NYT: Disclosures Give Look at Candidates’ Personal Finances
By LARRY ROHTER
Published: June 14, 2008
Senators John McCain and Barack Obama released their Senate financial disclosure statements on Friday, revealing that Mr. McCain and his wife had at least $225,000 in credit card debt and that Mr. Obama and his wife had put more than $200,000 into college funds for their daughters.
The bulk of the McCains’ obligations stemmed from a pair of American Express credit cards that are held in Cindy McCain’s name. According to the disclosure reports, which present information on debts in a range rather than providing a precise figure, Mrs. McCain owed $100,000 to $250,000 on each card.
Another charge card, held by what was described as a “dependent child,” had also accumulated debts of $15,000 to $50,000. In addition, a credit card held jointly by the couple was carrying $10,000 to $15,000 in debt, the filing indicated, at a stiff 25.99 percent interest rate.
Under Congressional reporting rules, spouses of senators need not specify the exact amount of income they earn from employment, only whether that money exceeded $1,000. Neither Mrs. McCain, an heiress of the Hensley beer distribution company, nor Michelle Obama, a lawyer turned hospital administrator, provided additional information on their salaries in the disclosure form.
Mrs. McCain’s filing, however, indicated that she had substantial holdings in property and stocks — including shares in Anheuser-Busch, which this week became the target of a takeover bid that is expected to send its value climbing....
http://www.nytimes.com/2008/06/14/us/politics/14disclosure.html?_r=1&oref=login