Multimillionaire Elizabeth Warren: I’m not wealthy

posted at 9:10 pm on January 27, 2012 by Allahpundit

Actually, I don’t think that’s what she’s saying here but that headline is simply too sweet to resist. (That was HuffPo’s original headline too before they changed it.) The quote from BuzzFeed:

“I realize there are some wealthy individuals – I’m not one of them, but some wealthy individuals who have a lot of stock portfolios” she told [Lawrence O'Donnell].

Hard to see how Warren wouldn’t be, by most standards, wealthy, according to the Personal Financial Disclosure form she filed to run for Senate shows that she’s worth as much as $14.5 million. She earned more than $429,000 from Harvard last year alone for a total of about $700,000, and lives in a house worth $5 million.

She also has a portfolio of investments in stocks and bonds worth as as much as $8 million, according to the form, which lists value ranges for each investment. The bulk of it is in funds managed by TIAA-CREF.

Here’s her financial disclosure form, which is brimming with TIAA-CREF mutual funds plus IBM stock valued somewhere between $100,000 and $250,000. The confusion comes when she says “I’m not one of them.” It sounds like she means “I’m not wealthy,” but all she actually means, I think, is “I don’t have a big stock portfolio.” Which is kinda sorta true: She’s got a hefty mutual-fund portfolio, but shares in a fund are different from shares in a company because the investment’s being managed by someone else and it’s spread out among hundreds or thousands of holdings. That’s not an insuperable obstacle to insider trading as a congressman — if you own a fund that invests in a single industry, legislation to benefit that industry as a whole will pay off — but it makes things more difficult. (A lawyer friend tells me that he’s allowed to invest in mutual funds at his firm but, for conflict-of-interest purposes, has to get approval for investments in individual corporations.) Her IBM shares are obviously a problem, but does that constitute a big investment in stock? Remember, for comparison purposes, we’re talking about a Congress here where bigwigs like Pelosi lay down $2 million on can’t-miss IPOs (via their spouses, of course).

Follow the BuzzFeed link and scroll down and you’ll see that Warren’s spokesman is framing her comments this way too. But who knows? Maybe I’m wrong and she really was moronically trying to insist that she’s part of “the 99 percent” despite her many, many millions in assets. That would fit with the Democratic narrative of things you can never be if you’re a liberal: Racist, “out of touch,” uncivil, rich. If that’s what she was trying to say, though, then she’s missing an opportunity. This pitch is more effective in Massachusetts coming from a would-be benevolent rich philosopher-king who wants to help the poor than as some sort of blue-collar “just folks” type who so happens to teach at Harvard. Ask the Kennedys.

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Rich people suck. Not really, but rich liberals who are liberals because they have so much guilt from their money and success, suck.

carbon_footprint on January 27, 2012 at 9:11 PM

Crazy eyes

wheelgun on January 27, 2012 at 9:12 PM

I had no trouble understanding what she meant. She is still a douche.

BL@KBIRD on January 27, 2012 at 9:15 PM

carbon_footprint on January 27, 2012 at 9:11 PM

Guilt or Hypocrisy?

ericdijon on January 27, 2012 at 9:16 PM

carbon_footprint on January 27, 2012 at 9:11 PM

Guilt or Hypocrisy?

ericdijon on January 27, 2012 at 9:16 PM

I think both, actually.

carbon_footprint on January 27, 2012 at 9:16 PM

I feel for the few sane people left in Massachusetts. They have to choose between Scott Brown and an ultra-socialist alleged non-millionaire millionaire.

Only in America, folks.

Myron Falwell on January 27, 2012 at 9:17 PM

…and that’s not intended as a complement toward Scott Brown. Far from it.

Myron Falwell on January 27, 2012 at 9:17 PM

Definitely not wealthy when it comes to brains.

stukinIL4now on January 27, 2012 at 9:18 PM

Honey, when you earn more in a year than a good many of your countrymen earn in a lifetime, you are wealthy. I don’t know who you think you’re fooling.

MelonCollie on January 27, 2012 at 9:18 PM

Elizabeth Warren -> Net Worth ~ $15 million

Michael Moore -> Net Worth ~ +$50 million

Sen. John Kerry(-Heinz), aka decorated War Hero -> Net Worth > $250 million

“We are the 99%!!!”

Or, as Bugs Bunny would say, “What a bunch of maroons!”

powerpickle on January 27, 2012 at 9:19 PM

Nobody dare attack her wealth. That would make you an OWS shill. Ask Newt.

portlandon on January 27, 2012 at 9:19 PM

So, you like her a lot more than you like Scott Brown, right?

(She wants to be the next Senator from MA. Brown was only a 2 yr. term, and has to run again.)

Fleuries on January 27, 2012 at 9:20 PM

You know, the sheer hypocrisy of the Dems in MA who choose to vote for this woman while they espouse OWS views is, I don’t know, glaring.

At least we on the right like profit. Or at least we did until Newt and Rick Parody started attacking it.

beatcanvas on January 27, 2012 at 9:21 PM

rich liberals who are liberals because they have so much guilt from their money and success, suck.

carbon_footprint on January 27, 2012 at 9:11 PM

http://www.rushlimbaugh.com/daily/2007/11/26/affluenza_survivor_thanks_rush

beatcanvas on January 27, 2012 at 9:23 PM

Time to keel haul the wench………..

dmann on January 27, 2012 at 9:24 PM

Just another limo liberal who knows best for the great unwashed.

Hey Warren! How about you and your colleagues taking a pay cut so the college can lower tuition costs? I mean, come on! Almost half a million a year in salary? Isn’t that “greedy”?

GarandFan on January 27, 2012 at 9:25 PM

Warren will beat Brown.
Because the people of Massachusetts are used to being lorded over by a wealthy elite who know whats best for them and they actually miss it when they don’t have it.
Just look at all their previous representation.

Such is life. Beyond help.

WryTrvllr on January 27, 2012 at 9:25 PM

http://www.rushlimbaugh.com/daily/2007/11/26/affluenza_survivor_thanks_rush

beatcanvas on January 27, 2012 at 9:23 PM

Awesome.

carbon_footprint on January 27, 2012 at 9:27 PM

If she owns stock in Fannie or the Freddie…or did…
She’s toast….Toast I tell ya!

Electrongod on January 27, 2012 at 9:27 PM

Perry tried this as a campaign issue, but it didn’t get much traction.

kunegetikos on January 27, 2012 at 9:29 PM

In the grand scheme of things she is not wealthy, or even well off – merely comfortable.

OldEnglish on January 27, 2012 at 9:36 PM

Yeah right! And she’s not ugly either!

KOOLAID2 on January 27, 2012 at 9:36 PM

I feel for the few sane people left in Massachusetts.

I don’t. There are 56 other states they could move to.

single stack on January 27, 2012 at 9:48 PM

And they still are the stingiest people in the world.

tomas on January 27, 2012 at 9:49 PM

Anyone care to explain why “$8.0m in stocks = bad” but “$8.0m in mutual funds = good”?

Maybe the Dem shills who talk about the “average person” paying 35% tax rate will explain.

BD57 on January 27, 2012 at 9:51 PM

She’s already getting worried about the taxes coming from the Liar-in-Chief.
She will have to go to John Kerry to get advice on how to avoid those taxes.

KOOLAID2 on January 27, 2012 at 9:52 PM

Ms 1 percent?

I’m so confused is this what she meant when she said she inspired the Occupy Wall Street movement?

Dr Evil on January 27, 2012 at 9:52 PM

I don’t. There are 56 other states they could move to.

single stack on January 27, 2012 at 9:48 PM

I was implying that the level of sane people is now basically in the hundreds. Hopefully only at double-digits in a few years time.

Myron Falwell on January 27, 2012 at 9:52 PM

Didnt John Mccain say 5 million is the difference between wealthy and not

Mormontheman on January 27, 2012 at 9:53 PM

That would fit with the Democratic narrative of things you can never be if you’re a liberal: Racist, “out of touch,” uncivil, rich

ding ding ding

cmsinaz on January 27, 2012 at 9:55 PM

We should confiscate every nicket these marxist parasites have acquired. We confiscate the ill-gotten gains from bank robbers and such. Warren is much worse.

Buddahpundit on January 27, 2012 at 9:58 PM

Buddahpundit on January 27, 2012 at 9:58 PM

Da, comrade!

OldEnglish on January 27, 2012 at 10:12 PM

Don’t give a damn how much money she has. I do give a damn that she’s obviously grossly overpaid.

kbh on January 27, 2012 at 10:29 PM

$5M house? Peasant!!
– Mittens

angryed on January 27, 2012 at 10:31 PM

What she really has is a great desire to run others lives…now that has value under the Obama regime.

d1carter on January 27, 2012 at 10:35 PM

“I am not wealthy.”
You are not much too look at either, Liz. A bit too “mousey” for my tastes.

Also, Liz, despite all your dee-grees, you aren’t all that smart, IMO.

And I doubt if you will ever become something greater than educated or smart – wise.

What is it with Hah-vahd and skanks?” Kagan? Liz Warren? Explains why there are so many homos at Hah-vahd.

Horace on January 27, 2012 at 10:37 PM

no wonder they call her the nutty professor.

deimos on January 27, 2012 at 10:39 PM

Nobody dare attack her wealth. That would make you an OWS shill. Ask Newt.

portlandon on January 27, 2012 at 9:19 PM

If you can’t understand that there’s a difference attacking a liberal redistributionist on his/her wealth for his/her hypocrisy then you aren’t a conservative.

haner on January 27, 2012 at 10:43 PM

That would fit with the Democratic narrative of things you can never be if you’re a liberal: Racist, “out of touch,” uncivil, rich.

Such falsehoods are easy to push when you have a Socialist; National Media to back you up.

Chip on January 27, 2012 at 10:52 PM

This Warren hag could at least afford some new spectacles if not cosmetic surgery.

Why do these liberals always look like slobs??

Reflection of psyche most likely ….

Sherman1864 on January 27, 2012 at 11:08 PM

I feel for the few sane people left in Massachusetts. They have to choose between Scott Brown and an ultra-socialist alleged non-millionaire millionaire.

Only in America, folks.

Myron Falwell on January 27, 2012 at 9:17 PM

It’s worse than that: imagine having to vote for Scott Brown and Mitt Romney on the same ballot. There’s not enough tequila in the world to get me through November 7.

Just Sayin on January 27, 2012 at 11:16 PM

$5M house? Peasant!!
– Mittens

angryed on January 27, 2012 at 10:31 PM

Actually, Mitt’s lakefront house here in New Hampshire is only worth $10-15 million.

And of that, the house itself is worth maybe half of that; the 800+ feet of prime waterfront land itself is worth the rest.

Standard disclaimer: I’m no Romney Shill, but I’ve actually seen his NH Estate and it’s nice, but nothing out of the ordinary compared to some of the many other “trophy homes” that have cropped up on Lake Winnipesaukee over the past 25 years. His friends the Marriotts have a spread up the lake from him that makes his place look like an outhouse.

It’s also interesting to note that Romney does not own a spread on the only other New Hampshire Lakes that have higher property values than the Big Lake. Probably because Lake Sunapee (right down the road from Dartmouth) and Squam Lake (aka “Golden Pond”) are both heavily Democrat.

Del Dolemonte on January 27, 2012 at 11:18 PM

This woman, Elizabeth Warren, embodies so fully what I despise about the elitist Marxist mentality that I don’t know where to start.

petefrt on January 27, 2012 at 11:19 PM

And let’s not forget the Brown-Warren “super pac” pledge….because the last people who should be allowed to engage in political speech are, well, the people.//

Just Sayin on January 27, 2012 at 11:20 PM

Actually, Mitt’s lakefront house here in New Hampshire is only worth $10-15 million.

Del Dolemonte on January 27, 2012 at 11:18 PM

Good lord someone start up a collection fund for the poor sap.

angryed on January 27, 2012 at 11:21 PM

If you can’t understand that there’s a difference attacking a liberal redistributionist on his/her wealth for his/her hypocrisy then you aren’t a conservative.

haner on January 27, 2012 at 10:43 PM

LOL.

This coming from a shill for the guy who is worth $300M and told unemployed people he too knows what’s it like to fear getting a pink slip.

PS: Your boy Willard wants higher taxes on $200K+. Obama and Warren want higher taxes on $250K+. Who’s the bigger redistributionist?

angryed on January 27, 2012 at 11:23 PM

“I’m not rich. Just look at my haircut and clothes – I look like a boy! Since when are boys rich? Nah, boys aren’t rich.” – Elizabeth Warren

The Nerve on January 27, 2012 at 11:56 PM

She’s not rich?

That’s rich.

Liar-esse.

profitsbeard on January 28, 2012 at 12:25 AM

she’s in the State that the scumbag Kennedy’s have owned for over half the 20th Century, yet they could do and say anything they wanted. They got their oligarchy thru…well it doesn’t matter because the Name is beyond recourse.

This is a non-issue for MA, but he can throw it out there as a bullet point listing a number of things.

John Kettlewell on January 28, 2012 at 1:54 AM

If it is wrong to make money without “working”, what does this say about the real Democrat view of Social Security?

{^_^}

herself on January 28, 2012 at 3:50 AM

She earned more than $429,000 from Harvard last year alone

My wife teaches at a university and we talk about this all the time. The place is crawling with OWS sympathizers (they even have “Occupy” spray painted in red on one of the permanent “sculptures” on campus), but there’s no better example of the income gap than universities like this one.

People like Warren pull in six figures while the bulk of the teaching is done by grad students making four figures (if they’re lucky) while running up huge student loans to pay their tuition/Warren’s salary. No long-term contracts, no heath care, no retirement. But these grad students campaign for communists (literally) while overlooking the school itself as a target for their anger.

saint kansas on January 28, 2012 at 4:41 AM

$$14.2 Multimillionaire Elizabeth Warren: “I’m not wealthy” YEAH RIGHT !!

UNFREAKINGBELIEVABLE !!

Liar
Hypocrite

How come Elizabeth Warren doesn’t “give back” ?? This woman is drowning in her own cash !!

Warren’s $=WEALTH=$ makes her opponent Sen Scott Brown
look like a ‘homeless guy’ by comparison !! :(

Scott Brown has a lot more in common with the little guy than Elizabeth Warren that’s for darn sure!!

BigSven on January 28, 2012 at 5:13 AM

Allah, you are going too easy. This is semantics. She has an $8 million dollar investment portfolio. It is semantics whether they are stock or bonds or mutual funds.

She is not in the 1%. She is in the .1%.

ReformedDeceptiCon on January 28, 2012 at 6:21 AM

Don’t you all get it?
Rich Democrats are cool.
Rich Republicans are evil.

Will someone please dig up all the articles relating to John Kerry, his wealth and running for President? The tone was John Kerry must be really smart to get that rich…

albill on January 28, 2012 at 7:27 AM

She can’t outrun the facts, she is part of the evil 1%. Even worse she is a liberal who supports the ideals of the OWS movement. The only way to correct this situation is to donate all of her worth to the reduce the deficit.

SC.Charlie on January 28, 2012 at 8:23 AM

What she means to say is that she’s not rich enough and it makes her mad. She has hit the wall of earning potential…but, she’s so damn smart…how can that fat, white, uneducated republican earn more than she does? It is a matter of fairness….

Or…the alternative explanation is that she’s just stupid and doesn’t get it.

mcra99 on January 28, 2012 at 8:38 AM

How can you tell when a liberal is lying? Their lips are moving..
Hey if Scott Brown can get a bill passed that says Congress can’t own stocks while in office I would be ok with that.

mmcnamer1 on January 28, 2012 at 9:09 AM

“It’s wrong the way Romney makes money.”

This quote is all you need to know about what the Democrats have planned if they take the three branches of government again. CONTROL. It’s okay if they make a million, but they’ll do anything they can to keep the poor man poorer and dependent on them, the government.

Obama’s minions will tell us what we deserve to make, what we can write, what we are allowed to say online, what we can drive, where we are going to live, and hey media, they’ll be telling you what you can or can’t write. Oh wait, they’re already doing that.

IT’S AN OBAMA WORLD!

Atlanta Media Guy on January 28, 2012 at 9:14 AM

Everyone else that IS really wealthy should be taxed at a higher rate. Oh I get it. /

CW on January 28, 2012 at 9:23 AM

It’s a ridiculous statement. She is obviously wealthy and falls into the “1%” category.

TouchdownBuddha on January 28, 2012 at 9:31 AM

Everyone else that IS really wealthy should be taxed at a higher rate. Oh I get it. /

CW on January 28, 2012 at 9:23 AM

Only the Republicans…

Fallon on January 28, 2012 at 9:35 AM

She earned $429K from Harvard last year is why college tuition at many of our institutions of higher learning are too damn high. The president in his last big speech left people with the idea that colleges just raise tuition for no good reason at all. When you don’t know much about a subject, it’s best to keep your mouth shut.

Kissmygrits on January 28, 2012 at 10:05 AM

Has a Kennedy ever disclaimed on inheriting part of the great illegal fortune amassed by Joseph P. Kennedy? Has a Kennedy ever stepped off the liberal plantation?

SC.Charlie on January 28, 2012 at 10:28 AM

What sucks the worst is that she gets rich while not producing anything of value.

She gets six figures for sitting around Harvard thinking up new high-minded ways to screw up the country.

PortlandJon on January 28, 2012 at 10:33 AM

Who gives a crap about how much money this socialist has, it is her cock-eyed political philosophy that is objectionable.

Wade on January 28, 2012 at 10:42 AM

It’s also interesting to note that Romney does not own a spread on the only other New Hampshire Lakes that have higher property values than the Big Lake. Probably because Lake Sunapee (right down the road from Dartmouth) and Squam Lake (aka “Golden Pond”) are both heavily Democrat.

Del Dolemonte on January 27, 2012 at 11:18 PM

What’s interesting to note about that? I own a place across the lake from Romney and don’t own a place on Sunapee or Squam either. I didn’t check voter registrations before I bought on the big lake (i.e. the one nobody can spell) either. ;-)

rhombus on January 28, 2012 at 10:49 AM

Typical democrat: “this plan is for everyone else, not for me, I’m not one of the rich”

Dollayo on January 28, 2012 at 11:22 AM

Typical Liberal double-talk and “here’s what we need to do to them but not to me” B.S. I’m sure Debbie Wasserman Schulz can explain the point Warren was trying to make. Debbie’s soooo good at explaining the Dem’s position: Dem’s = good; Repubs = evil. So it is with Ms. Occupy Wall Street herself, Elizabeth Warren. I believe it is time the OWS movement makes a visit to the Grand Mother of the movement.

HoosierStateofMind on January 28, 2012 at 12:05 PM

Clueless.

Tom C on January 28, 2012 at 2:30 PM

At least we on the right like profit. Or at least we did until Newt and Rick Parody started attacking it.

beatcanvas on January 27, 2012 at 9:21 PM

LOL I like it ! :)

cableguy615 on January 28, 2012 at 2:31 PM

Typical democrat: “this plan is for everyone else, not for me, I’m not one of the rich”

Dollayo on January 28, 2012 at 11:22 AM

….or as Whoopie Cushion Goldterd would say ” She isn’t rich rich.”

cableguy615 on January 28, 2012 at 2:33 PM

I really can’t get excited about a wealthy democrat that might beat a RINO. Just like a wealthy Rino running for Pub. Potus. I can’t get excited if he were to lose to Obama.

they lie on January 28, 2012 at 4:30 PM

I really can’t get excited about a wealthy democrat that might beat a RINO. Just like a wealthy Rino running for Pub. Potus. I can’t get excited if he were to lose to Obama.

they lie on January 28, 2012 at 4:30 PM

If you don’t know the difference between Moderate Republicans and Marxists, you’re a damn fool.

MrLynn on January 28, 2012 at 4:58 PM

I would love to know who Elizabeth Warren thinks she’s telling this fairy tale to.

RebeccaH on January 28, 2012 at 5:48 PM

My question to her and all 99% pretenders:

If it turns put your wealth puts you in the 1%, will you give that surplus away?

Should be a nobrainer for anyone who claims not to belong to the 1%. but only an issue for liars .

huntingmoose on January 28, 2012 at 7:10 PM

If you don’t know the difference between Moderate Republicans and Marxists, you’re a damn fool.

MrLynn on January 28, 2012 at 4:58 PM

If you think he’s a Moderate Republican, I’ve got some beachfront property in Iowa I’d like to sell you…

MelonCollie on January 29, 2012 at 12:16 PM