Special Article from Money Morning by Shah Gilani, Money Morning Editor’s note: In the past Shah revealed who regulates the TBTF banks and how those various agencies’ rules and regulations are administered to try to keep the banksters in line. Today Shah is going to shed light on the banks’ abuses and just how much …
By Kerri Shannon, Associate Editor, Money Morning
Original title: While the Middle Class Suffers, Congress is Getting Richer – With Help From Legal Insider Trading.
While many Americans continue to struggle to save money, members of Congress are getting richer.
A Roll Call analysis of Congress members’ financial disclosure forms showed their collective net worth was more than $2 billion in 2010 – a 25% leap from 2008. Minimum net worth in the House of Representatives rose to $1.26 billion, with minimum Senate net worth at $784 million.
With a median net worth of $891,506, Congress members are nine times wealthier than the average American household – and some Congressional leaders are exceedingly richer.