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Wealthiest Member of Congress Reports Stock Transactions
Posted at 5:12 p.m. on April 17, 2013
Rep. Michael McCaul (R-Texas) is ranked by Roll Call as the wealthiest member of Congress, with an estimated 2011 net worth of a minimum of $300 million. He regularly reports his stock transactions as required by the Stop Trading on Congressional Knowledge (STOCK) Act. He has reported March stock transactions by his spouse, his dependent children, or himself. Here are only those above $100,000.
Purchasing Oracle Corp. ($100,001 to $250,000) twice; Molycorp Inc. DEL Due 6/1/2020 ($100,001 to $250,000) twice; Time Warner Inc. ($100,001 to $250,000) twice; D R Horton ($100,001 to $250,000); MRC Global ($100,001 to $250,000); and Digital Rlty TR Inc. ($100,001 to $250,000).
Selling Centerpoint Energy Inc. ($100,001 to $250,000) twice; American Casino Entmt Pptys SR SECD NT ($100,001 to $250,000); Energen Corp. ($100,001 to $250,000); Darden Restaurants Inc. ($100,0001 to $250,000); and Paychex Inc. ($100,001 to $250,000).
McCaul sits on the House Homeland Security Committee, the House Foreign Affairs Committee, and the House Science, Space and Technology Committee.
Because of changes made to the STOCK Act last week, this kind of simple Internet disclosure, as shown by the most wealthy member of Congress, will not be implemented for Congressional and executive branch staff. Two days after the measure was signed into law, the Securities and Exchange Commission is already investigating a stock surge linked to a lobbyist who was a former staff member of the Senate Finance committee from 2002-2010 and is well-connected to current Congressional staff. See Wall Street Journal article.
To search detailed money-in-politics databases, visit Political MoneyLine.