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Texas Rep. Joe L. Barton ’s campaign reported losing $703,500 in the financial markets last year. A large chunk of those stock market losses — $196,900 — were in shares of four companies that have a stake in the bills handled by the House Energy and Commerce Committee, where Barton is the top Republican.
Barton is one of a handful of House members whose campaign accounts are heavily invested in stock and bond markets, and, like many other investors, his campaign savings took a pounding when the stock market crashed. His campaign’s paper losses — which have not been locked in because the assets have not been sold — include $85,800 in General Electric stock, $68,400 in General Motors Corp. stock, $13,500 in Home Depot stock and $29,200 in stock in Lennar Corp., a home-builder that specializes in constructing houses that harness solar power.
More from Ken Silverstein:
Perspective — October 23, 2013, 8:00 am
How pro-oil Louisiana politicians have shaped American environmental policy
Postcard — October 16, 2013, 8:00 am
A trip to one of the properties at issue in Louisiana’s oil-pollution lawsuits
Estimated cost of the environmental damage caused each year by the world’s 3,000 largest companies:
Two thirds of U.S. teenagers experience uncontrollable rage.
Beekeepers began extracting 1 million honeybees living beneath the siding of a house in New York State.
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“Shelby is waiting for something. He himself does not know what it is. When it comes he will either go back into the world from which he came, or sink out of sight in the morass of alcoholism or despair that has engulfed other vagrants.”