By Reid Wilson - 06/11/09 10:22 AM EDT
House Speaker Nancy Pelosi (D-Calif.) is not immune to market fluctuations, according to her personal financial disclosure report, filed last month.
The disclosures, which were accidentally made public this week before the scheduled Friday release, show Pelosi still boasts a healthy net worth, but she and her husband, Paul, took serious hits as the stock market plummeted in 2008.
AIG stock closed on the last trading day of 2007 at $58.30. Throughout 2008, the stock fell more than 97 percent, ending 2008 trading at just $1.57. That day, Paul Pelosi sold part of the couple's stock in the company, incurring a massive capital gains loss.
Still, the House Speaker and her husband, a San Francisco businessman, have ample holdings to see them through. The pair own two commercial properties in San Francisco, another in Marin County, north of the city, and a home near Lake Tahoe, all valued at more than $1 million.
They also own a vineyard in Napa Valley, valued at between $5 million and $25 million. That property earned them between $100,001 and $1 million last year in grape sales alone.
The couple still owes between $8.75 million and $41.5 million in mortgages on a total of six properties, according to the reports. Investment accounts and two lines of credit with banks bring the Pelosis' liabilities up to between $12.75 million and $58.5 million.
Paul Pelosi absorbed some other big financial hits last year. He lost between $100,001 and $1 million in a Massachusetts limousine company; a real estate investment company in San Francisco; and a natural gas and oil investment firm based in Oklahoma City. The Pelosis also lost up to $50,000 on an investment in General Electric, which they sold in November 2008 after the stock dropped more than 60 percent during the year.
Lawmakers are required to detail their assets in given ranges instead of specific dollar amounts. The Pelosis have between $25.3 million and $109.4 million in assets, including stock in major American businesses like Apple, AT&T, eBay, Microsoft, J. Crew, Visa and Yahoo.