Political Schadenfreude: We must confess to having a general disdain for most of the politicians out there, Republican and Democrat alike. But we have a special dislike for Nancy Pelosi. That being said, there’s something so poetically just about hearing that she and her hubby took a bath in AIG stock last year. We must confess, it made us laugh hysterically….
House Speaker Nancy Pelosi and her husband sustained losses of between $100,000 and $1 million on American International Group Inc. stock last year. The California couple also spent more than $250,000 to increase their ownership of a luxury spa in Napa Valley….
Ms. Pelosi reported that her husband, Paul, made a number of large financial transactions in 2008. On Dec. 31, 2008, he took a loss of between $100,001 and $1 million when he sold shares of AIG for between $1,001 and $15,000. AIG’s share price fell to about $1.50 from about $55 during its 2008 collapse…..According to the disclosure forms, Ms. Pelosi and her husband had assets worth between $25.1 million and $84.4 million at the end of last year, down from between $35.5 million and $156.2 million at the end of 2007. Their level of debt, which consists of mortgages and a margin account, remained essentially unchanged…..
Market Downturn Hit Lawmakers – Wall Street Journal
Tags: AIG, Credit Crunch, Nancy Pelosi, Politics, Schadenfreude
