financial disclosure

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Obama's Net Worth Revealed —Kind Of

It's somewhere between $1.8M and $7M

(Newser) - President Obama's net worth could stand at a hair under $7 million ... or just $1.8 million. That range comes via his financial disclosure reports released yesterday, and USA Today sums it up perfectly: The Obamas "are wealthy, but it's uncertain just how wealthy." Their assets... More »

States Skip FEC, Demand IDs of Nonprofit Donors

FEC gridlock prompts action

(Newser) - The Federal Election Commission is stuck in partisan gridlock—so states are taking nonprofit donor disclosure into their own hands. California this month called on an Arizona group to uncover the source of $11 million used for ballot measure fights; recent court cases in Idaho and Minnesota have forced political... More »

Barclays Execs Under Another Investigation

And bank set aside hundreds of millions for misselling derivatives

(Newser) - Barclays raised a whole bunch of eyebrows when it released its earnings today—and in the process revealed, among other things, that current and former senior executives were under an investigation totally unrelated to the Libor. UK regulators are looking into whether the bank sufficiently disclosed details of the $11.... More »

Now Republicans Call for Romney Tax Returns

Business dealings amount to 'legitimate question': GOP rep

(Newser) - President Obama has some unlikely new allies in his effort to get Mitt Romney to release his tax returns. Members of Romney's own party, from Haley Barbour to Michael Steele, are calling on the candidate for financial disclosure. "His personal finances, the way he does things, his record,... More »

Mitt's Not the Man His Father Was

Paul Krugman: Elder Romney released 12 years of tax returns

(Newser) - If only Mitt Romney had followed in his father's footsteps a little more closely. Sure, they both became wealthy businessmen—but while George's auto-industry success was a boon for American jobs, Mitt's work at Bain Capital appears to have left many workers struggling. Yes, both ran for... More »

Romney Still Worth $250M

Figure is about the same as last year, despite stock sell-offs

(Newser) - Despite a big stock sell-off last year, Mitt Romney is still worth about $250 million, according to a new financial report issued by his campaign yesterday, reports the AP . Romney's blind trust has sold large amounts of stocks in such companies as Boeing, Pepsico, and Volkswagen. There also appeared... More »

Romney Won't Say Where His Money Is

Confidentiality agreement allows him to keep Bain holdings vague

(Newser) - What companies is Mitt Romney invested in? Your guess is as good as the Office of Government Ethic's. Romney's money is largely parked in 48 Bain Capital accounts, and because those accounts are all protected by confidentiality agreements, he's not required to disclose any of their underlying... More »

Bank of America Didn't Disclose AIG Lawsuit Threat

But it's not clear if they legally had to

(Newser) - Bank of America knew that AIG was about to try to sue its pants off as far back as January, but it never told investors on any of its conference calls or in any of its regulatory filings, sources tell Reuters . Public companies are supposed to disclose legal threats to... More »

Gingrich Had Second $1M Tab at Tiffany's

Family's bling appetite up to $1.5M

(Newser) - A half-million-dollar line of credit apparently wasn't large enough to satisfy the Gingrich family's bling appetite. It turns out Newt and wife Callista had a second line of credit at Tiffany's worth close to $1 million, a spokesman has revealed. The second million-dollar tab was revealed yesterday... More »

GOP Candidates Won't Release Tax Returns

Except Trump, who will release his in exchange for a certain birth certificate

(Newser) - Barack Obama made a point of releasing his tax returns to the public while running for president in 2007 and 2008—and when running for the Senate before that. But not one of the candidates vying to face him in 2012 will promise to do the same, Politico has found—... More »

More Than Half of Senators Are Millionaires

And Max Baucus, Debbie Stabenow out of the red

(Newser) - If you’re looking for a recession-proof job, try running for Senate. The combined personal fortunes of the upper chamber members rose 4% to $680 million last year, according to financial disclosure information reviewed by Roll Call . More than half of all senators, 54 lawmakers, are worth more than $1... More »

First Dog Bo Cost $1,600

Obama family's Portuguese water dog was a gift from Ted Kennedy

(Newser) - The Obama family's Portuguese water dog, Bo, cost $1,600, according to financial disclosure documents made public today. The scoop on Bo's price tag is the most interesting tidbit from the forms; President Obama's financial situation was made clear when his tax returns were released last month, the Washington Post... More »

NY Fed Told AIG to Hide Payouts

Details of 'backdoor bailout' hushed up

(Newser) - The Federal Reserve Bank of New York pressured AIG not to release details of massive payments it made to banks after it was bailed out, email exchanges released yesterday reveal. The insurer paid banks, including Goldman Sachs, in full for securities linked to subprime mortages, a move critics say amounted... More »

Economy Wallops Lawmakers' Fortunes

Combined, members of Congress sough off hundreds of millions

(Newser) - The 50 richest members of Congress are still rich, but their personal finances show they’re not immune to the economic downturn, Roll Call reports. Together, the pols on the list have lost $275 million in personal wealth since 2007. In 2008, the legislators' combined assets of $1.3 billion... More »

Federal Judge Ends Oversight of LAPD

(Newser) - A judge has ended eight years of federal oversight imposed on the LAPD after a massive corruption scandal, the Los Angeles Times reports. The judge said the police force had reformed substantially under a “consent decree” that saw tough independent audits and more thorough investigations into abuse allegations. "... More »

Summers Reaped Millions From Bailout Recipients

Earned $2.7M in speakers fees last year

(Newser) - Lawrence Summers, President Obama's top economic adviser, received hefty speaking fees last year from Wall Street giants that later got bailout cash, Bloomberg reports. Summers received a total of $2.7 million from firms like Goldman Sachs and Citigroup on top of the $5.2 million salary he got from... More »

SEC Looking Into Apple's Health Disclosures on Jobs

Non-public inquiry doesn't necessarily indicate wrongdoing

(Newser) - The SEC is taking a long hard look at Apple’s disclosures about Steve Jobs’ health, a source tells Bloomberg. The inquiry isn’t supposed to be public knowledge, and doesn’t indicate that the SEC has seen evidence of wrongdoing. But the agency wants to be sure that Apple... More »

Caroline Ducked $$$ Disclosure in Schools Job

City exempt Kennedy, but isn't exactly sure why

(Newser) - Unlike other New York City employees—including billionaire Mayor Michael Bloomberg—Caroline Kennedy skirted the practice of disclosing her finances when working for the city, the New York Times reports. To reduce conflicts of interest, city regulations require high-level staff to file disclosures, and that would include Kennedy, who ran... More »

Kennedy Won't Make Personal Disclosures Yet

She refuses to reveal financial info 'unless and until' she gets job

(Newser) - Caroline Kennedy has refused to disclose a variety of personal data, from which companies she has invested in to whether she has ever been charged with a crime, reports the New York Times. While candidates or sitting senators must make annual financial disclosures, potential appointees to a vacant seat have... More »

Stevens Jury Finds Typo; Defense Urges Acquittal

On indictment, feds charged senator checked 'no' box when he checked 'yes'

(Newser) - The jury in Ted Stevens’ corruption trial has uncovered an error in one indictment, and the defense is springing at the chance, the Hill reports. Jurors sent the judge a note today questioning a discrepancy in the prosecution’s allegations regarding the senator’s 2001 financial disclosure. Where the indictment... More »

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