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Isn't This Just Too Rich

leah's picture

And we do mean Too Rich, on every level.

Or, as Max Speaks: "The Vice President is bullish on America. Not.

And as the Kiplinger Report analyzes:

Vice President Cheney's financial advisers are apparently betting on a rise in inflation and interest rates and on a decline in the value of the dollar against foreign currencies. That's the conclusion we draw after scouring the financial disclosure form released by Cheney this week.

Okay, their wealth is probably in a blind trust, but it turns out, disclosure has its own blind spot.

As of the end of last year, Cheney and his wife, Lynne, held between $10 million and $25 million in Vanguard Short-Term Tax-Exempt fund (it's impossible to be more precise because the disclosure form lists holdings within ranges).(My emphasis)

The main point of the article seems to be that the Cheneys' advisors have similar holdings in a fund that invests in "mainly high-quality foreign bonds (predominantly in Europe) and rarely hedges against possible increases in the value of the dollar." As Max points out, that would be the "old" Europe.

President Bush and family aren't as rich as Cheney and family, but then George hasn't been as successful at corporate governance as has Cheney, succesful for himself, that is, he left Halliburton in a mess, although he has certainly been doing all he can as Vice-President to, uh, make it up to his former employer, and doesn't he still have some kind of stock options?

BTW, no wonder Bush thinks IRAs are such a good deal - his contains $87,074, although his Health Savings Account is only worth between $1,000 and $15,000. Why do I think this is a show account, and that the First Family is not depending on it as their only insurance against illness?

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