2008.02.27
What our legislators put stock in -- literally
State Sen. Ralph Smith, R-Botetourt, is a miserly fellow, he’s never been ashamed to say. The businessman's tight with his money. That's one reason why he's got so much of it. So, it was no big surprise for me to learn that his stock portfolio includes stock in discount shopping mecca WalMart valued between $10,001 and $50,000.
We regular citizens get to know this stuff because our elected officials have to disclose it, though not in great detail. From local councils up to the state capitol, our elected leaders must file statements of economic disclosure. And while you could request these records yourself from the government, a dandy organization called the Virginia Public Access Project saves you the work and makes it all readily available on its website.
This stuff isn't just for our amusement – though it can be amusing, I’ll confess. The reason is so that we work-a-day folks know where our legislators’ financial interests lie. Then we can tell if their legislating is really in the interest of those who elected them, or in the interest of boosting the value of their own portfolios.






