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How Al Gore's Net Worth Caught Up With Mitt Romney's

Tyler Durden's picture


Mitt Romney's net worth of $250 million is well-known by virtually everyone in America: after all, it was the primary campaign offensive used by the Obama team against his presidential challenger in an election run largely down wealth, and social class lines, and whom "Democrats targeted in ads and speeches as being out of touch with most Americans." What many may not know is that staunch democrat Al Gore's own personal wealth, has soared from virtually nothing in 1999 to a staggering $200 million according to an analysis conducted by Bloomberg.

To wit: "The former senator, who spent most of his working life in Congress, had a net worth of about $1.7 million in 1999 and assets that included pasture rents from a family farm and royalties from a zinc mine, remnants of his rural roots in Carthage, Tennessee... Fourteen years later, he made an estimated $100 million in a single month. In January, the Current TV network, which he helped to start in 2004, was sold to Qatari-owned Al Jazeera Satellite Network for about $500 million. After debt, he grossed an estimated $70 million for his 20 percent stake, according to people familiar with the transaction. Two weeks later, Gore exercised options, at $7.48 a share, on 59,000 shares of Apple Inc. stock that he’d been granted for serving on the Cupertino, California-based company’s board since 2003. On paper, it was about a $30 million payday based on the company’s share price on the day he claimed the options."

Bottom line: "Whatever you think of Gore, one thing is indisputable: leveraging his aura as a technology seer and his political and climate work connections, Gore has remade himself into a wealthy businessman, amassing a fortune that may exceed $200 million. That’s close to the $250 million net worth of 2012 Republican presidential nominee Mitt Romney, whom President Barack Obama and Democrats targeted in ads and speeches as being out of touch with most Americans."

Such a designation is missing when it comes to Al Gore, about whom people indeed think many things:

Albert Arnold Gore Jr., 65, is a lot of things to a lot of people. Among friends and fans, he’s the progressive Democrat who should have been president, visionary author and Internet prophet, the man who more than anyone drove climate change to the center of public consciousness.


Detractors see Gore as a limousine liberal, tiresome pedant and climate alarmist who lives a jet-setting, carbon-profligate lifestyle while preaching asceticism for everyone else.


His work and writing on global warming have earned him a share of a Nobel Prize as well as a South Park cartoon parody in which he tries to scare school kids to his beliefs with a fictitious global-warming surrogate monster known as ManBearPig.

So just how did Al manage to accumulate such a sizable net worth in just over a decade? Bloomberg summarizes how for Gore the "land of opportunity" certainly lived up to its name.

How Gore achieved this is as much about timing and luck as it is about business skills. His Apple board tenure has coincided with a 5,900 percent increase in its stock price. Current TV was a moribund “fixer-upper” when Al Jazeera stepped in to buy it at “a huge valuation,” said Derek Baine, an SNL Kagan cable analyst in Monterey, California.


Gore also had his share of flubs, most of them in his efforts at green-tech investing. An investment firm he helped to start took stakes in two carbon-trading firms that fizzled and also racked up tens of millions in losses in a solar-module maker.

There was hardly much promise in the young Gore as future consummate businessman:

“It doesn’t surprise me,” Reed Hundt, a Gore high-school friend, said of his business success.


Hundt, whom Gore helped get appointed to run Bill Clinton’s Federal Communications Commission in 1993, didn’t detect a business gene in young Al back in their days at Washington’s private St. Albans School.


Gore went on to graduate with a degree in government from Harvard University, dabble in journalism and study but never graduate from law school at Vanderbilt University. Instead, he quit to run for public office.

And yet he went on from "success" to "success", if initially by way of inheritance.

Back in 2000, about $750,000 of his net worth was tied to two homes he and his then-wife Tipper owned in Virginia and Tennessee.


Most of the rest had been recently inherited, including an undisclosed number of shares of Occidental Petroleum Corp. left to him by his late father, Senator Albert Gore Sr., and valued at between $500,000 and $1 million, according to disclosure forms.


He’s moved up the housing ladder since then. He owns a 20- room, 10,000-square-foot antebellum mansion in Nashville’s wealthy Belle Meade neighborhood that’s mostly shrouded from view by a thicket of Southern foliage and a massive iron gate. In 2010 -- weeks before the Gores announced they were dissolving their 40-year marriage -- he purchased an oceanfront six- bedroom, $8.9 million villa in Montecito, California, where Oprah Winfrey and Kirk Douglas have lived.

It was all uphill from there:

His ascent into America’s 1 percent happened quickly. After losing to Bush, he had enough wealth by March 2008 to put $35 million into hedge funds and private partnerships through Capricorn Investment Group, a Palo Alto, California-based company, according to U.S. Securities and Exchange Commission documents.


The investment company was founded by his buddy, Canadian billionaire Jeffrey Skoll, who amassed a large part of his fortune in shares he was awarded as the first president of EBay Inc.

... including books:

His best-selling climate books, “Earth in the Balance,” “An Inconvenient Truth” and “The Assault on Reason,” haven’t contributed to his wealth. Gore has long pledged any book and film money to his nonprofit, the Climate Reality Project, created in 2011 from two advocacy groups Gore founded a year earlier.


By the time of the Capricorn investment, he was already starting to rake in cash from Generation Investment Management - - a fund that incorporates “sustainability” into its investment approach. Gore co-founded GIM in 2004 with former Goldman Sachs Group Inc. Managing Director David W. Blood.


Public filings show that in 2008 through 2011 London-based GIM racked up almost 140 million pounds ($218 million) in profits to be split among its 26 partners.

... documentaries:

Gore had a string of connections and invitations to join what would turn out to be prosperous enterprises. Skoll’s Participant Media produced the 2006 Oscar-winning documentary, “An Inconvenient Truth,” based on Gore’s climate work. The movie was pivotal in helping him win his share of the 2007 Nobel and claim speaker fees at $175,000 a pop.


Prior to being invited to join Apple’s board, Gore was tapped as a senior adviser to Google Inc. (GOOG) before its 2004 initial public offering and at a time when it was not yet a household word. Google won’t discuss his duties or compensation though some in Silicon Valley believe his pay there may be as rich as his Apple remuneration, which that company is required to disclose because he’s a director.

... lots of networking and holiday parties:

Gore was made a partner at Kleiner Perkins and John Doerr, an early investor in Inc., Intuit Inc. and Google, joined GIM’s advisory board. At Kleiner Perkins, Gore helps with investment strategies and selectively advises companies but doesn’t lead deals or take board seats on startups the firm invests in. Kleiner Perkins declined to discuss his compensation.


Gore earns his keep in Silicon Valley beyond simply attending the annual holiday party. He’s made himself available to a number of technology companies that got startup help from Kleiner Perkins. Andrew Fisher, chairman of Shazam Entertainment Ltd., a mobile music app maker backed by Kleiner Perkins, said Gore flew to London two years ago and agreed to be interviewed on stage in front of about 200 company employees and business partners.


Gore’s preparation was first rate and it was clear that “he’s tremendously well-versed” in Kleiner Perkins’s investments, Fisher said. At the presentation, “he talked about his work around the environment, leadership in small companies, decision making, sitting on the board of Apple. People were fascinated with his insight.”

... "discovering the Internet":

They love Al Gore in Silicon Valley and why shouldn’t they? Gore never claimed, as some conservative critics have asserted, to have invented the Internet.


Still, as a Tennessee congressman and senator, he was the first national politician to see how personal computers connected to a system he popularized as the “information superhighway” would radically change the social and commercial landscape of the U.S. and the world.


He drafted the Performance Computing Act of 1991, often called the Gore Bill, which led to funding to build the system that later became the Internet.

... lots of luck:

None of this was lost on Apple when, in March 2003, Steve Jobs personally asked Gore to join the board. An Apple press release about the appointment was a techie love fest. “Al is an avid Mac user and does his own video editing in Final Cut Pro,” Jobs said.


Apple was trading at about $7.50 a share when Gore accepted the Apple board seat. The company’s stock closed at $449.98 on May 3 in New York. The escalation of his options alone would have made him rich.


Gore’s profiting from the Al Jazeera sale is another example of luck, timing or both. Gore and partners that included Los Angeles billionaire Ron Burkle, Hyatt Legal Services founder Joel Hyatt and San Francisco money manager Richard Blum bought the predecessor company for $70 million in 2004.


Re-launched as Current TV, Gore said at the time he wanted to create a “transformational” network. It would, like YouTube, thrive on youthful viewer input, be an antidote to Fox News and a liberal competitor to MSNBC.

... all leading to Mogul Al replacing Activist Al, when Current TV was sold to Al Jazeera:

The transaction also raised eyebrows because Gore, who has for years inveighed against fossil fuels and their role in climate change, sold the network to a company funded in part by oil-rich Qatar. Jon Stewart, host of the Daily Show television program, asked in January, “Can mogul Al Gore coexist with activist Al Gore?”


Gore defended the sale on the grounds that, among other things, Al Jazeera has “the highest quality, most extensive, best climate coverage of any network in the world.” It’s a position Gore’s been forced to defend repeatedly along the tour for his latest book “The Future: the Six Drivers of Global Change.”


Cable TV analysts, meanwhile, were abuzz over the $500 million payout. Current had been seeking buyers for a while, aware that Time Warner might soon pull the plug, but had not found any takers until Al Jazeera stepped forward.

However, Gore's stunning rise to riches has not been without its ptifalls:

GIM has assets under management of about $8.5 billion. Its investment strategy and returns have been impressive enough that Britain’s Environment Agency asked it to manage 7.2 percent of its 1.6 billion-pound investment portfolio through 2014. That’s up from 4.8 percent in 2009, according to documents filed with Britain’s securities regulator.


At times the company’s green investing approach hasn’t worked. In 2008, with optimism that a Democrat-controlled Congress would establish carbon controls and an international climate treaty would be extended, GIM bought a 9.6 percent stake, in Camco International Ltd., a manager of projects that reduce greenhouse gases.


By early 2010, GIM had upped its stake in the company now known as Camco Clean Energy Plc to 18.6 percent, according to documents. By October of that year, with Republicans in the House saying no to climate legislation and Kyoto Protocol talks stalled, shares in Camco were taking a beating. GIM dumped its stake. Neither company would comment on GIM’s actions.


In another instance, GIM took a 10 percent stake in the Chicago Climate Exchange, set up in 2003 by former derivatives guru Richard Sandor to take advantage of what the exchange’s founders hoped would be a government-mandated price on carbon. The exchange ran into the same headwinds as Camco and was sold to Atlanta-based IntercontinentalExchange Inc. in May 2010 for $581 million. It was later shut as carbon prices fell to all- time lows.


GIM would only say that neither Camco nor Chicago Climate Exchange were profitable investments.

All of which has naturally led to accusations of being a sophist preacher and an opportunistic "climate profitter":

Al Gore is like the preacher touting his moral purity and superiority,” Kish said. “Yet it turns out that heeding his preachings is directly linked to his financial interests.”

The jury is still out on Gore. One thing, however, that is obvious is that despite his lamentations...

Gore said in a May 1 interview with Bloomberg Television that American democracy has been “hacked” by the influence of money in politics and that he hopes activist investors will continue to exert influence on corporations globally to act in a responsible way.

... the same corporations that Gore managed to schmooze his way into and influence courtesy of levered money and on grounds idealistic, charismatic or otherwise, have been quite profitable for the 65 year old former Vice President.

But perhaps the bottom line is that we simply "don't know Al":

During a 2009 House hearing, Tennessee Republican Representative Marsha Blackburn tackled Gore on the issue of whether he had become a “climate profiteer” by betting on companies that might hugely benefit from his advocacy. Gore’s response: “Congresswoman, if you believe that the reason I have been working on this issue for 30 years is because of greed, you don’t know me.”

Which, it appears, is just how Mogul/Activist/hypocrite Al likes it:

Gore declined to be interviewed for this story.

Thus, sadly, we will only be left to speculate, muse and wonder just what is the driving force behind the New Normal "inheritance to riches" American Dream.


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Mon, 05/06/2013 - 09:31 | 3533909 RaymondKHessel
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That's it? Thought it'd be billions for the man who invented the Internet.

Mon, 05/06/2013 - 09:34 | 3533923 GetZeeGold
GetZeeGold's picture



He's going to donate it all to global warming......any day now.

Mon, 05/06/2013 - 09:35 | 3533926 Manthong
Manthong's picture

great "love story"

Mon, 05/06/2013 - 09:38 | 3533941 notbot
notbot's picture

Crony capitalism at it's finest, and everything that's wrong with the world summed up in one number.

Mon, 05/06/2013 - 09:41 | 3533952 Manthong
Manthong's picture


I'm chakra'd

Mon, 05/06/2013 - 09:50 | 3533977 hedgeless_horseman
hedgeless_horseman's picture



Hey hey hey, it's Fat Albert!

Mon, 05/06/2013 - 09:51 | 3533987 Joe Davola
Joe Davola's picture

$1.7 mil, virtually nothing?

I gotta pull up old Webster's and reacquaint myself with the meanings of virtually and nothing.

Mon, 05/06/2013 - 09:58 | 3534022 TeamDepends
TeamDepends's picture

Speaking of virtually and nothing, does anybody else find it odd that Mittens didn't lift a finger/spend a dime to contest the election results when there was a mountain of evidence pointing to voter fraud of biblical proportions?

Mon, 05/06/2013 - 10:04 | 3534046 SafelyGraze
SafelyGraze's picture

a lot of us have ridden gore's coattails all the way to the One Percent by investing green in solyndra

and by selling cattle. like gore.

and cattle futures. like hillie.


Mon, 05/06/2013 - 10:35 | 3534134 FL_Conservative
FL_Conservative's picture

Ahhhhhh.......the crony life.

Mon, 05/06/2013 - 10:45 | 3534166 Surly Bear
Surly Bear's picture

Must be nice to have that kind of cash on hand. Beats the shit out of working for a living.

Mon, 05/06/2013 - 10:54 | 3534190 francis_sawyer
francis_sawyer's picture

Livin' Large [on the back of 'The Convenient Lie']...

Mon, 05/06/2013 - 11:34 | 3534278 Pure Evil
Pure Evil's picture

So where's LTER to lament Gore's unearned inheritance of Occidental Petroleum Corp. shares left to him by his late father, Senator Albert Gore Sr., and valued at between $500,000 and $1 million.

Or, am I being to RAND-ian?


Mon, 05/06/2013 - 12:34 | 3534446 Richard Chesler
Richard Chesler's picture

Incovenient half truths and corruption.

Crime pays!

Mon, 05/06/2013 - 14:02 | 3534725 smlbizman
smlbizman's picture

im sorry, but due to desensitzation of my ability to determine what aot of money is these days, i feel sorry for both these guys......when they get john "no i did not win the derby" kerry  money than call me.....

Mon, 05/06/2013 - 10:13 | 3534072 BigJim
BigJim's picture

 ...does anybody else find it odd that Mittens didn't lift a finger/spend a dime to contest the election results when there was a mountain of evidence pointing to voter fraud of biblical proportions?

He was probably worried it might encourage people to look more deeply into the Republican Primaries... which he probably won by similar means

Mon, 05/06/2013 - 10:22 | 3534101 TeamDepends
TeamDepends's picture

Yep, they railroaded Ron Paul real nice didn't they?  Both political parties in this country are worth approximately one squirt of piss in today's dollars.

Mon, 05/06/2013 - 10:28 | 3534118 Deo vindice
Deo vindice's picture

You reap what you sow. The Republicans got back in the election what they did to Ron Paul in the primaries.

Mon, 05/06/2013 - 11:00 | 3534204 DaveyJones
DaveyJones's picture

remember the audio tapes from the convention, drowning out and ignoring the Paul support...

Mon, 05/06/2013 - 11:41 | 3534286 Pure Evil
Pure Evil's picture

What's really amazing is how the Repugs have ever so deftly practically eliminated the TEA party as a viable 3rd party alternative to themselves and the Dumbocrats.

Mon, 05/06/2013 - 11:46 | 3534301 DaveyJones
DaveyJones's picture

why does anyone support a "party" - we should all be individual thinkers. The first loyalty for a party member is their party, not their constituents. Perfect formula for corruption and efficient for corps. Lot of people to chase if they were all independents.  Thousands of Jurors make very important decisions, some life and death, every day. THe last thing they do, is worry about their party 

Mon, 05/06/2013 - 10:58 | 3534201 DaveyJones
DaveyJones's picture

funny analogy

since urine helps get RID of waste

Mon, 05/06/2013 - 10:57 | 3534193 RKDS
RKDS's picture

No surprise here.  One, he bought his way through the primaries.  Two, why can't somebody with so much money be bothered to really invest in some jobs here?  Oh, he was perfectly comfortable making promises about distributing everyone else's tax money, but his was far too precious to waste on the peasants.  You're telling me he didn't have a single idea in his head for a product or service?  Or know anybody else with one?  No, he thought he was going to buy his way into office and loot the place just like he always has since the first day he was chauffeured out into the world of "work."

Mon, 05/06/2013 - 12:18 | 3534387 jcaz
jcaz's picture

Not at all- he didn't run for President to be elected- why they hell would he want that job?  He's doing deals today based on his run, making a killing.....

Mon, 05/06/2013 - 16:28 | 3535311 Steaming_Wookie_Doo
Steaming_Wookie_Doo's picture

I imagine that Mittens, like Gore, was offered cash or setup in sweetheart deals that will pay off. Hey, is it better to be the President or to have a 9 digit payday for the coming decade. I'm thinking the latter.

Mon, 05/06/2013 - 09:59 | 3534027 BobPaulson
BobPaulson's picture

If you are a two income middle class family that doesn't blow its money on crap and invests wisely, certainly one million is trivial these days. My parents, now in their 70s, single income family, two kids, dad was a middle manager in accounts, no major acheivments in career, no major investment risk taking are now worth about a million.

Mon, 05/06/2013 - 10:03 | 3534044 overmedicatedun...
overmedicatedundersexed's picture

bob, WTF are you talking about??

Mon, 05/06/2013 - 10:12 | 3534070 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

Bob is right.  A million ain't what it used to be.

Mon, 05/06/2013 - 10:23 | 3534104 Ignatius
Ignatius's picture

So to be clear:  Gore, Romney and Bloomberg are ALL douchebags.

Mon, 05/06/2013 - 11:15 | 3534234 krispkritter
krispkritter's picture

The way these Bankers handle things...hell, a Trillion ain't what it used to be...

Mon, 05/06/2013 - 11:23 | 3534251 DaveyJones
DaveyJones's picture

I have one word for you son - plastics, no exponentials

Mon, 05/06/2013 - 12:56 | 3534517 Kayman
Kayman's picture

You and Bob are both right- about older folk. But the average, reasonably talented middle class young family today has no hope in hell to achieve the same million equivalent in their lifetime.

Declining real incomes eaten by inflation will continue to impoverish what otherwise ought to be the  backbone of the nation.  And please don't answer me with the inflationary/deflationary bouncing ball in financial assets as orchestrated by the Fed.

Tue, 05/07/2013 - 00:35 | 3536663 BobPaulson
BobPaulson's picture

I am just saying my fairly average senior citizen parents would qualify as "millionaires" with no significant financial feats except shrewd saving. I thing a good chunk of the middle class loss of wealth is because marketing is so good at getting people to waste their money. My folks never borrowed except for the house. we had used cars, handmedowns, cheap local meat and veg, you name it. I see working class folk at the store loaded with expensive prefab frozen food, tonnes of unhealthy crap, take their five dollar vanilla lattes and hop in their suv's. Then I see the wealthier folks buy cheaper food that is more healthy. ok, i am ranting now.

Mon, 05/06/2013 - 10:13 | 3534075 aerojet
aerojet's picture

Yup, but the bar to "rich" has moved far higher, another order of magnitude, at least.  Everyone in Zimbabwe was a billionaire when the shit flew apart.

Mon, 05/06/2013 - 10:54 | 3534188 Ayn NY
Ayn NY's picture

I have 200 trillion Zimbabwe dollars, so take that sucka...

Mon, 05/06/2013 - 10:01 | 3534032 Dr. Engali
Dr. Engali's picture

When I think of virtually nothing I picture the average citizen living the American debt filled dream.

Mon, 05/06/2013 - 10:07 | 3534057 Handful of Dust
Handful of Dust's picture

The Nobel Peace Prize 2007 was awarded jointly to Intergovernmental Panel on Climate Change (IPCC) and Albert Arnold (Al) Gore Jr. "for their efforts to build up and disseminate greater knowledge about man-made climate change, and to lay the foundations for the measures that are needed to counteract such change"


The prize that can't stop giving.....

Mon, 05/06/2013 - 10:45 | 3534170 hivekiller
hivekiller's picture

Noble peace prize is a joke. Look at who's won: Obama, Kissinger, Mandella, Al Gore.

Mon, 05/06/2013 - 11:54 | 3534311 DaveyJones
DaveyJones's picture

 Mandella got me thinking, we should combine water boarding with necklacing, just to balance things out  

Mon, 05/06/2013 - 13:05 | 3534544 Imminent Crucible
Imminent Crucible's picture

...and don't leave out His Holiness the Bishop Desmond Tutu. Whenever ambition, avarice and demogoguery dress up in religious robes, you know Something Wicked This Way Comes.

Mon, 05/06/2013 - 12:17 | 3534384 Keynesian Mess
Keynesian Mess's picture

Not just the peace prize - remember Krugidiot?

Mon, 05/06/2013 - 12:28 | 3534414 FeralSerf
FeralSerf's picture

You forgot Menachem Begin.

Mon, 05/06/2013 - 09:47 | 3533975 imapopulistnow
imapopulistnow's picture

He is the poster child for crony capitalism.

Mon, 05/06/2013 - 09:58 | 3534008 The Big Ching-aso
The Big Ching-aso's picture

Shit.    He sure looks nice and photosynthetically plump despite the ravaging effects of climate change.   Maybe he should focus now on diet change.

Mon, 05/06/2013 - 10:05 | 3534042 GetZeeGold
GetZeeGold's picture



It's all the vials of blood he carries with him.

Mon, 05/06/2013 - 09:57 | 3534018 insanelysane
insanelysane's picture

Another wealthy Socialist.

Anyone else get the impression that all of the little socialists are also muppets?

Mon, 05/06/2013 - 10:08 | 3534061 azzhatter
azzhatter's picture

Gee, I thought he was just really smart. You know he invented the internets

Mon, 05/06/2013 - 10:39 | 3534152 caconhma
caconhma's picture

"Gore co-founded GIM in 2004 with former Goldman Sachs Group Inc. Managing Director David W. Blood."

Al Gore has worked long and hard for the Banking Mafia Elite. Now he is rewarded for services. The same way Soros was rewarded. Furthermore, our respected politicians also learned how to reward themselves using the public trough. The rest is just hypocrisy and lies. There is no way one can succeed in America and EU having any honesty and integrity.

As for common people, they always were stupid and greedy fools trying to get something for nothing and/or just steal anything at a first available opportunity.

Mon, 05/06/2013 - 09:52 | 3533995 BobPaulson
BobPaulson's picture

His big sources of money were from good timing/luck on Apple stocks and selling the TV network, both legal. I don't like the guy: I do think climate change is a problem but he actually did a disservice to the issue with his movie. However, on the standards of the bankers and billion dollar fraudsters, this guy doesn't rate. He wasn't even that rich after his term as VP.

Mon, 05/06/2013 - 09:55 | 3534010 overmedicatedun...
overmedicatedundersexed's picture

hey Bob, how long did you worked for elect gore 2000? it's ok that he sold out cheap just millions not happy ending for YOU.

Mon, 05/06/2013 - 10:15 | 3534084 aerojet
aerojet's picture

There's no such thing as timing--I simply don't believe that all politicians are that lucky!  They have inside information that we can't get at and they trade on it.  They know what land will become valuable and when--they know exactly where highways will be put in, where malls and housing developments will go in, everything.  This is what crony non-capitalism is all about. 

Tue, 05/07/2013 - 00:55 | 3536689 Tapeworm
Tapeworm's picture

aerojet, Lincoln got ahead by being a railroad lawyer and having first dibs on buying land at the secretly proposed railheads.

Mon, 05/06/2013 - 10:20 | 3534094 Bay of Pigs
Bay of Pigs's picture

Good luck? Are you kidding? What part of his leadership in dismantling Glass Steagall in 1999/2000 and giving the Banksters the keys to run wild are you missing Bob? 

Mon, 05/06/2013 - 12:16 | 3534374 Kirk2NCC1701
Kirk2NCC1701's picture

Could not care about Gore one way or another, but... I have to call you out on this 'factoid' of yours: Bullshit!

DYOH on Glass-Steagall dismantling, and you'll see that this was done by a GOP-led and dominated foursome -- sponsored & led by none other than that slimmy Phil Gramm (R-Tx).  Who later sat on the Swiss UBS board.  I contend that this was a Wall St creation, enabled by eager GOP beavers.  'Beavers-for-rent'.

If you had watched the 60 Minutes report of this a few years back, you'd know that this was a total Inside Job.  The poison-pill text got inserted at the last minute, into a budget bill, and was never read.  The bill passed as the last act of Congress, in a lame-duck session of Dec., 1999.  It totally set the stage for the Wall St scams since then.  Most of which occured on the Bush/Cheney watch.

Mon, 05/06/2013 - 12:37 | 3534421 Bay of Pigs
Bay of Pigs's picture

Piss off with the red/blue horseshit and propaganda. The Democratic House pushed the intial bill through in July 1999. Then on November 4, the final bill was passed by the Senate 90-8, and by the House 362-57. The legislation was signed into law by President Bill Clinton on November 12, 1999.

Mon, 05/06/2013 - 13:09 | 3534552 Kayman
Kayman's picture

Thank you for reminding us of the political pillow fights the Dems and the Reps have before pillow talk.

Mon, 05/06/2013 - 14:40 | 3534899 Blankenstein
Blankenstein's picture

Maybe if you did a little research, you would be aware that your fellow blue team flag-wavers Robert Rubin and Larry Summers were instrumental to the repealing of Glass-Stegal.  

"Rubin and his deputy Lawrence Summers also steered through the 1999 repeal of the Glass–Steagall Act (1933), which had separated investment banking from the retail side. It allowed the banks to develop and sell the mortgage-backed instruments that became a principal factor in the financial collapse. In September 2011, the UK Independent Commission on Banking released a report in which it recommended a separation of investment and retail banking to prevent a repeat of the 2008 crisis"

Mon, 05/06/2013 - 15:34 | 3535137 Bay of Pigs
Bay of Pigs's picture

Indeed, and with the help of Greenspan and Levitt (SEC), they blocked Brooksley Born's efforts at the CFTC to regulate and reel in the toxic derivatives witches brew that we are now firmly entrenched in.


Mon, 05/06/2013 - 17:18 | 3535478 chumbawamba
chumbawamba's picture


Mon, 05/06/2013 - 10:34 | 3534132 Vince Clortho
Vince Clortho's picture


Mon, 05/06/2013 - 10:47 | 3534172 YHC-FTSE
YHC-FTSE's picture


Never liked Gore, but you do have a point.  Seems a fairly honest way to have amassed a fortune, and unless someone has new info, I don't see the hand of GS/JPM in this at all. 

Just unfortunate that many hate the wealthy just because, and his political career doesn't help either. I did feel sorry for him at one time because he got such a pounding from the neocons during his presidential run. Looking at the posts, the same neocon bullshit about Gore was programmed into hardwiring with some people. 

Mon, 05/06/2013 - 12:00 | 3534329 DaveyJones
DaveyJones's picture

He did sell out on the carbon tax - which has noting to do with addressing the ice cores, no matter what one thinks of the science. Even the scientists say it's BS.  No matter what you think of him, I lost the last ounce of respect when he stood down to the political machine in the 2000 election proving, once again, who and what he takes his orders from...    

Mon, 05/06/2013 - 12:23 | 3534400 YHC-FTSE
YHC-FTSE's picture

Precisely when I lost respect for him too. Just keeled over and let them take it. Not even the slightest fight in him when it mattered the most. So yes, that did prove where he got his orders.

Mon, 05/06/2013 - 13:13 | 3534562 Imminent Crucible
Imminent Crucible's picture

There was nothing honest about it; the article is a sad crock Tyler should be ashamed of. Gore sold his influence to the likes of Steve Jobs for money. He sat on Apple's board and ran interference between Jobs/Apple insiders and the shareholders.

When the options backdating scandal came up, it was proved beyond any doubt that insiders looted hundreds of millions from the common stock holders by dating the options to the lowest price of the past quarter or year. Gore found no wrongdoing; just a need to "revise company policy".

Next, Steve Jobs awarded himself $600 million in AAPL stock at a board meeting that never happened. He then fabricated the minutes to that bogus meeting after the fact.  Again, Gore covered for him. Gore the Whore.

You can make a million bucks if you work hard enough at an honest business for a lifetime. But "behind every great fortune lies a great crime". Or in Gore's case, a whole litany of them.

Mon, 05/06/2013 - 13:23 | 3534597 Dealyer Turdin
Dealyer Turdin's picture

Damn. Thx for the light.

Mon, 05/06/2013 - 16:03 | 3535231 DaveyJones
DaveyJones's picture

I can't believe a corporate mogul and former US senator would do that

Mon, 05/06/2013 - 17:59 | 3535599 YHC-FTSE
YHC-FTSE's picture

Thx mate.

Tue, 05/07/2013 - 01:01 | 3536693 Tapeworm
Tapeworm's picture

IC, thanks for the reminder. This crap of insider dealing gets so thick that even after getting all worked up about a single gigantic theft, it loses potency with each bigger and better iteration of incomprehensible theft.

Mon, 05/06/2013 - 12:07 | 3534346 tip e. canoe
tip e. canoe's picture

also rather unfortunate that quickest & longest path to the greatest wealth leads through the den of deception and the urinal of hypocricy.     if "the wealthy" can figure a way to squeeze through the eye of a needle, it might be a fortunate time to reconsider, but have you any evidence that that discovery has been made yet?

Mon, 05/06/2013 - 12:19 | 3534388 YHC-FTSE
YHC-FTSE's picture

All true about what you say. The suspicion of ill gotten gains stinks up to high heaven with the political types. Just trying to be fair which is a silly habit of mine, one I can't control. :(

Mon, 05/06/2013 - 13:15 | 3534568 Kayman
Kayman's picture

 "I don't see the hand of GS/JPM in this at all."

Which dirty hand of the Financialization Cartel or the Political Payback crowd (wink-wink, nod-nod) contibuted to Gore's "amazing good luck" is immaterial. It is payback for favors and politcal access. Period.

Do you think China's favorite son Bill Clinton would be as fortunate if he hadn't promoted letting China into the WTO ?  Killing middle class American jobs is a minor detail when you're feeding at the trough.

Mon, 05/06/2013 - 16:26 | 3535307 TheProphet
TheProphet's picture

Now, Al Gore never said he "invented the internet."

Al Gore said he "created the internet."

"During my service in the United States Congress, I took the initiative in creating the Internet. I took the initiative in moving forward a whole range of initiatives that have proven to be important to our country's economic growth and environmental protection, improvements in our educational system."

Now, in this context, is there any difference between "created" and "invented" ? There is not. Gore stated, clearly, that the existence of the internet was of his doing.

And for such a massive lie he should be pounded ad infinitum.

Mon, 05/06/2013 - 11:19 | 3534241 Mine Is Bigger
Mine Is Bigger's picture

According to a book I read a long time ago, he comes from a family whose bloodline crosses paths with Rothchild's.  He has powerful connections.

Mon, 05/06/2013 - 14:25 | 3534822 Blankenstein
Blankenstein's picture

Riiiiiight.  Al Whore's net worth in 1992 was between $153,000 and $345,000.  He came from money and influence and was still floundering until he sold out his inherited influence to the correct people.  Saying this is good timing, is an insult to the law-abiding citizens of the US.

Mon, 05/06/2013 - 10:35 | 3534135 YHC-FTSE
YHC-FTSE's picture

In Britain we call his kind, "Bollinger Bolsheviks".

Mon, 05/06/2013 - 10:47 | 3534173 dirtbagger
dirtbagger's picture

All the fault of the SOTUS.  If they hadn't cooked the Florida election results, he would still be poor and Bush would be the rich one

Mon, 05/06/2013 - 11:20 | 3534245 xtop23
xtop23's picture

We need carbon credits bitches, the squid has willed it to be so!

Scammer douchebag.

Mon, 05/06/2013 - 09:58 | 3534026 mess nonster
mess nonster's picture

Al Gore either walks or rides a horse to get where he's going. No carbon footprint for this guy! No corporate jets!

Mon, 05/06/2013 - 09:37 | 3533935 Stackers
Stackers's picture

Didnt you guys know that all politicians are master investors ?

Look at the Clintons. They left Little Rock making a little over $200k/yr and left Washington 8 years later worth over $200 million.

Mon, 05/06/2013 - 09:47 | 3533974 GeezerGeek
GeezerGeek's picture

It's okay for Democrats to get rich, because they do so much for the little people. 

Mon, 05/06/2013 - 09:51 | 3533989 Umh
Umh's picture

Thank god they don't work for it. That would be terrible for their cause.

Mon, 05/06/2013 - 12:02 | 3534337 DaveyJones
DaveyJones's picture

never knew you could do that with cattle futures. fuck, she's brilliant.

Mon, 05/06/2013 - 13:19 | 3534580 Imminent Crucible
Imminent Crucible's picture

She has to be brilliant to have stayed out of prison after all her crimes. The cattle futures scandal was the least of it, but it demonstrated the complicity of the MSM one more time.

MSM: How'd you make all that money in cattle futures?

Hellary: I just, like, read the New York Times and Wall Street Journal, and heck, it was easy.

MSM: Well, okay then.

What really happened was that the brokerage house made numerous trades in cattles futures. After they settled, they assigned the winning trades to the Governer's wife, and the losing trades to some poor schmuck clients who weren't connected to Governor Priapism.


Mon, 05/06/2013 - 16:09 | 3535248 DaveyJones
DaveyJones's picture

Tyson runs that state

then again, genetic freak chickens are the perfect analogy for the political machine.... 

Mon, 05/06/2013 - 09:52 | 3533997 Bad Attitude
Bad Attitude's picture

Gore got rich selling hot air.

Mon, 05/06/2013 - 09:54 | 3534005 HardAssets
HardAssets's picture

That doesnt even include the secret accounts held in such places as the Vatican Bank, Cayman Is, Switzerland, etc

Mon, 05/06/2013 - 09:58 | 3534023 Handful of Dust
Handful of Dust's picture

He invented Global Warming too.....

Mon, 05/06/2013 - 11:18 | 3534239 krispkritter
krispkritter's picture

No, he just profitized's for the children dontcha know...

Mon, 05/06/2013 - 10:16 | 3534090 ugmug
ugmug's picture

I sense Al Gore is living the first part of an old testament story that starts out with plenty of chutzpah but will end with him declaring bupkis-ruptcy once he hands it all over to Goldman Sachs. 

Mon, 05/06/2013 - 10:57 | 3534195 Burt Gummer
Burt Gummer's picture




Mon, 05/06/2013 - 09:33 | 3533911 I am more equal...
I am more equal than others's picture

He's a fucking loser, but with money.

Mon, 05/06/2013 - 09:46 | 3533971 uno
uno's picture

for the majoirty of Americans that is all that matters, it does not matter if you loot companies, steal pension money, inherit money, steal from the church - as long as someone has money they are envied.  The easier you get it the better.

Mon, 05/06/2013 - 10:04 | 3534047 I am more equal...
I am more equal than others's picture

You are correct.  Money makes all things better or at least the person holding great quantities of it.

Mon, 05/06/2013 - 09:49 | 3533973 DeadFred
DeadFred's picture

This may be the explanation for last weeks NFP report showing such a large rise in employment centered around twenty something females in the entertainment/ health care fields. Bullish for 'massage therapists'

-Temp work only-

How many minutes is the employment contract for? Inquiring minds want to know.

Mon, 05/06/2013 - 14:06 | 3534738 Imminent Crucible
Imminent Crucible's picture

Oh, dear. How cynical can you get, implying that lots of nubile women would sell their "services" for gain---whoops, gotta go, my masseuse is at the door.  I hope she's not one of those that Gore used.

Tue, 05/07/2013 - 01:18 | 3536706 Tapeworm
Tapeworm's picture

I use a nice 54 year old massage therapist that is as left as the day is long. I couldn't believe that she knew nothing of AlGore's mashing of a massage gal and then her dismissal of it all being impossible because of the guy's perfection in humanity.

 I have converted her to a sort of anarchist when I talk to her, but she relapses into algoreisms when away from thinking out her situation.

 She still has not bothered with the travails of one of her own co-laborers when in a session with Mr. Green.

 What a rotten twerp he is.

Mon, 05/06/2013 - 09:33 | 3533914 caimen garou
caimen garou's picture

he really made his millions when he got the world spinning on it's axis!

Mon, 05/06/2013 - 09:33 | 3533916 Spastica Rex
Spastica Rex's picture

Gore looks like a $50,000,000 loser to me.

Mon, 05/06/2013 - 10:14 | 3534069 BLOTTO
BLOTTO's picture

Selling your soul pays well sometimes... in terms of temporary, shitty, earthly material possesions.


Would you cut your heart out and sell it for $50,000,000? No.

Now, think of your soul on a completely other level.


So, Enjoy it while it lasts...Albert...


Mon, 05/06/2013 - 10:44 | 3534163 Spastica Rex
Spastica Rex's picture

That made me smile. Not easy to do.

Mon, 05/06/2013 - 12:05 | 3534344 DaveyJones
DaveyJones's picture

if it were only like lungs, so I could sell one for 25

Mon, 05/06/2013 - 12:05 | 3534347 PAWNMAN
PAWNMAN's picture

I love it! Lets hope Fat Al spends eternity with Satans pitchfork up his arse like a lollipop!

Mon, 05/06/2013 - 13:28 | 3534611 Dealyer Turdin
Dealyer Turdin's picture

When your soul is made out of wood, and you're destined for the fire, stalling is everything.

Mon, 05/06/2013 - 09:33 | 3533919 overmedicatedun...
overmedicatedundersexed's picture

jon corzine wouldn't let gore shine his shoes, ..bribes well spent.

Mon, 05/06/2013 - 10:08 | 3534059 Cacete de Ouro
Cacete de Ouro's picture

David Blood, as a youngster, distressed by seeing extreme poverty when he lived in, gimme a break...this is the funniest thing I've heard in a while


Rich kid Blood wouldn't know one end of a Favela from the other, and would piss in his pants if his SUV broke down near one...:)

Mon, 05/06/2013 - 09:33 | 3533921 HD
HD's picture

You don't think people go to Washington to serve the public good now do you folks?

Mon, 05/06/2013 - 09:37 | 3533938 Bearwagon
Bearwagon's picture

And in case someone does - I got a bridge to sell to that person ...    ;-)

Mon, 05/06/2013 - 09:34 | 3533922 musket
musket's picture

First class dickhead who has diddled the system at every turn......look in the dictionary for hypocrite and they have fat Albert's jpeg........flush this turd now.

Mon, 05/06/2013 - 12:33 | 3534440 Disenchanted
Disenchanted's picture

You can also find his jpeg under the entries for "empty suit" and "useful idiot."

Mon, 05/06/2013 - 09:35 | 3533925 Cursive
Cursive's picture

How to make money - Become a politician.

Mon, 05/06/2013 - 09:44 | 3533963 tip e. canoe
tip e. canoe's picture

well, at least we now know what the going offer price for USPrez is (at year 2000 pricing + discount rate).

Mon, 05/06/2013 - 09:36 | 3533932 Inthemix96
Inthemix96's picture

I wouldnt mind punching this fuckers teeth out like.

Fucking nation wrecking cunt.  And all for material gain.

Fucking prick.  Lecturing others on their carbon foot print while flying all over the world and living in houses 60 folk could do well in.

Fucking first class scumbag.

Mon, 05/06/2013 - 09:54 | 3534006 Hulk
Hulk's picture

You ought to see the pollution his zinc mines cause in Tennessee Rivers...

Mon, 05/06/2013 - 09:37 | 3533934 CrimsonAvenger
CrimsonAvenger's picture

Ha - and he STILL can't get laid.

Mon, 05/06/2013 - 10:23 | 3534105 The Navigator
The Navigator's picture

Except in Manila or Bangkok, for $40.

Mon, 05/06/2013 - 11:29 | 3534266 DoChenRollingBearing
DoChenRollingBearing's picture

High altitude drifter.  They'll never forget the day he floated into town.

Mon, 05/06/2013 - 09:38 | 3533940 PAWNMAN
PAWNMAN's picture

Crooks! Every last one of them!

Mon, 05/06/2013 - 09:39 | 3533947 overmedicatedun...
overmedicatedundersexed's picture

worth millions but can't get a happy ending, what a sad fuck

Mon, 05/06/2013 - 09:47 | 3533976 GetZeeGold
GetZeeGold's picture



He should have just spent a little more and hired a hooker.


Then people don't get rich by spending money.

Mon, 05/06/2013 - 09:38 | 3533943 Hobbleknee
Hobbleknee's picture

Who cares about this nobody?

Mon, 05/06/2013 - 09:40 | 3533944 Dr. Engali
Dr. Engali's picture

200 million? The elites must have opened up petty cash and tossed him some change for being such a good  douchebag puppet.

Mon, 05/06/2013 - 09:48 | 3533946 NoDebt
NoDebt's picture

Interesting his timing on selling out of pretty much everything.  Sells Current TV and then exercises his options in Apple (nowhere near the top, but still with a LOT of profit).

Buying $250MM worth of physical gold while it's on sale, perhaps?

I would need to review my feelings towards the guy if I found out he had his own personal gold vault at the bottom of the family zinc mine in TN!  Perhaps not so stupid after all.

Mon, 05/06/2013 - 09:40 | 3533948 firstdivision
firstdivision's picture

Let's remember, he is on the side of the financial services industry with his invovlment with Gramm–Leach–Bliley Act

Mon, 05/06/2013 - 09:40 | 3533950 Sandmann
Sandmann's picture

He also has the Congressional Exemption for Insider Trading which must be worth a bomb to investment partnerships

Mon, 05/06/2013 - 09:41 | 3533955 Shell Game
Shell Game's picture

The mainstream is so clueless that you could present DNA evidence of an exact match and they would still believe the Red team, Blue team are different..

Mon, 05/06/2013 - 09:42 | 3533958 GeezerGeek
GeezerGeek's picture

He complains about my carbon footprint while ignoring his far hugher carbon buttprint.


Mon, 05/06/2013 - 09:43 | 3533961 Bay of Pigs
Bay of Pigs's picture

I sat behind this pear shaped loser on a flight one time. It was all I could do to keep my mouth shut as everyone else wanted his autograph and to gush and drool over this sick and twisted human.

Not only is he a bad liar, he doesnt give a fuck about the people he was supposed to represent.

Mon, 05/06/2013 - 09:48 | 3533983 firstdivision
firstdivision's picture

Show me one person in DC that does, and I'll show you someone that isn't moving up the ladder.

Mon, 05/06/2013 - 09:50 | 3533984 NoDebt
NoDebt's picture

Flying commrercial?  I'm guessing this is before he had $250MM and a private jet powered by maple tree saplings.

Mon, 05/06/2013 - 10:02 | 3534038 CrimsonAvenger
CrimsonAvenger's picture

maple tree saplings - that was funny. I would have gone with the tears of children, but that's just me.

Mon, 05/06/2013 - 10:02 | 3534037 imapopulistnow
imapopulistnow's picture

I get really annoyed with ad hominem comments. You shouldn't have called this sick, twisted loser "pear shaped".

Mon, 05/06/2013 - 10:04 | 3534050 Bay of Pigs
Bay of Pigs's picture

LOL...sadly I had to walk behind him that day and noticed his odd shaped body.

Mon, 05/06/2013 - 09:44 | 3533965 ZeroPoint
ZeroPoint's picture

Just think how far more rich he would be today if his carbon credit scam had materialzed......

Mon, 05/06/2013 - 10:04 | 3534048 MassDecep
MassDecep's picture

The carbon credit scam is just around the corner...

Kinda like the new "rain tax" in Maryland, (home of the elites and devils).

Mon, 05/06/2013 - 09:46 | 3533969 rsnoble
rsnoble's picture

Like every other lie, if they openly admit he is worth $200 million it's probably more like 1 billion.  Now shut up and go flip those burgers.

Mon, 05/06/2013 - 09:52 | 3533993 imapopulistnow
imapopulistnow's picture

I do the fries.

Mon, 05/06/2013 - 10:28 | 3534119 jumbo maverick
jumbo maverick's picture

No you have been promoted to the grill. Remember Cliff, that 46 year old white guy with a masters degree, wife and three kids.? He just jumped off a bridge so he won't be working the grill any longer. Now flip the burgers.

Mon, 05/06/2013 - 09:48 | 3533979 MFLTucson
MFLTucson's picture

The entire Liberal establishment is a fucking con show!

Mon, 05/06/2013 - 09:50 | 3533985 Smegley Wanxalot
Smegley Wanxalot's picture

If someone popped a cap in his ass, I'd laugh my butt off rerunning it on youtube nonstop.

Mon, 05/06/2013 - 09:51 | 3533990 tip e. canoe
tip e. canoe's picture

"Sorry, in my fervor to spread the Gospel of Global Warming,  I simply forgot to tell everyone there was a mistake at the printers and that the Hockey Stick Graph was measuring my future bank account and not CO2 levels.

Oops, my bad."

Kind Regards, BigAl

Mon, 05/06/2013 - 09:56 | 3534014 Hulk
Hulk's picture

Check out this video by Dr Allan Savory on reducing CO2 levels to pre industrial levels and reversing desertification of the planet...

Mon, 05/06/2013 - 11:44 | 3534296 tip e. canoe
tip e. canoe's picture

thanks man.   someone shared this link last week and i ignored it cuz of my aversion to TED due to their association with BigAl.   just goes to show ya that the answers may all be under the rocks that we choose to ignore.

pretty compelling argument he makes.    i see it got the vegans all worked up, that alone means it's got something going for it!

trying to figure out how many livestock/acre would be ideal...any thoughts? 

Mon, 05/06/2013 - 12:16 | 3534368 Aurora Ex Machina
Aurora Ex Machina's picture

A NASA-led modeling study provides new evidence that global warming may increase the risk for extreme rainfall and drought...

The study shows for the first time how rising carbon dioxide concentrations could affect the entire range of rainfall types on Earth.

Analysis of computer simulations from 14 climate models indicates wet regions of the world, such as the equatorial Pacific Ocean and Asian monsoon regions, will see increases in heavy precipitation because of warming resulting from projected increases in carbon dioxide levels. Arid land areas outside the tropics and many regions with moderate rainfall could become drier.[NASA 3rd May, 2013 ~ has a useful video]


Child-hood's End.

Mon, 05/06/2013 - 14:12 | 3534766 tip e. canoe
tip e. canoe's picture

cool simulation.  all the more reason to cue the cows (or buffalo or sheep or goats or yaks).  no better way to store that carbon in the soil than a stinking pile of shit.   bonus: free mushrooms!

Mon, 05/06/2013 - 13:51 | 3534684 Hulk
Hulk's picture

No idea with Mob grazing on this scale. But I am sure Savory knows...

Mon, 05/06/2013 - 14:27 | 3534837 tip e. canoe
tip e. canoe's picture

wow, this paper says 250-500 cows/acre, but you have to have some serious acreage for that, as they recommend that grazed areas get a year rest.

they recommend a 60% grazed area before rotation, so i bet one could scale down and adapt to a smaller plot.

Mon, 05/06/2013 - 09:55 | 3534011 lynnybee
lynnybee's picture

how did Al Gore amass such a fortune ?  kinda like the way the Clinton's amassed a fortune...... methinks it's called grift & scams.  it's always amazed me how the little guy has to go out & work for $8.50/hr minus taxes, of course ... while those who wormed their way to the top never really have to 'work' or 'labor with their hands & body' to earn fortunes.    just you wait until the average guy figures out that they've been had.   that the little they did manage to save is declared worthless currency...oh dear, this is gonna be bad.   thank god i've figured it out & thank god i had Grandma Jo (born 1915, god rest her soul) who railed with fists in the air at the government & wall st.    Now, i trust no one, too.

Mon, 05/06/2013 - 10:08 | 3534064 Hubbs
Hubbs's picture

Gee, I wouldn't ask for much, just a chance like Hiliary had with the Chicago Comex to parlay $1,000 into $100,000 years ago.


I thought those kinds of "rides"  (like the chemotherapy kid running the ball for a touchdown against the pros) were given to unfortunate kids who, unlike the rest of us, were dealt a much more rotten deal in life.

Mon, 05/06/2013 - 10:19 | 3534098 aerojet
aerojet's picture

That's just the thing--you have to not work in order to have the time to go out and politic and meet everyone you need to meet.  Being busy "working" is just a fool's errand.

Mon, 05/06/2013 - 09:56 | 3534016 fuu
fuu's picture

Who fucking cares about Al Gore?!? Is he running for something again that he needs puff pieces today?

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