Mollohan, Rockefeller Rank High in Riches
By JOSELYN KING Political WriterWHEELING - Two members of Congress representing West Virginia are among the wealthiest in Washington.
U.S. Sen. Jay Rockefeller and U.S. Rep. Alan Mollohan, both D-W.Va., rank high on a list of the richest members of Congress compiled by the Center for Responsive Politics.
The non-profit, non-partisan organization has assessed financial reports required of each congressional member, and used the data to rank them from richest to least wealthy.
Rockefeller is listed as being the fourth wealthiest in the 100-member U.S. Senate.
He is eighth richest overall among the 535 members in Congress, based on his reported net worth.
Mollohan, meanwhile, is placed at 24th among the richest House members, which total 435.
U.S. Rep. Charles Wilson, D-Ohio, ranks 42nd in the House; Rep. Shelley Moore Capito, R-W.Va., 155th; and Rep. Zack Space, D-Ohio, 217th.
Among others in the U.S. Senate, George Voinovich, R-Ohio, ranks 58th; Robert C. Byrd, D-W.Va., 79th; and Sherrod Brown, D-Ohio, 92nd.
But it is Mollohan's financial report that proves the most intriguing. He is listed as having a net worth of up to $27.2 million - or he could be in debt as much as $267,981.
The Center for Responsive Politics acknowledges in its data that it is difficult to gauge what a federal lawmaker is worth based on what they are required to file because "the disclosure forms do not require exact values."
Instead, lawmakers report the range of value into which an asset falls. And as the values increase, the ranges get broader.
To calculate net worth, the center added together the lawmaker's range of assets and then subtracted their range of liabilities. The midpoint of the resulting range was used to figure the overall rank of the filers.
- Mollohan reports his assets at $7.1 million to $29.3 million, but also lists liabilities at $2.1 million to $7.35 million.
He lists among his assets The Remington condominium complex he owns in Washington, D.C., which he values at $3 million to $15 million; deposits on two units at the Preserve Condo in Southport, N.C., at $1 million to $5 million; MNM Holdings, which includes the Ramada Inn in Morgantown, at $1 million to $5 million; and two properties at Bald Head Island, N.C., each valued at $500,001 to $1 million.
Among his liabilities, Mollohan lists the mortgage on apartment units at Remington Inc. at $1 million to $5 million, with the mortgage being held by United Bank of Virginia. He also notes a second mortgage at NewBridge Bank for $500,000 to $1 million, along with various other liabilities.
Mollohan's financial forms were completed earlier this year. Just recently, at least one of the properties at Bald Head Island was foreclosed upon by NewBridge Bank.
That property was owned by Mollohan and one of his former staffers, Laura Kurtz Kuhns. Kuhns now runs the Vandalia Heritage Foundation, for which Mollohan secured federal funding to create in 1998.
- Rockefeller's net worth is listed as being between $60.2 million and $128.4 million by the center.
His assets are listed at $85.7 million to $133.67 million, with the largest being his stake as a J.P. Morgan Chase Bank trustee being valued at $50 million; his position as a Wachovia Bank trustee, $25 million to $50 million; and his share in United National Bank, $5 million to $25 million, among other assets.
Rockefeller also lists liabilities of $5.25 million to $25.5 million. These include a "demand loan" of between $5 million and $25 million from United National Bank, and a second loan of between $250,001 and $500,000 from J.P. Morgan Chase Bank.
A demand loan is defined as a loan that is repayable on demand when requested by the bank, rather than on a specified date.
- Wilson reports his net worth at $1.7 million to $11.8 million. His report lists assets of $2.7 million to $12.3 million and liabilities of $500,000 to $1 million.
Wilson values Wilson Funeral and Furniture at $1 million to $5 million, and his stake in National Financial Services at $1 million to $5 million.
He also lists having a mortgage on Adolph Group Real Estate at $500,001 to $1 million.
- The net worth for Capito is listed at between $284,064 and $2.3 million.
She lists 58 assets totaling $884,064 to $2.57 million, with the largest of these being a stake in Citigroup Inc. valued at between $150,003 to $351,000.
Her liabilities total $230,004 to $600,000, and include a mortgage on property of between $100,001 and $250,000.
- Voinovich has a reported net worth of $665,055 to $2.3 million, according to the center, and has no liabilities.
His assets include condominium rental property valued at $100,001 to $250,000.
- Space's net worth is listed at between $86,013 and $1.26 million.
He has assets of $536,013 to $1,44 million, mostly being comprised of a state of Ohio Deferred Compensation Plan worth $100,001 to $250,000, and two real estate properties valued at the same amounts.
His liabilities, consisting of two mortgages and two credit cards, total $180,004 to $450,000.
- Byrd reports a net worth of $415,004 to $900,000 that is equal to his assets. He has no liabilities.
- Brown has a listed net worth of $65,009 to $275,000. He also has no outstanding liabilities.
The richest member of Congress is reported to be U.S. Rep. Darrell Issa, R-Calif., who has an estimated net worth of between $164.6 million and $251 million.
The least wealthy, according to the data, is U.S. Rep. Alcee Hastings, D-Fla., whose net worth is listed at somewhere between $-7.4 million and $-2.1 million, meaning his liabilities outweigh his assets.
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Zipperhead
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12-15-09 2:10 PM
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Looks like my free health care is gettin closer and closer to becoming a reality. Maybe those very smart people that told me to vote for Obama knowed what they was a talkin' about. Now just holding out for a job, car and free house. Yipee.
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Shark88
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12-14-09 11:19 PM
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Expect significant losses among the democrats in next year's elections. It can't come soon enough.
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Graysongs
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12-14-09 11:08 PM
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robo - I guess those elections in Illinois and Delaware would be ones to watch for next year. If their party loses those, he11, maybe all the Dems could hide out in the Honduran embassy until they can arrange for safe passage to Cuba or someplace?
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Graysongs
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12-14-09 10:25 PM
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Reactionary - I thought the same when it was said that Byrd "wrote a book". He's more likely to eat the crayons!
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Reactionary
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12-14-09 10:19 PM
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And just WHO wrote the "Asphalt King's" book(s) for him? He don't even know when he 'crapped' last!
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Reactionary
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12-14-09 10:17 PM
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atoddh---Wake Up!!! Demikrat, Rethuglican, G/D Independant! All these clowns ARE OWNED by some "special interest", somewhere. Maybe by three or four! But EVERY Congress/man(woman) and Senator is OWNED,...bought and paid for. ALL OF THEM!
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atoddh
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12-14-09 9:36 PM
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It is good to have independent reps as they do not have to pander - sell out - to special interests to finance campaigns. Senator Byrd has done well with his recent books which are very interesting and well done;very personal.
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robojock
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12-14-09 9:21 PM
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Illinois Republican leaders have been pounding Democrats for widespread corruption in the state's government, noting Mr. Giannoulias' ties to real estate developer and Democratic fundraiser Tony Rezko, who was convicted last year of fraud and money laundering. "His family bank, where Alexi served as an officer, made loans to Tony Rezko, who is now sitting in a penitentiary," Republican state chairman Pat Brady said.
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robojock
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12-14-09 9:20 PM
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Polls show Dems might lose Obama, Biden Senate seatsRate this story Republicans seek strongest candidates for key midterm ballots President Obama and Vice President Joseph R. Biden Jr. won't be on the midterm ballot next year, but their former Senate seats will be, and both races are now either tossups or leaning Republican in high-visibility contests. Mr. Obama, who was a freshman senator from Illinois when he was elected president, and Mr. Biden, who was in his sixth term as a senator from Delaware, come from states that have been running strongly Democratic in past elections. No one doubts that Mr. Obama would have been a re-election shoo-in had he remained in the Senate and that Mr. Biden had his seat for the foreseeable future
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robojock
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12-14-09 9:16 PM
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What is said is when a fool cheers a 26% approval rating!
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robojock
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12-14-09 9:09 PM
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I wonder if the racist in chief sealed the grade he gave himself?
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formerohvalleyresident
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12-14-09 8:38 PM
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Sarah Palin's latest book "Going Rouge" 3 MILLION Copies sold to date. Al Gore latest book "Assault on Reason" 40,000 copies sold to date. BBBWAAHAHAHAHAHAHAHA! Who da Loser, Who da Loser? The Boring Gorecal is Sarah's biache now, LOSERS!!
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Reactionary
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12-14-09 8:35 PM
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HEY,.....CHURCH LADY!!!!! I see you ridicule the church of St. Peter! What did he ever do to you? You mock the Holy Catholic Church of Rome! The Absolute Mother of ALL Christian Churches; and you call yourself a good "church going" Christian. What's up with that? Where do you go on Sunday? To one of those 'rattlesnake and bonfire' churches, out the crick? Gotta lotta GALL there,...."CHURCH LADY"!
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Reactionary
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12-14-09 8:23 PM
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zippie---I'm looking at the 14th Amendment, right now. And NO WHERE do I see that the Federal Govt. will "INVADE" any soveriegn State, of the United States of America.
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formerohvalleyresident
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12-14-09 8:04 PM
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Rasmussen: 12/14/09 Forty-two percent (42%) Strongly Disapprove giving Obama a Presidential Approval Index rating of -18. That’s a one point improvement from yesterday when Obama’s Approval Index rating fell to the lowest level yet recorded. New York Times: 12/13/09 President Obama and Vice President Joseph R. Biden Jr. won't be on the midterm ballot next year, but their former Senate seats will be, and both races are now either tossups or leaning Republican in high-visibility contests. L M F A O watching you loser’s delusions of grandeur!
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Graysongs
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12-14-09 7:58 PM
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tinkerbell - You don't get paid? He11, you need to go demand Mike Myers put you on the gravy train. Or maybe he only pays conservatives to post? Yes, sir, this is one of the easiest job I ever had!
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Graysongs
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12-14-09 7:53 PM
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wonderwhy - Now you've done it. Fr. Hoopie ain't gonna like that "catholic" jab! Of course since you're a lefty dem, he'll overlook it most likely.
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formerohvalleyresident
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12-14-09 7:49 PM
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Ziplock, since about 75% of the military voted against YoBlama, I think we all what direction the guns will be pointing if the Pantywaste in Chief tries to reverse Posse Comitatus!
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wonderwhy
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12-14-09 7:42 PM
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I love the insults about babysitting too. Yea, it's a bad thing to care for children. unreal
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wonderwhy
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12-14-09 7:41 PM
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but then again, he is a catholic that supports priest that do those sorts of things, go figure!
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wonderwhy
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12-14-09 7:41 PM
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rump rangers, q ueer sex, yeppers. we all know what gaysongs in dreaming about. !
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Graysongs
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12-14-09 7:34 PM
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tinkerbell - Hmmmm? I have a REAL college degree, not a "degree in babysitting". But BoyObaMao's pal Kevin Jennings is one of your kind and wants all manner of deviant practices taught to school children. Well, most folks don't want that perversion in our public schools and might just "rebel" over paying for it. The q u e e r brigade just doesn't want people to hear about any of it so that they can keep getting away with it. Pathetic diseased losers.
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Graysongs
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12-14-09 7:29 PM
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Tinkerbell - Individual sovereign states have all the governing powers which are not expressly granted to the federal government. States are only forcing the federal government to live within the terms of the agreements. Of course, that would lead a totalitarian central government to declare a "state of rebellion". The King of England didn't like it much, either. Ah, well, as they say, "tough shiat".
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Graysongs
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12-14-09 7:22 PM
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Reactionary - That was when tinkerbell suggested that any state that didn't buckle under to "Dear Leader" would be invaded by a federal army. These little q u e e r s look for far reaching totalitarianism as their salvation.
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JamesT
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12-14-09 6:08 PM
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Loved Palin on Conana when she socked it to Captian Kirk! Man what a classy lady!
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