Lawmakers Invested in Bailed-Out Firms | WHAT REALLY HAPPENED

Lawmakers Invested in Bailed-Out Firms

Top House lawmakers had considerable holdings in major financial institutions that took billions of dollars in taxpayer bailouts at the end of last year, according to annual financial disclosure reports released yesterday.

From stock holdings to retirement funds to mortgages, more than 20 House leaders and members of the House Financial Services Committee had large personal stakes in the Wall Street powerhouses whose collapse last year led to an unprecedented government intervention in the marketplace. In some instances those lawmakers, like millions of other investors, sold their holdings at steep losses while others retained the stocks at greatly diminished value.

House Speaker Nancy Pelosi (D-Calif.) and her husband lost hundreds of thousands of dollars investing in American International Group, which has received $170 billion in government loans and cash injections, making it by far the largest recipient of federal bailout dollars. Republican Whip Eric Cantor (R-Va.) and his wife held stock, retirement plans and other investments worth at least $183,000 and as much as $495,000 in firms benefiting from federal government rescue efforts, including Goldman Sachs and Morgan Stanley.

Webmaster's Commentary: 

Last September I warned you this was what was going on.

Remember that photo of the House members laughing after they passed that first bailout?

They are laughing to YOU!

Because even though the taxpayers were more than 90% opposed to giving public money to these failing financial dinosaurs, Congress voted their own wallets and looted YOU to save their stock portfolios.

When do you say enough is enough?

When do you get angry?

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