Financial Disclosures: A Look at Who Got Extensions

[maddezmom]

Today is unofficially "Opposition Research Day" here on Capitol Hill, otherwise known as the day when annual financial disclosure forms are due from all 535 members of Congress.

Occasionally providing a treasure trove of potential conflicts of interest to be exploited in the next election, financial disclosure forms (FDs in congressional parlance) must be filed every year on May 15, with the release coming 30 days later.

Of interest this year is the fact that 79 lawmakers -- 70 members of the House and 9 senators -- got extensions (most for one month, and in a few cases up to three months).

Extensions are often given to a lawmaker who has so much money that he or she has to take extra time to ensure its accuracy. (See New Jersey Sen. Frank Lautenberg, co-founder of ADP, the check and data processing company; he won't file his FD form until Aug. 13.)

Then there are the newcomers to Congress. A huge chunk of those seeking extensions -- presumably because this is the first time they've ever filed these forms -- are freshmen senators and representatives. In the Senate, freshmen Bob Corker (R-Tenn.), Jon Tester (D-Mont.), and Sheldon Whitehouse (D-R.I.) were all granted extensions, with Corker and Whitehouse not having to file their FD forms released until August and Tester getting a one-month extension. In the House, at least 17 of those receiving extensions were freshmen lawmakers. (One is Rep. Peter Roskam of Illinois, whose disclosure forms will be available mid-July at the latest.)

Saving the best for last -- extensions were also granted to a few members who are under ethical clouds. Four of this group are involved in federal corruption investigations, and at least two more have had their personal finances scrutinized in the media. It is a federal crime to knowingly file a false disclosure form with Congress, and the Justice Department has increasingly used that statute as a cudgel against lawmakers and staff members targeted in corruption investigations (See: Plea agreements for former Reps. Randy "Duke" Cunningham and Bob Ney, both serving prison terms now, as well as the indictment against Rep. William Jefferson, now awaiting federal trial.)

more:http://blog.washingtonpost.com/capitol-briefing/2007/06/freshmen_ethically_challenged.html