Elizabeth Warren, Worth Millions, Says Members Of Congress Shouldn't Own Stock

Elizabeth Warren Turns Out To Be A Member Of The 1 Percent

A crusader for the middle class, U.S. Senate candidate Elizabeth Warren's personal finances were bound to come under scrutiny. Warren raised eyebrows Thursday when she said she isn't a wealthy individual who owns a lot of stock.

"I realize there are some wealthy individuals -- I'm not one of them -- but some wealthy individuals who have a lot of stock portfolios," Warren, a Harvard professor, told MSNBC.

Warren was making a point that members of Congress either shouldn't own stocks, or should put them in a blind trust so that they are not drafting laws that benefit their own investments. But the financial disclosure report Warren filed last month shows that by most people's standards, she's pretty well off.

Warren earned more than $700,000 from Harvard, book royalties and consulting fees, and earns a rental income from a property valued between $1 million and $5 million, the report shows. She has multiple mutual funds and stock in IBM, the sole individual stock she owns. The total portfolio is worth nearly $8 million.

It turns out that the brainchild behind the Consumer Financial Protection Bureau, who has spoken out against corporate excess and in support of the Occupy Wall Street movement, is actually part of the 1 percent.

In a follow-up statement to multiple publications Friday, a campaign spokesman said, "Elizabeth was making the point that unlike many members of Congress, she does not have a broad portfolio of stocks in individual companies. If elected she'll get rid of the one stock she does own."

Warren is running for U.S. Senate on the principle of income equality, which she said Thursday is a defining issue in the 2012 elections.

"It's not finance. It's not economics. It's values," she said. Watch the full interview via MSNBC.

More election news from beyond the presidential field:

Pennsylvania governor makes an endorsement in crowded GOP Senate primary... [Roll Call]

... how the field will narrow [National Journal]

New poll shows Sen. Bill Nelson (D) leads Rep. Connie Mack (R) 42-32 percent in the Florida Senate race [The Hill]

Rick Perry is thinking about re-election, but his poll numbers are low [PPP]

Arizona state Sen. Frank Antenori (R) announced he'll run for Gabrielle Giffords' seat [Roll Call]

Texans billed $800,000 for Rick Perry's security during presidential run [USA Today]

GOP gubernatorial candidate Dave Spence caught saying the stimulus "saved our bacon" [Politico]

Joe Biden Says Democrats can win back the House [Politico]

Clarification: Language has been amended to describe more accurately Warren's real estate investments as disclosed in her campaign disclosure filing. This post previously used only the top value of the range indicated in the report, and failed to identify the property as being rented.

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