Steven Blumenthal, a Cardiologist and a Real Estate Developer

Blumenthal provided an in-depth breakdown of federal regulatory agencies and how they operate, from independent to department-based to hybrid structures like OFHEO (Office of Federal Housing Enterprise Oversight), which previously oversaw Fannie Mae and Freddie Mac before Congress took that responsibility over.

Early Life and Education

Blumenthal was born and educated at public schools in Brooklyn, New York before going on to Harvard University (B.A. 1967) and Yale Law School (J.D. 1973). While in law school he served on the editorial board of Yale Law Journal as well as being appointed an assistant to Senator Abraham A. Ribicoff.

Blumenthal faced criticism in 2021 for attending a ceremony organized by the Connecticut People’s World Committee, which is widely seen as being associated with communist ideologies. Asked by reporters about her attendance at this event, Blumenthal defended her attendance stating “my attendance has nothing to do with communism”.

Blumenthal introduced legislation called the Home Ownership Dreamers Act that ensured DACA recipients could not be denied mortgage loans from Federal Housing Administration and Fannie Mae/Freddie Mac due to their immigration status. It proved successful.

Professional Career

Blumenthal offers his clients guidance through all the complexities associated with buying, selling and operating their businesses. Drawing upon his extensive experience as a government official, industry self-regulator, law firm contract lobbyist, congressional counsel and head of a federal agency. Blumenthal brings an inimitable perspective to legal practice.

Blumenthal initially worked as a staff writer at The New Yorker and later became one of President Bill Clinton’s media advisers. However, his tenure there was marked by allegations of bias toward Clinton and First Lady Chelsea Clinton as well as allegations he sabotaged colleagues working on political stories or promoted birtherism theories about Barack Obama which later came to be known as “birtherism.” Blumenthal was also appointed Acting Director for Office of Federal Housing Enterprise Oversight (OFHEO), an independent federal agency responsible for monitoring both Fannie Mae and Freddie Mac mortgage giants.

Achievement and Honors

Blumenthal has proposed multiple legislative initiatives designed to strengthen U.S. antitrust law in order to limit harmful conduct by dominant firms and prevent illegal mergers. As Senate Democratic Leader, Blumenthal works diligently in upholding antitrust regulations despite significant challenges they present.

AAI was delighted to present Senator Blumenthal with the 2022 Alfred E. Kahn Award for Antitrust Achievement during a ceremony held in Washington DC. To learn more about this prestigious honor and its recipients click here.

Blumenthal attended Riverdale Country School in Riverdale, Bronx and Harvard College where he served as editor-in-chief of The Harvard Crimson. Additionally, he interned at The Washington Post London Bureau and received the Fiske Fellowship at Trinity College University of Cambridge in England.

Personal Life

Stephen Blumenthal is a board certified cardiologist with over two decades of experience treating diseases of the heart and circulatory system. He practices at North Shore University Hospital at Manhasset.

He has conducted multiple investigations and authored extensive writings on health care policy. He also served as founding chairman of AcademyHealth, an international network of health services researchers.

His parents instilled him with a sense of public service and an abiding faith in hard work paying off, values which guided his life from Harvard College (Editor, The Harvard Crimson) through law clerking for U.S. Supreme Court Justice Daniel Patrick Moynihan to Connecticut Attorney General service where he became one of its most successful advocates for consumer protection, environmental stewardship and worker rights.

Net Worth

Blumenthal has amassed millions as a real estate developer, owning numerous industrial parks, hotels and shopping centers as well as providing mortgage financing and property management services through his company.

Senator and Cynthia Reid own a $3.7 million home in Greenwich, Connecticut and possess multiple assets worth millions according to federal disclosure forms, including as much as $50,000 worth of Krispy Kreme Doughnut stock and over $1 Million worth of capital gains from Pinterest – an image sharing and social media service.

Blumenthal stands as one of the wealthiest members of Congress according to a Roll Call study of financial disclosure reports. His Connecticut colleagues range in ranking from Rep. Rosa DeLauro at No. 73 with an estimated net worth of $4.6 million to Rep. John Larson with a negative $0.1 million net worth.