The 50 Richest Members of Congress (2008)

By Paul Singer, Jennifer Yachnin and Casey Hynes
Roll Call Staff
Sept. 22, 2008, 12 a.m.

41. Sen. Ben Nelson (D-Neb.)
$7.02 million

Nelson holds an unusual investment portfolio that is made up almost entirely of certificates of deposit, municipal bonds and treasury notes. As such, his net reportable worth did not grow much over the past year, but his report also doesn’t indicate significant investment losses.

Nelson does report “residential acreages held for resale” in Nebraska, with a value of $500,000 to $1 million; a year ago, that property was valued at $1 million to $5 million. He also holds stock worth $500,000 to $1 million in a Nebraska metal building manufacturing company.

42. Rep. Tom Price (R-Ga.)
$6.99 million

The Georgia lawmaker’s net worth increased nearly 15 percent, or about $1 million, in the past year.

Much of that growth is the result of an increase in the value of a Minnesota Life annuities fund that Price lists in the $1 million to $5 million category. In 2006, he listed the annuities at a base value of $500,000.

Price also lists partial ownership for at least $600,000 worth of real estate in Roswell, Ga., including medical buildings and a condo development. Together with his wife, he also lists a vacant lot in St. Simons, Ga., valued at $1 million.

The Republican and his spouse also have multiple retirement and investment accounts valued at at least $4 million.

43. Sen. Jeff Bingaman (D-N.M.)
$6.20 million

Bingaman is something of a media mogul, having much of his worth invested in partnerships that hold stock in broadcast, print media and digital communications, among other things.

Bingaman’s net worth appears to have dropped by almost 20 percent from 2006 to 2007, as his wife sold off $2 million worth of stock from a Goldman Sachs investment account. The couple also put up nearly $400,000 in “capital calls” for various investments.

44. Rep. Rosa DeLauro (D-Conn.)
$5.88 million

DeLauro remains financially steady, reporting an identical figure for her net worth two years in a row.

The Connecticut Democrat’s wealth comes primarily from the stake her husband, pollster Stan Greenberg, holds in Greenberg Quinlan Rosner Research, valued at $5 million to $25 million.

DeLauro’s only debt is a loan from Chase Auto in Phoenix, listed at $15,000 to $50,000.

45. Sen. John Warner (R-Va.)
$5.86 million

The retiring Senator has assets scattered across a handful of brokerage accounts, none of which by itself is worth more than $1 million. Last year he added two real estate investments — Under the Missouri Sky Properties and Golden Dome partners — worth nearly $300,000.

Warner reports no liabilities.

46. Rep. Jackie Speier (D-Calif.)
$5.77 million

Speier, a newcomer to Congress, owns four California properties with a combined value of at least $3 million, which propels her onto this list. She is also boosted by her husband’s assets, including more than $1 million worth of stock in a California investment firm.

Her disclosure form lists no liabilities.

47. Rep. John Linder (R-Ga.)
$5.67 million

In August 2007, Linder sold his holdings in Grayling Industries, a Georgia manufacturer of plastic packaging, for $5 million to $25 million, netting a capital gain of more than $5 million.

His financial disclosure form shows two new Schwab money market accounts, one in his name and one in his wife’s, both listed as having a value of $1 million to $5 million. The couple also have two other IRA funds listed in the same category. Linder’s wife also owns three companies holding Mississippi timber land worth at least $700,000.

48. Rep. Randy Neugebauer (R-Texas)
$5.50 million

A developer before he came to Congress, Neugebauer remains active in land and real estate dealings. According to his disclosure forms, in 2007 he sold properties valued at a minimum of $180,000 and bought properties worth at least $317,000, and he holds a passel of other properties, including a D.C. town house. He also bought $1 million to $5 million in U.S. treasury bills last year.

Schumer Advocates for Many on Panel

Nov. 16, 12 a.m.

As Senate Majority Leader, Lyndon Johnson once said of the Joint Economic Committee, “It’s as useless as tits on a bull.” But as that panel’s chairman during the 110th Congress, Sen. Charles Schumer (D-N.Y.) seized the opportunity to elevate the traditionally low-profile post to the forefront of shaping policy. Read Full Article

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