Posted on 09/20/2011 6:45:52 PM PDT by mnehring
Republican presidential candidate Rick Perry has revoked the blind trust that holds the majority of his investments, revealing for the first time in 15 years where his money is invested.
The Texas governor provided a range for the number of shares he holds in each of 25 different stocks that together are worth between $108,000 and $319,000. His portfolio was well-diversified, with holdings in major corporations from the United States and Europe.
Perry also listed eight municipal bond holdings, all of them from outside of Texas. No value was given for those bonds. He also listed a money-market account worth more than $10,000. He also owns a home in College Station valued at $214,000 that is rented out.
At 61, Perry is nearing retirement and a conservative broker would have moved most of his assets into bonds and cash to protect the value of the trust. Perry reported that his broker has recently sold 12 stocks, with half of them posting losses on the initial investment.
The trust was established in 1996, while Perry was agriculture commissioner, and was managed by a broker. Perry was not informed of what the trust held until last month. In a letter to the Texas Ethics Commission dated Aug. 12, he amended his annual personal financial disclosure to reflect that he now knows where his assets are invested.
Blind trusts are used by politicians to avoid appearances of conflicts of interest in making important decisions. The Associated Press obtained the letter and the new disclosure form in an open records request.
(Excerpt) Read more at news-journal.com ...
I hope this guy gets a pension from the state of TX or he is not in good financial shape.
Sounds as if he has been spending more than he should over the years, if this is all he has. But I would also wonder what his government retirement fund looks like.
Yeah, I agree he is worth less. ;)
He took a $300K hit over the past few years. Sounds like who he trusted to run his blind trust didn’t do so well. He does have a lot of land in West Texas though that isn’t an investment so a lot of his net worth would be tied up in that.
The GOP candidates should seal all their records like Dunham did. After all, its private.
So much for the crony capitalism claim.
Merck or Cintra in there?
One of the reasons we provide retirements to politicians and government employees is so they won’t feel it necessary to “take” from willing donors.
Not that I can find. Lots of mid-cap like Donaldson Inc, ADP, EcoLab, and Del Monte. Not really seeing anything medical or drug related in the stories so far but I’m still trying to find the full list.
I heard that the 22 lawyers that checked Palin out in Alaska are on their way flying over Chicago,on their way to Austin.
Oh Zero set his boys in to beat Perry last election. Their Boy White (worked in Clinton Admin) didn’t win.
I’m sure they’ve already got all they’re going to get. Even Kay Baily tried to run a Web thing claiming Perry was gay. HIS supporters are a lot more seasoned than people give them credit. Kay had to back off that little stunt fast, once the trail led right back to her D.C office.
After that came to light she was done.
He could write a book and become a millionaire, so I am not worried about him. But otherwise his lack of wealth is surprising to me and will play very well to the moderate voter. He would be the first non-millionaire President in God knows how many decades?
Perry's net worth is $2.8Million. A lot of that is tied up in his ranch.
Kind of an uninspired list of stocks too. Seems his broker was screwin’ the pooch
OK fair enough. I didn’t see that. Still, I think he can play modest on TV. :-) You know what I mean..
I don’t know the details of how he got the ranch, maybe he has owned it for decades or inherited it etc.. but the fact that he didn’t write books for millions in advance, he didn’t work for a high flying law firm, etc. could be a positive overall.
And I am not a big Perry fan, thought he did poorly in the debates and I worried about his electability. But this I think will end up being a plus.
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I think it was purchased from returns on real estate deals. That is how he made most of his money.
No.
The “Perry is gay” stuff didn’t originate with Kay Bailey or her 2010 senate campaign.
Those rumors began with a blog called Burnt Orange Report back in 2003 or 2004. Despite best efforts, none of Perry’s detractors have been able to produce any evidence whatsoever that the rumors have any validity. And they’ve tried, hard.
Perry’s got plenty of baggage, but this is old and stale. And Hutchison isn’t to blame.
Thank you for the article, mnehring!
This is such a difference than the consistently-hidden secrets of Obama. I’m glad to see Perry has opened up and shared as he has here.
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