Network News

X My Profile
View More Activity

Money Where
His Mouth Isn't

Oh, those pesky mutual funds.

Designed as they are to spread out risk among a large number of investments, they also spread out the potential for conflict between a politician's stated principals and his financial holdings. Former Massachusetts governor Mitt Romney found that out this week, when his newly released financial disclosure reports showed he owned mutual funds that invest in a stem cell company. Romney is opposed to the use of embryonic stem cells.

Now, it appears that another candidate has been caught with his investment hand in the same cookie jar.

Kansas Sen. Sam Brownback, whose declarations of opposition to stem cell research are even more intense than Romney's, owns a mutual fund (American Funds Capital World Growth and Income Fund) which invests in the same company, Novo Nordisk. The company describes itself as an "active partner in national and international cooperative projects involving stem cells."

Brownback's financial disclosure lists him as owning between $1,001 and $15,000 worth of the mutual fund, far less than the $100,000 to $250,000 that Romney owns.

Aides to Brownback note that the disclosure form indicates "DC" next to the entry, indicating the fund in question is owned by one or more of the senator's dependent children -- his kids, not him.

"The fund in question was not owned by Senator Brownback or his wife. It was owned by one of his children, who was unaware of the issue. The broker has already been contacted and instructed to sell the fund," said Brownback spokesman Brian Hart.

--Michael D. Shear

By Washington Post editors  |  August 15, 2007; 10:25 AM ET
 
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz   Previous: What Republicans See in Obama
Next: A Conversation With Obama

Comments

I am proud to be an American when I see the way the Iowa straw poll seemed to cut through some of the hype created by the media that was in favor of the over financed candidates.

Back about 1915 or so we had a politician named Woodrow Wilson that accepted a bribe to create the Federal Reserve. They were a group of very powerful bankers and businessmen from around the world at the time. Through the monopoly of being the source of our money and by being outside of our government, or paying any taxes, they have built up a fortune that, I believe, includes owning most of the politicians of the world.

It is going to take a determined, We the People, to restore law and order in our government before we can restore law and order in our streets.

"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world. No longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men."

-Woodrow Wilson

Posted by: Stokeybob | August 15, 2007 7:18 PM | Report abuse

The comments to this entry are closed.

 
 
RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company