More Info on Financial Disclosures: Clinton, McCain, Romney All Rolling in Cash


We blogged a while back about the financial disclosures of many of the candidates, noting that some folks — including Romney, McCain, and Clinton — were granted extensions in filing their paperwork. We now have more information.

Hillary Clinton and Bill Clinton have assets valued from $10 million to $50 million (the massive window is a product of FEC rules) with the former president raking in speaking fees of more than $10 million in just the last year. The bulging bank account comes after the pair left the White House with millions in debt from legal fees. Two days ago I hit Senator Clinton pretty hard for being the “Big Money” candidate in the Democratic primary, so it’s worth noting that she’s made a bid for some financial transparency — along with Bill, she has liquidated a family trust worth between $5 million and $25 million that had investments in oil and pharmaceutical companies, military contractors, Wal-Mart, and FOX News parent company News Corp. The cost of avoiding future conflicts of interest (and being hit for investing in decidedly non-progressive entities) is substantial, because of capital gains taxes the Clintons will have to pay.

Elsewhere, filings showed that the McCain family has $24.3 million in assets, almost all held by Cindy McCain and the McCain children. Cindy McCain controls an Anheuser-Busch distributorship in Arizona that is said to be among the largest in the nation.

And former Bain executive Mitt Romney is worth the most out of the bunch, with assets totaling $190 million to $250 million. Yahtzee!

DOES IT FEEL LIKE POLITICS IS AT A BREAKING POINT?

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It sure feels that way to me, and here at Mother Jones, we’ve been thinking a lot about what journalism needs to do differently, and how we can have the biggest impact.

We kept coming back to one word: corruption. Democracy and the rule of law being undermined by those with wealth and power for their own gain. So we're launching an ambitious Mother Jones Corruption Project to do deep, time-intensive reporting on systemic corruption, and asking the MoJo community to help crowdfund it.

We aim to hire, build a team, and give them the time and space needed to understand how we got here and how we might get out. We want to dig into the forces and decisions that have allowed massive conflicts of interest, influence peddling, and win-at-all-costs politics to flourish.

It's unlike anything we've done, and we have seed funding to get started, but we're looking to raise $500,000 from readers by July when we'll be making key budgeting decisions—and the more resources we have by then, the deeper we can dig. If our plan sounds good to you, please help kickstart it with a tax-deductible donation today.

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Signed by Clara Jeffery

Clara Jeffery, Editor-in-Chief

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