How did Mitch McConnell's wealth go from 3.1 million to 27.2 million in 6 yrs?Submitted by ralph hornsby on Mon, 04/01/2013 - 00:46
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...