| Bush aids finances detailed { June 16 2003 } Original Source Link: (May no longer be active) http://www.washingtonpost.com/wp-dyn/articles/A2419-2003Jun16.htmlhttp://www.washingtonpost.com/wp-dyn/articles/A2419-2003Jun16.html
Bush Aides' Finances Detailed in Reports
By LARRY MARGASAK The Associated Press Monday, June 16, 2003; 9:16 PM
WASHINGTON - Except for top economic adviser Stephen Friedman, members of President Bush's inner circle are not rich, although most are better off than the majority of Americans, financial disclosure reports showed Monday.
Top political adviser Karl Rove earns money from serving up muffins as well as political advice. He owns the River Oaks Lodge Bed and Breakfast in Ingram, Texas, which earned him between $50,001 and $100,000 last year. He also has mutual funds worth $700,000 to over $1.6 million.
White House press secretary Ari Fleischer received two expensive tickets to a Washington Wizards basketball game from Defense Secretary Donald Rumsfeld, a value of $480. This more than doubled the $200 value he listed for a bowl signed by the president and first lady.
Fleisher's biggest investment was a Washington property valued between $100,001 and $250,000, earning him between $1,001 and $2,500 from a basement rental. No other investment was worth more than $50,000.
The disclosure forms, for 2002, only require reporting in broad ranges rather than precise amounts of investment income and values.
National Security Adviser Condoleezza Rice received an extension to file her report.
Chief of Staff Andrew Card Jr. valued three of his mutual funds between $100,001 and $250,000 each, one of them a retirement account. His largest investment income, $15,001 to $50,000, came from renting a two-family home in Holbrook, Mass. Income from his other investments earned less than $5,000.
Joshua Bolten, deputy chief of staff nominated as White House budget director, reported a vacation home in Key West, Fla., valued between $500,001 and $1 million. He earned between $15,001 and $50,000 in rent, but also listed a mortgage of $250,001 to $500,000. He listed two other investment funds with the same value range as the vacation property.
Lewis Libby, assistant to the president and chief of staff to Vice President Dick Cheney, is better off than most White House staff members. He owns an investment of municipal bonds worth between $1 million and $5 million that earned interest between $100,001 and $1 million. He also listed a money market fund worth between $1 million and $5 million.
Friedman's riches are not surprising, considering he came to the administration from the Goldman Sachs investment firm, where he was co-chairman.
The head of the National Economic Council listed more than $50 million in the Goldman Sachs Financial Square Federal Fund, which earned him between $100,001 and $1 million.
He sold Mosaic Group Stock, an investment that earned him more than $5 million, and made $5 million from the sale of Insight Capital Partners, which owned software and technology firms.
© 2003 The Associated Press
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