13 votes

How did Mitch McConnell's wealth go from 3.1 million to 27.2 million in 6 yrs?

Stock trades and the financial crisis

As Senate minority leader, McConnell was a point person once the stimulus moved to the Senate. When it looked like it was in jeopardy, Paulson worked the phones to salvage the deal. "The stimulus train is grinding to a halt," McConnell told reporters on Jan. 31, following several calls with Paulson in the previous week. That same day, he made trades worth between $60,000 and $200,000, rearranging four mutual funds and selling shares in an international fund, buying shares in another and reconfiguring investments in two domestic funds.

Response by McConnell

A spokesman said McConnell does not own individual stocks to avoid the appearance of conflicts and relies on an investment adviser to handle his trades.

More of the article: http://apps.washingtonpost.com/politics/capitol-assets/membe...

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"I dunno, ask AIPAC"

Generic answer in Washington

I have had up to 40% returns

I have had up to 40% returns on investments few times, but the problem is that there is a cap on how much you can invest in such high return venture, and a significant amount of risk involved.

To grow at this rate for 6 YEARS is unthinkable.

However, IT startups are generally low cost and can grow very quickly. An examination or his investments may show that he has one or two relatively big successes among them.

But I don't think this surprises anyone. If you're a senator you cannot help being an insider. People would consider him successful and want to emulate him. That is why we have to take our definition of 'success' beyond money as we are wont to do these days.

Until we equate money to success, this will continue, and so it will continue possibly till the end of time.

he took up gooseneck

he took up gooseneck modeling?

Lol!

!

He saved coupons and quit eating out?

It's amazing how fast those millions add up when you stick to a budget!

For some reason Martha Stewart comes to my mind.

Makes me wonder.

Insider trading was legal and

Insider trading was legal and really still is for Congress.
Didn't you know???
http://jurist.org/paperchase/2012/09/federal-judge-blocks-co...

www.google.com?&q=insider+trading+for+congress&oq=insider+tr...

“Any man who thinks he can be happy and prosperous by letting the government take care of him better take a closer look at the American Indian.” ― Henry Ford.