Bailout's Execution Draws Bipartisan Ire on Hill

Just a coincidence that pork benefits own real estate, they say

(NEWSER) - Members of Congress are not only steering earmarks to their own districts, but also their own backyards, funding projects that boost the value of properties they own, a Washington Post investigation finds. Comparing disclosure forms against public records revealed that over the last few years, some 33 members of Congress have directed more than $300 million to projects within two miles of, and sometimes right next to, their own property. Another 16 sent earmarks to companies or projects where their family members are employed. More»

Darrel Issa, Michael McCaul, and John Kerry top the list

(NEWSER) - About 11% of Congress might be taking Occupy Wall Street’s anti-1% rhetoric personally. At least 58 lawmakers have a net worth north of $9 million, putting them in the top 1% of all Americans by wealth, according to a USA Today analysis of financial disclosure forms. The actual figure is a bit murky, however, as lawmakers only report their assets in broad ranges, and don’t need to disclose their property values. More»

Kerry falls behind with mere $193M

(NEWSER) - It’s been a tough year for most of us, but the richest in Congress, it seems, have only gotten richer: This year’s 50 wealthiest members are worth a collective $200 million more than last year’s, the Hill notes. Among them:

• With a minimum net worth of $287 million, Rep. Michael McCaul, R-Texas, knocked John Kerry out of the top spot this year, leading the rest of Congress by tens of millions. McCaul’s wealth comes largely from his family; his father-in-law founded Clear Channel Communications.

'Notably improved' market means $15B-$20B profit for taxpayers

(NEWSER) - The Treasury Department will start selling the $142 billion portfolio of mortgage-backed securities, the "toxic" assets it bought up during the financial crisis , the Wall Street Journal reports. The securities are mostly 30-year, fixed-rate mortgage-backed securities guaranteed by either Fannie Mae or Freddie Mac. And having bought the securities dirt-cheap, the Treasury expects to make between $15 billion and $20 billion for taxpayers in the next year. More»

WikiLeaks, Fannie Mae among planned investigations

(NEWSER) - Rep. Darrell Issa is coming out swinging: Congress’s new government oversight chief has placed WikiLeaks, FDA recalls, and much, much more on his long list of planned investigations, according to an outline of committee hearing topics obtained by Politico . Other matters on Issa's slate include corruption in Afghanistan; the role of Fannie Mae and Freddie Mac in the foreclosure crisis; regulation's impact on job creation; and the inability of the Financial Crisis Inquiry Commission to agree on the cause of the crisis. More»