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Washington: Corker discloses millions in wealth
WASHINGTON — Sen. Bob Corker, R-Tenn., on Friday disclosed a net worth ranging from $19 million to $94 million on his 2007 personal finance disclosure.
The annual disclosure forms require members of Congress to list their assets, liabilities and income sources.
While the disclosure deadline was in late May, Sen. Corker received an extension.
“There were a number of documents from institutions Sen. Corker does business with that had not sent their data by the deadline, so we asked the Ethics Committee for an extension, and they granted it,” said Todd Womack, the senator’s chief of staff.
* Sen. Bob Corker, R-Tenn., member of the Senate Banking Committee: “I do believe, knowing what I know about the markets today, that something drastic has to be done right now to preserve the orderly functioning of the markets.”
* Sen. Lamar Alexander, R-Tenn.: “The solution must be big enough and clean enough to create confidence in the American financial system.”
* Sen. Saxby Chambliss, R-Ga.: “The cost of doing nothing could be greater to our economy as a whole.”
* Sen. Johnny Isakson, R-Ga.: “I will work hard to see to it that the action we take provides short-term financial stability and long-term financial security for the taxpayers of Georgia and their families.”
Sen. Corker disclosed assets totaling between $22 million to $105 million in real estate, hedge funds and mutual funds.
The senator also disclosed liabilities totaling between $3 million and $11 million, mostly in property mortgages.
According to their previously filed disclosures, Sen. Lamar Alexander, R-Tenn., reported a net worth between $13 million and $42 million; Sen. Saxby Chambliss, R-Ga., reported a net worth between $246,000 and $565,000; and Sen. Johnny Isakson, R-Ga., reported a net worth between $7.7 million and $22.9 million.
The Sunlight Foundation has criticized the personal finance disclosure forms for being too vague by requiring lawmakers to report amounts only in broad ranges.
The foundation is lobbying Congress to introduce stricter, more transparent disclosure rules.
“We put our (draft) bill online and got a lot of feedback from the public, and now we’re going and meeting with lots of members of Congress, trying to get them to support the bill,” said Gabriela Schneider, the foundation’s communications director.
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