Showing posts with label stock market. Show all posts
Showing posts with label stock market. Show all posts

Wednesday, November 17, 2010

How Come Members of Congress Investments Made Money?

The rest of us were wiped out and they made a killing...

Stock holdings are among the assets covered in the report, and the investing tastes of Congress appear to be somewhat conventional, with large-cap, Dow 30 members dominating the widely-held list.

General Electric [GE 15.87 0.01 (+0.06%) ] , parent company of CNBC, is No. 1, with 82 current members of Congress listing it. Rounding out the top five are:Bank of America [BAC 11.729 -0.211 (-1.77%) ] (63), Cisco Systems [CSCO 19.58 0.145 (+0.75%) ](61), Proctor & Gamble [PG 63.415 -0.035 (-0.06%) ](61) and Microsoft [MSFT 25.745 -0.065 (-0.25%) ](54).

In another context, however, Beltway watchers might find it unsettling that some of the most widely-held stocks are those of companies at the center of the financial crisis in 2008-2009.


In addition to Bank of America, Goldman Sachs [GS 165.53 0.43 (+0.26%) ] , Wells Fargo[WFC 26.91 -0.28 (-1.03%) ] , JPMorgan Chase [JPM 39.19 -0.42 (-1.06%) ] and Citigroup[C 4.185 -0.035 (-0.83%) ] were popular holdings. All of them received funding under the TARP. Morgan Stanley, General Motorsand AIG are not on the list.

Another big sector is health care-drugs, which, like financial services, was the subject of major reform legislation in 2009.

Drug industry giants like Pfizer [PFE 16.5793 -0.0207 (-0.12%) ] , for instance, ranked seventh on the list, with 49 members disclosing ownership. RivalsJohnson & Johnson [JNJ 63.12 -0.02 (-0.03%) ] andMerck [MRK 34.6862 0.5862 (+1.72%) ] also made the list of 50 companies.

Monday, September 14, 2009

Obama crushes global stock market

Not satisfied in destroying the US economy, Obama decides to go global
World stocks shaken by US-China trade dispute