Texas Republican Barton’s Campaign Reports More Market Losses

Posted April 15, 2009 at 2:42pm

Texas Rep. Joe L. Barton, whose campaign lost $703,500 in the financial markets last year, reported Wednesday a $104,800 hit he took in the first quarter of 2009, not including income from interest-bearing checking accounts.

CQ Photo
Joe L. Barton

Much of the losses are attributable to the plummeting value of stock Barton’s campaign holds in two companies — General Electric and General Motors — that are regulated by the Energy and Commerce Committee, where he is the top ranking Republican.

Barton’s report to the Federal Election Commission shows $57,800 in losses from GE stock in the first three months of 2009 and $12,600 in losses from GM.