Corrected Jan. 17: In this story, The Associated Press erroneously reported the value of Massachusetts Senate candidate Elizabeth Warren's IBM Corp. stock holdings. They are valued between $100,000 and $250,000, not between $250,000 and $500,000.



By ANDREW MIGA, Associated Press

WASHINGTON (AP) — Massachusetts Senate candidate Elizabeth Warren was paid $429,981 as a Harvard law professor from 2010 to 2011 and got nearly $134,000 in consulting fees on legal cases in 2010.

Warren's new personal financial disclosure report filed recently with the Senate shows she got $90,000 from a Florida law firm for her work as an expert witness against credit card companies in an antitrust case.

She also got $43,938 in consulting fees from Travelers Insurance on a legal case involving asbestos victims. Warren worked defending Travelers in a Supreme Court case involving a mining company that set up a trust fund for asbestos victims.

Warren, a bankruptcy expert, argued that the insurance company should be protected from future lawsuits from victims because such suits would prevent similar trusts from being created, making it impossible for all victims to be paid.

"Elizabeth served as a consultant and wanted to ensure that all victims got a fair shake and had an equal chance to get paid," Warren spokesman Kyle Sullivan said in a statement. "That is why she supported all insurance proceeds being put in a trust rather than fighting lawsuit-by-lawsuit until the money ran out."

The case drew scrutiny in the Senate race last year after a Boston Herald story on Warren's role.

Aspen Publishers in New York paid Warren $136,946 in royalties during 2010 and 2011 for books such as "Chapter 11: Reorganizing American Businesses" and "Bankruptcy and Article 9."

The report does not provide salary figures for Warren's recent government jobs. But her campaign said she was paid $192,722 during the period from 2008 to 2010 for heading the congressional panel that oversaw the government's bank bailout. She launched the new Consumer Financial Protection Bureau for President Barack Obama, earning an annual salary of $165,300 from September 2010 to July 2011, her campaign said.

Warren and her husband, Bruce Mann, who also teaches at Harvard, have financial investments, bank accounts and other various holdings worth more than $3 million, the report showed. They have several mutual fund investments through TIAA-CREF, the financial services company. Warren's holdings include IBM Corp. stock valued at between $100,000 and $250,000.

Warren said her home near Harvard Square in Cambridge, Mass., is worth between $1 million and $5 million. She rented it out for a few months while she was working in Washington, earning between $5,000 and $15,000.

The longtime consumer advocate, who is on leave from her Harvard teaching job, is the Democratic favorite to challenge Republican Sen. Scott Brown. Brown is seeking his first full six-year term after winning the special election in 2010 for the seat formerly held by the late Sen. Edward Kennedy.

The issue of personal wealth is expected to play a prime role in what is shaping up as one of the biggest Senate races in the country this year. Outside groups are expected to pour tens of millions of dollars in TV ads into the race. Brown holds one of the few Republican seats that Democrats believe they can flip in 2012 as they try to keep control of their narrow Senate margin.

Warren has cast herself as a crusader on behalf of the middle class against Wall Street abuses, while conservatives have attacked her as an out-of-touch liberal from Harvard. Brown has painted himself as a moderate Republican, but Democrats say he's too beholden to powerful Wall Street interests who they say have lined up behind the Republican freshman.

Brown's financial disclosure form filed last spring showed received a $700,000 advance from publishers HarperCollins for his memoir "Against All Odds" that told of his rise from a hardscrabble childhood to the Senate and revealed he was sexually abused as a child. Brown earns a base pay of $174,000 as a U.S. senator.

Brown and his wife, Gail Huff, reported owning a home in Wrentham, a law office and three rental condos in Boston. He reported assets between about $1 million and $2.3 million, according to an analysis by the nonpartisan Center for Responsive Politics, which tracks money and influence in politics.