Sotomayor’s Finances
When it comes to her finances, Sonia Sotomayor seems to be just as irresponsible as Barack Obama.
According to documents she submitted, Sotomayor’s income over the last decade has been over $150,000 per year. One would expect a person with that level of income, and no kids, to have saved up quite a bit of money.
Instead, Sotomayor has a total of $31,985 in the bank, which would be almost wiped out if she paid up $15,823 in credit card bills and a $15,000 dentist bill.
Her only other assets are “personal property” (AKA rapidly depreciating stuff she bought), and a condo valued at about $1 million (probably an inflated valuation from the Housing Bubble.)
Interesting thing about that condo: Public records show that she bought it for $360,000 in 1998. But she now owes $381,775 in mortgages!
Sotomayor’s finances read very much like those of the irresponsible people who caused the current credit crisis. She bought a condo with two mortgages, and a downpayment of just 10%. Then, over the years, rather than saving a large part of her sizable salary and paying down her mortgages, she spent her money on stuff, and increased her mortgages. Now she’s in a position where her meager savings would be wiped out if she paid off her dentist and her credit cards.
Which brings us to a question I never thought I’d ask: Is Sonia Sotomayor financially responsible enough to be a Supreme Court Justice? Do we really want a Supreme Court Justice who’ll have $1,162 left in the bank if she pays her bills?
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June 6th, 2009 at 8:38 am
Is Sonia Sotomayor financially responsible enough to be a Supreme Court Justice?
Sure. Why not?
Do we really want a Supreme Court Justice who’ll have $1,162 left in the bank if she pays her bills?
Sure. Why not?
June 6th, 2009 at 9:00 am
As I recall, one of the (few) knocks on Breyer was that as one of the Lloyd’s “Names,” he had a great deal of potential financial exposure. And a couple Senators voted againts him for that reason. So more generally, financial concerns have been used in the past to justify “no” votes.
June 6th, 2009 at 10:09 am
Incredible dissection of Sotomayor’s finances. One would think that through the years she would have built up more “financial backing.” But, maybe that is part an parcel of being a liberal — if all else fails the government is your “Plan B!”
June 6th, 2009 at 6:09 pm
Who cares about how much she has saved. She is a federal judge!- her income & job are guaranteed for life, plus if she ever does decide to retire she has a nice pension set up, so what is there to save for?
June 7th, 2009 at 4:55 am
Well I suppose once you add up the tax bill between NYC,NYS, and Feds she’s been pulling down around a net of 75k a year, certainly enough to have paid down that mortgage some and live her life in the tri-state area, how she now owes more on the residence than she paid for it I can’t fathom unless there was some large bills in the past that had to be retired that did not translate into balance sheet assets. One of many considerations that come to mind are paying off of education related loans, that might explain away a large chunk of it legitimately.
June 7th, 2009 at 7:03 am
Catherine Zeta-Jones has offered her $millions for the rights to Sotomayor’s life story.
June 8th, 2009 at 10:14 am
Poli – Sotomayor keeps her finances in far better shape than you keep this blog.
As long as you keep featuring a socialist cheerleader (and a blind racist who worships Obumble), then YOU HAVE NO CREDIBILITY PAL.
Lose Oak, or lose what’s left of this FAILURE blog.
June 9th, 2009 at 4:18 pm
Spoon with other right-wing freaks at bejohngalt.com
June 12th, 2009 at 3:32 pm
At the recession time we blame everyone with such huge mortgages. People are not guilty, the system makes them follow its mistakes.
November 13th, 2009 at 12:50 pm
During this time in the economy, we’re blaming everyone with such huge mortgages, and outstanding bills, even medical and dental bills. This economy is affecting all of us in one way or another.