» This Story:Read +| Comments
Post Politics
New home.
Still the best political coverage.
Page 4 of 4   <      

Lawmakers' committee assignments and industry investments overlap

Rep. Ron Paul, on a panel that deals with monetary policy, has invested in gold-mining firms.
Rep. Ron Paul, on a panel that deals with monetary policy, has invested in gold-mining firms. (Bill Clark - Roll Call/getty Images)
  Enlarge Photo    

Network News

X Profile
View More Activity
Discussion Policy
Comments that include profanity or personal attacks or other inappropriate comments or material will be removed from the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. Finally, we will take steps to block users who violate any of our posting standards, terms of use or privacy policies or any other policies governing this site. Please review the full rules governing commentaries and discussions. You are fully responsible for the content that you post.

Over the years, his investments in gold and related metal-mining have grown, according to his disclosure records. In 2004, he reported holdings in Goldcorp, Barrick Gold, Glamis Gold and Iamgold, worth $300,000 to $730,000. By 2007, he reported owning $768,000 to $1.7 million, with up to $1 million in Goldcorp alone.

This Story

The disclosure records for 2008 show that Paul reported $600,000 to $1.46 million in holdings in gold and metal-mining.

Paul serves as the top Republican on the Financial Services subcommittee on domestic monetary policy and technology. He said his personal holdings do not conflict with his policy advocacy because everyone has a right to look out for his own interests. He said his gold investments are logical and consistent with his views that the dollar will lose value because it's not backed up by anything.

"It's protection against the devaluation of the dollar," he said. "Everybody invests out of self-interest. That's not a story."

Paul played down the idea of creating additional rules to curb congressional investing, saying that lawmakers who wanted to could find a way around them. "The only way to deal with this is to put people in office with character," he said.

He said the real solution would be to cut government's influence over the private sector, making it harder for congressional decisions to have an impact on the markets.

"Government is so involved in everything we do in this economy," he said. "The only solution is getting the government out of things it should not be doing."


<             4


» This Story:Read +| Comments

More in the Politics Section

Campaign Finance -- Presidential Race

2008 Fundraising

See who is giving to the '08 presidential candidates.

Latest Politics Blog Updates

© 2010 The Washington Post Company

Network News

X My Profile
View More Activity