Henry Blodget has a column on Slate, entitled How To Invest Like a Supreme Court Justice: What John Roberts’ portfolio reveals about his character.
While Blodget’s analysis is somewhat interesting, if highly speculative, what I think is more important to draw attention to is the fact that Roberts is not just well off… he appears to be extremely well off… as in being worth between $3 and $7 million in 2003, according to his financial disclosure records. Blodget suggests that the top end of that figure could exceed $10 million, given the how the stock market has performed since then.
This may even be a low estimate, since according to his 2003 financial disclosure records, he owned “a chunk of XM Satellite Radio worth between $100,000 and $250,000″ and the stock has increased in value ten fold since then… making that one investment now worth between $1 million and $2.5 million (assuming he hasn’t sold, which reading Blodget’s analysis would appear to be probable).
Why is this relevant? Simple: class interests, and life experience. Roberts, by virtue of his wealth, is among the elite of the American elite, and that is bound to affect:
a) how he thinks, who he associates with, how he lives… virtually every aspect of his life is going to be colored by his wealth
b) his ability to empathize with the plight of the average American…no matter how “objective” he attempts to be, it is going to be flat out impossible for Roberts to really grasp, at a gut level, what the average middle, working class, or poor/destitute/homeless American encounters every day in their struggle to get buy, or just plain survive the night
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