Tuesday, May 17, 2011

What is the "Henry G. Freeman Jr. Pin Money Fund"?

If you saw the President's financial disclosure form, you may have noticed page 9, which reads:

"Mr. Henry G. Freeman Jr. died in 1917. His estate is administered by Wells Fargo Bank, San Francisco, CA as trustee. Mr. Freeman's will provided that upon the death of the last to die of certain named relatives, certain charitable income interests would be created and an annuity would be paid to each First Lady during her husband's term as President. In 2010, the First Lady received $10,000 from the Henry G. Freemen Jr. Pin Money Fund."

It turns out this is actually a very cool story that is worth reading.

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