Hmmm? How Did Harry Reid Get Rich?

[Irving]

I don't understand. This is how a lot of people get rich. Are you just upset that he has used his position in congress to affect the value of his investments? I understand being mad about that, but not the rest. The first couple of paragraphs of that article are stupid.

Imagine that someone grows up in poverty, works his way through law school by holding the night shift as a Capitol Hill policeman, and spends all but two years of his career as a public servant. Now imagine that this person’s current salary — and he’s at the top of his game — is $193,400. You probably wouldn’t expect him to have millions in stocks, bonds, and real estate.

This is the most dumb part of the article. You don't need to have millions of dollars in order to purchase investments that are worth millions of dollars. What he gets paid by congress, doesn't have anything to do with how much money he is able to make with the money he does get paid.

[Danimal]

I don't understand. This is how a lot of people get rich. Are you just upset that he has used his position in congress to affect the value of his investments? I understand being mad about that, but not the rest. The first couple of paragraphs of that article are stupid.



This is the most dumb part of the article. You don't need to have millions of dollars in order to purchase investments that are worth millions of dollars. What he gets paid by congress, doesn't have anything to do with how much money he is able to make with the money he does get paid.

That is one hell of a return on investment. Maybe he should teach Warren Buffet a thing or two about investing and show him how to make some real money.

[jhood001]

Are you just upset that he has used his position in congress to affect the value of his investments? I understand being mad about that, but not the rest.

Yes, and only that. I agree that anyone can (and should) invest. My issue here is that because of his position, he has increased the value of his investments through his position and also shielded himself from losses that the rest of us would have taken had we invested in the same things.

And as I said in my original post - I never liked him much anyway.

[tmckay2]

if you really want to know the crux of his money making, im talking all the way back to even getting to where he is to make the money, you need to look at his relationships with union bosses.