellow Californian, Rep. Jane Harman (D-Calif.), with $293.4 million. Sen. John Kerry (D-Mass.) places third at $238.8 million.
Issa, Harman and Kerry realized wealth gains of nearly 21 percent, 19.8 percent and 14.3 percent respectively.
Sen. Mark Warner (D-Va.), Rep. Jared Polis (D-Colo.), Sen. Herb Kohl (D-Wis.), Rep. Vernon Buchanan (R-Fla.) and Rep. Michael McCaul (R-Texas) round the list of lawmakers who in 2009 recorded an average wealth of at least $100 million.
So where is all this income coming from. At a time when the American people are losing their homes, their jobs and their families because of a lousy economy, and at a time when congressional approval is at an all time low of 9%, how are these same leaders making all this money?
They do it by serving and catering to their true constituents – no, not you the people, but Corporations… the people.
Corporations spends tens of millions yearly to lobby their favorite politician. They also provide amazing stock options these politicians find irresistible.
With 82 current members of Congress invested, General Electric tops this list. It’s followed by Bank of America (63), Cisco Systems (61), Proctor & Gamble (61) and Microsoft (54).
Apple, with 42 current congressional investors, edges IBM, with 41. Coca-Cola’s 39 congressional investors pop it a notch above PepsiCo, with 36.
And at least 20 current members of Congress were also last year invested in companies that found themselves the subject of congressional or federal agency inquiries, including Goldman Sachs and BP.
Furthermore, the companies behind a number of lawmakers’ favorite investments played key roles in lobbying Congress on two of the most critical legislative initiatives of the past two years: health care reform and financial regulatory reform.
Among health care-related companies, at least 20 current lawmakers reported owning stakes in Pfizer (49), Johnson & Johnson (39), Merck (27), Abbott Laboratories (25), CVS/Caremark (23), Bristol-Myers Squibb (22) and Amgen (20).
As for financial firms, Bank of American and Goldman Sachs are joined by Wells Fargo (45), JPMorgan Chase (38) and Citigroup (24).
Champagne wishes and Caviar dreams.
These ladies and gentlemen, are the people who feel your pain. They are the ones who know the devastation you face as you lose your home.
These millionaire politicians from the MeFirst Society, are looking out for your best interest.
Sure!
