AIG Collapse: Kerry’s Lost About $2 Million, Pelosi’s About $500,000
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Did you know that AIG was founded by a Bronze Star WWII and Korean War Hero? It is my sincere hope that none of you Dollard Readers or any of your loved ones lost anything with this AIG collapse.
Stock that was once at $58.30 per share closed yesterday at $2.69 per share.
Over 50 members of Congress had money in AIG, including the Kerry’s and the Pelosi’s.
A lot of good peole lost much with this collapse. A lot of not-so-good lost much also…
How does it go?
“The rain falls on the just and the unjust alike.”
This from Bloomberg:
Sept. 19 — The market storm that brought down Lehman Brothers Holdings Inc., American International Group Inc. and other pillars of U.S. finance may have also blown holes in the portfolios of House Speaker Nancy Pelosi, Senator John Kerry and more than 50 other members of Congress.
Pelosi, in her most recent financial disclosure form, reported that her husband owned between $250,000 and $500,000 of stock in AIG, which ceded majority control to the U.S. government this week in exchange for $85 billion of loans.
Kerry, the 2004 Democratic presidential nominee, disclosed that his wife, Teresa Heinz Kerry, had more than $2 million of AIG stock at the end of 2007, when shares were worth $58.30. AIG has fallen 85 percent this week to close yesterday at $2.69. The lawmakers’ aides didn’t respond to calls seeking comment.
Altogether, 56 senators and representatives had stakes in AIG, Lehman, Fannie Mae, Freddie Mac, Bear Stearns Cos. or IndyMac Bancorp Inc. — some of the biggest casualties of the market bloodbath — according to the Center for Responsive Politics. The most recent annual disclosure filings list investments as of Dec. 31, 2007, and reveal the size of holdings only within a range of values.
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