Elizabeth Warren Made $1.9 Million as Bankruptcy Lawyer Over 24 Years

(Bloomberg) -- Elizabeth Warren on Sunday said she made about $1.9 million working as a bankruptcy lawyer over three decades, a disclosure that comes after requests from the media and Pete Buttigieg for her to release her tax returns.

Warren had previously released the names of the clients and cases she took on during her tenure as a professor at Harvard and other law schools, as well as 11 years of tax returns, dating back to 2008. The documents released Sunday cover her compensation between 1985 and 2009, but don't include tax returns.

Warren has campaigned as a progressive in the presidential race, condemning big money in politics and calling for restraining the influence of large corporations. The release comes as Buttigieg demanded last week that she disclose her tax returns covering her work in the private sector.

The campaign said it disclosed the compensation she received "from each case that we have been able to determine from public records." Warren lists her roles in these cases, sometimes as counsel and other times as an adviser, consultant, expert witness or mediator. Of the almost 50 cases, five have no compensation records. Warren did not receive any compensation in about 12 cases.

Warren made $76,712 as a consultant for the attorneys of Rabobank, a creditor in Enron Corp.'s bankruptcy in 2001. She made $186,859 representing department store P.A. Bergner & Co in 1995, and received $212,335 from a 2009 case in which she represented insurance company Travelers Indemnity Co. In 1987, she served as a consultant for Getty Oil, advising them on bankrupt Texaco Inc., which they wanted to buy. The campaign said it had no compensation records for that case.

Among the clients listed in Warren's resume are the silicon manufacturer Dow Corning Corp., which is owned by Dow Chemical. Warren received $19,942 for her work on compensation for women who had claimed injury from silicone breast implants after Dow Corning filed for bankruptcy, according to Warren's website. Warren also make about $154,679 as an expert witness for the Cable Advertising Networks bankruptcy in 1995.

"We must nominate a candidate who can create the most robust possible contrast against Republicans on conflicts of interest and corruption issues," Kristen Orthman, Warren's communications director, said in a statement. "Any candidate who refuses to provide basic details about his or her own record and refuses to allow voters or the press to understand who is buying access to their time and what they are getting in return will be seen by voters as part of the same business-as-usual politics that voters have consistently rejected."

Buttigieg has moved into the top spot in many recent Iowa polls as Warren has slid.

After Buttigieg called on her to release her tax returns, Warren fired back demanding that he disclose the names of the clients he worked with as a consultant at McKinsey & Co. Buttigieg has released his tax returns from three years at the firm, but says a nondisclosure agreement prevents him from making public the names of his clients. On Friday, he said he had asked McKinsey to release him from the confidentiality agreement.

(Michael Bloomberg is also seeking the Democratic presidential nomination. Bloomberg is the founder and majority owner of Bloomberg LP, the parent company of Bloomberg News.)

(Adds detail from earnings disclosure starting in fourth paragraph.)

To contact the reporter on this story: Misyrlena Egkolfopoulou in Washington at megkolfopoul@bloomberg.net

To contact the editors responsible for this story: Joe Sobczyk at jsobczyk@bloomberg.net, Max Berley, Linus Chua

For more articles like this, please visit us at bloomberg.com

©2019 Bloomberg L.P.


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