Posted on 09/02/2012 5:35:43 PM PDT by SeekAndFind
Thanks to the personal finance disclosure that members of congress are required to submit — and the folks at the Center for Responsive Politics who maintain a database of the documents — we were able to look into the investment decisions of Wisconsin Congressman Paul Ryan, who as of last week, is now the official Republican vice presidential nominee.
According to the documents, Ryan has benefited from a number of trusts and inheritances that make up most of his wealth, but his investments over the years have cemented his net worth somwhere between $927,000 and $3.2 million.
A brief stint as a landlord made Ryan some early cash.
We think that this is one of the rental properties Ryan bought.
As a freshman representative, Ryan bought three rental properties in his hometown of Janesville, Wisc., in Feb. 1998 He paid between $100,000 and $250,000 for the properties, financing them with a mortgage from Anchorbank SSB.
He collected between $15,000 and $50,000 per year in rent from tenants, and in 2000 bought a fourth rental property. By that point the properties were worth $250,000 and $500,000.
He flipped the real estate in 2001.
Ryan Limited Partnership, an investment group, has made Ryan a lot of money.
Ryan owned a 21.37% stake in RLP well before he joined Congress, and the asset has grown from a worth of $45,358 in 1998 to somewhere between $100,000 and $250,000 in 2011.
That partnership has diversified its portfolio over the years, and has made a brisk trade in stocks and mutual funds. Dividends alone were worth $5,000 to $15,000 last year, although they were higher prior to the recession. Current RLP assets include Altria Group, Amazon.com, Apple, Google, McDonald's, Philip Morris, Starbucks and Visa.
(Excerpt) Read more at businessinsider.com ...
Not mentioned: How is Obama able to afford to be looking at a $35 million beach house in Hawaii?
Paid for by “Millionaires & Billionaires” of course.
Why, he sold his soul, of course.
They are out for Ryan’s scalp. He must really scare the snot outta em.
Thou shalt not covet.
He knew how to invest his own money? Let’s hire him!
Yep. This is noise, but Bammers Hawaii palace may get some legs.
So, Ryan built his wealth in small increments, in manners we can all relate to and respect. If he and his wife received inheritances, let’s recall zer0 got $500k from Grandma.
I just want to throw this out there for discussion: does anybody else think that the folks at BI are a bunch of leftards?
Was I supposed to have a different reaction, Mr. Do Hickey?
5.56mm
http://www.businessinsider.com/paul-ryan-money-millionaire-investments-2012-9
On September 18, 2008, for example, Ryan attended a meeting with fellow Kleptocrats Hank Paulson (ex-Goldman CEO) and Ben Bernanke. The same day, Ryan dumped shares of Citi, GE, and Wachovia in exchange for shares of... Goldman Sachs.
RE: The same day, Ryan dumped shares of Citi, GE, and Wachovia in exchange for shares of... Goldman Sachs.
Any evidence of that? That’s insider trading right there and Obama could make hat out of this... so what doesn’t he?
Every President, Congressman and Senator should provide a detailed financial summary of their investments, net worth, income, gains from their coronation on, and for every subsequent year, and keep it updated in real time on the web.
Too many of them come into Congress with modest assets and yet leave quite wealthy. How does that work? I don’t care what letter they have after their name (R/D), they need to disclose it all and continue disclosing it for 5 years after they leave Congress.
Full transparency should be the price for having power over the people and inside information, and if they are found guilty of abusing or illegally using it, they need to lose it all including pensions and benefits.
I don’t know, but who can argue with the facts. Seems they were detailed in the disclosures. Instead of being spoon feed information from your favorite media go for the facts regardless of source.
Have we come to a point where becoming a millionaire is now considered bad in America?
Are millionaires now considered guilty of doing something illegal by default?
What’s happened to this country?
Seems this site has done some looking into the claim. Good Read.
Well, if as that site mentions, there is good evidence for insider trading, THAT WILL BE AN OBAMA CAMPAIGN ISSUE.
In fact, if this is true, there should be grounds for prosecution and maybe even jail time.
For that matter, we should investigate every single stock transaction of every member of congress.
I’m not defending anyone, but I seem to remember hearing something to the effect that it’s legal for congress critters to act on insider info. That’s how all these jerks arrive with little and retire multimillionaires. Supposedly they passed a law making it legal for themselves. Hope I’m wrong, because that’s just more evidence of how scummy they are.
Hey, better late than never.
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