Wynn Discloses Modest Holdings
Ex-House Member's Assets at Low End in Financial Reports

By Mary Beth Sheridan and David A. Fahrenthold
Washington Post Staff Writers
Tuesday, June 17, 2008

In case anyone was wondering why Albert R. Wynn quit Congress early to join a major lobbying law firm, another possible clue emerged yesterday.

The House of Representatives released members' 2007 financial disclosure forms and Wynn once again appeared near the bottom of the wealth rankings. He reported just one asset, a Maryland college fund account worth $1,001 to $15,000. He listed credit card debt in the same range.

The eight-term Democrat, who lost a primary this year, stunned colleagues by announcing that he would leave Congress by June to become a partner at Dickstein Shapiro. The firm's partners on average make slightly more than $1 million a year, according to a survey by American Lawyer.

Reached at his new office, Wynn said, "I really don't have any comment" about the move, which created the need for a special election in Maryland's 4th Congressional District.

The disclosure forms required lawmakers to check off ranges of the value of assets belonging to them and their spouses, making it difficult to pinpoint their wealth in some cases. Still, the forms give a glimpse of how some lawmakers' fortunes have improved in recent years while others have taken a turn for the worse. The Senate released similar forms Friday.

Rep. William J. Jefferson (D-La.), who was indicted by a federal grand jury last year on charges that he used his position to solicit bribes, saw his legal defense fund take in $20,300 last year, down from $56,250 in 2006.

Jefferson, who is running for reelection as he awaits trial, owes a hefty sum to Robert Johnson, the billionaire founder of Black Entertainment Television, according to the forms. He took a personal loan from Johnson worth $100,000 to $250,000 in 2006, and he still listed that amount as a debt in the report yesterday.

Rep. John T. Doolittle (R-Calif.), whose home in Virginia was raided last year in connection with the probe of imprisoned lobbyist Jack Abramoff's ties to Congress, reported $15,001 to $50,000 in credit card debt, a similar range to what he reported last year. The Justice Department is examining work his wife's fundraising business performed earlier this decade for Abramoff. Doolittle has denied any wrongdoing.

Doolittle reported donations of $66,000 to his legal defense fund last year. They included a $5,000 contribution from House Minority Leader John A. Boehner (R-Ohio) in the last quarter of 2007.

Among Washington area House members, the disclosure forms indicated how the financial picture has improved for Rep. James P. Moran Jr. (D-Va.) since his 2004 marriage to LuAnn L. Bennett. Moran listed no assets in his name but reported holdings in his wife's name worth $5.4 million to $25.1 million.

Bennett is president of the Bennett Group, a real estate and development firm based in Georgetown. Her liabilities, according to the forms, were $1.75 million to $3.5 million. They included a mortgage on a home in Fauquier County.

Moran's personal debts led him into politically embarrassing transactions in previous years. In 1998, for instance, Moran averted bankruptcy through a $447,000 mortgage refinancing package from the lender MBNA that loan experts called overly generous. The loan was granted as Moran was supporting a bankruptcy bill favorable to MBNA and other large credit card companies.

Moran has denied wrongdoing, and the House ethics panel declined to review the matter. Moran has said he repaid the loan.

Several House members from the area reported little change in their financial situations. Rep. Steny H. Hoyer (D-Md.), the House majority leader, reported a state government pension of $20,481 in 2007 and total assets of $334,000 to $760,000, similar to his statement in 2006.

Lawmakers were not required to list the value of their personal residences.

Rep. Chris Van Hollen (D-Md.) listed assets worth $149,000 to $492,000. Among the few changes in his disclosure form was the sale of stock in Pfizer, Johnson and Johnson and Dow Chemical, which brought in $3,003 to $45,000.

Van Hollen sold the stock "to complete a renovation project on his house," said his spokeswoman, Marilyn Campbell.

Del. Eleanor Holmes Norton (D-D.C.) reported assets valued at $803,000 to $2.1 million, similar to her totals from last year. The assets included annuities and other retirement investments.

Among Virginia legislators, Frank R. Wolf (R) and his spouse reported assets valued at $578,000 to $627,000. Tom Davis (R), who is retiring, had assets worth $697,000 to $1.6 million, according to disclosure forms. That compared with listed assets last year of $952,000 to $2.2 million.

Staff writers Paul Kane and Shailagh Murray and staff researchers Alice Crites and Magda Jean-Louis contributed to this report.