Monday, April 07, 2008

Money Bombs


As Congress gets an update next week on the Iraq war, lawmakers are personally

invested in companies reaping billions of dollars from defense contracts.

By Lindsay Renick Mayer



April 03, 2008 | When Gen. David Petraeus, the top U.S military officer in Iraq, comes to Capitol Hill next week to brief Congress, he will be addressing lawmakers who have more than just a political stake in the five-year war.

Along with their colleagues in the House and Senate, the politicians who will get a status report from the general and the U.S. ambassador to Iraq have as much as $196 million of their own money invested in companies doing business with the Department of Defense, the nonpartisan Center for Responsive Politics has calculated. From aircraft and weapons manufacturers to producers of medical supplies and soft drinks, the investment portfolios of more than a quarter of Congress—and of countless constituents—include holdings in companies paid billions of dollars each month to support America's military in Iraq and elsewhere.

The Investors: Lawmakers with the most money invested in companies with Department of Defense contracts

Member of Congress Minimum Value of Investment Maximum Value of Investment
Sen. John Kerry (D-Mass)
$28,872,067
$38,209,020
Rep. Rodney Frelinghuysen (R-NJ)
$12,081,050
$49,140,000
Rep. Robin Hayes (R-NC)
$9,232,037
$37,105,000
Rep. James Sensenbrenner Jr. (R-Wis)
$5,207,668
$7,612,653
Rep. Jane Harman (D-Calif)
$2,684,050
$6,260,000
Rep. Fred Upton (R-Mich)
$2,469,029
$8,360,000
Sen. Jay Rockefeller (D-WVa)
$2,000,002
$2,000,002
Rep. Tom Petri (R-Wis)
$1,365,004
$5,800,000
Rep. Kenny Ewell Marchant (R-Texas)
$1,163,231
$1,163,231
Rep. John Carter (R-Texas)
$1,000,001
$5,000,000

Includes investments in companies with DOD contracts of $5 million or more, according to 2006 data on FedSpending.org. Members of Congress must report their personal finances annually. Holdings shown here were as of December 31, 2006.

According to the most recent reports of their personal finances, 151 current members of Congress had between $78.7 million and $195.5 million invested in companies that received defense contracts of at least $5 million in 2006. In all, these companies received more than $275.6 billion from the government in 2006, or $755 million per day, according to FedSpending.org, a website of the budget watchdog group OMB Watch.

@ OPED

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I like this part:

"According to her presidential personal financial disclosures, Sen. Hillary Clinton (D-N.Y.) had stock in some defense companies, such as Honeywell, Boeing and Raytheon, but sold the stock in May 2007. Neither of the remaining presidential hopefuls, Democrat Barack Obama and Republican John McCain, reported such holdings on their filings."

Oh I better get rid of the defense stocks, wouldn't want anyone getting any ideas?
May 2007? Collected those first quarter dividends first.

These people do not deserve to be holding public office with such a glaring conflict of interest, John Kerry(bonesman) made the number one slot, you know he wants to bomb Iran.

These people make me sick.

.

11 comments:

DEN said...

A must see Video on YouTube Scull&Bonesmen

David B. Benson said...

Climate change caused deaths begin:

WHO: Climate Change Threatens Millions

micki said...

Oh, oh....since there's a tendency, sometimes unfounded, to judge a person by the company one keeps and the advisors they choose, how do anti-Bonesmen feel about Austan Goolsbee, Obama's economic advisor, being a member of Skull and Bones?

But, on another matter: BARACK OBAMA'S LAW REVIEW COLLEAGUES: Where are they now? Kind of a cool shtick...use your cursor

micki said...

GRAINS GONE WILD

Food fights starting all over the world...

Alan said...

Well, I finally seen something on the TeeVee (msnbc) about the story I read at Jesus' General on Thursday. Here's the post that among other things says Hillary is still telling a story she has been told is not true. Also, the hospital CEO had asked her to stop the b/s. MSNBC says it's no big deal, that Hill's campaign hadn't had a chance to vet the story. haha That's no fkn excuse, especially since she's been told it's not true... and is another example of her willing to say anything it takes to get a bump in the polls.

Hillary Clinton in Eugene, Oregon
=========================
The article is a review of a campaign event.
=================
I wish that chik on MSNBC would LEARN how to say El Dorado. She keeps saying door-RAY-doe instead of door-RAH-doe.

David B. Benson said...

Micki --- I suppose I am pro-BHO in that the alternatives are worse and worser.

I also have little respect for most economists.

Even less for the Skull&Bones amoung them, like the late Milton Friedman...

DEN said...

The target just got bigger.

Iranian President Urges OPEC to Form Joint Bank, Stop Pricing Oil Trades in US Dollars

Staff
AP News

Apr 06, 2008 14:34 EST

Iranian President Mahmoud Ahmadinejad is urging OPEC members to form a joint bank and stop pricing oil trades in U.S. dollars.

According to the Iranian government's Web site, Ahmadinejad told OPEC Secretary General Abdalla Salem el-Badri the cartel "should establish a joint bank as well as having joint currency."

Oil is priced in U.S. dollars on the world market, and the currency's depreciation has concerned producers because it has contributed to rising crude prices and eroded the value of their dollar reserves.

Iran has repeatedly urged OPEC members to shift sales away from dollar. But Iran's proposal to trade oil in a basket of currencies is not supported by enough OPEC members, which include staunch U.S. allies such as leading producer Saudi Arabia.

Hit me! Hit me! sez the Iran prez.

DEN said...

Buckle up!

David B. Benson said...

Enough damage for today...

DEN said...

The scramble for energy is shaping many of the conflicts we can expect in the present century. The danger is not just another oil shock that impacts on industrial production, but a threat of famine. Without a drip feed of petroleum to highly mechanised farms, many of the food shelves in the supermarkets would be empty. Far from the world weaning itself off oil, it is more addicted to the stuff than ever. It is hardly surprising that powerful states are gearing up to seize their share.

This new round of the Great Game did not start yesterday. It began with the last big conflict of the 20th century, which was an oil war and nothing else. No one pretended the first Gulf War was fought to combat terrorism or spread democracy. As George Bush Snr and John Major admitted at the time, it was aimed at securing global oil supplies, pure and simple. Despite the denials of a less honest generation of politicians, there can be no doubt that controlling the country's oil was one of the objectives of the later invasion of Iraq.

@ ALTERNET

And you think it is dog eat dog now? Wait a few years, 2012 nudges ever closer.

DEN said...

Also @ Alternet

Given the fact that it is the target of more than a few conspiracy theories since it was created in 1913, the Federal Reserve System, more commonly known as the "Fed," in media and finance parlance, could be acting with a bit more prudence during these dark economic times. But no, it's gone ahead and damned the depression by doing what the New York Times described as the "unthinkable": bailing out Bear Stearns while giving away hundreds of billions to banks and other institutions whose labyrinthine securitization of our debt economy started this whole mess in the first place.

In other words, rewarding the criminals and screwing the victims.

That kind of behavior is only going to make the conspiracy theorists even cozier. When you already think the Fed has made a serious living from doing everything from transferring public wealth to private hands to signing off on the assassination of John F. Kennedy, you're not going to start thinking better of them when they offload billions onto Bear Stearns, which is a securities firm and not a bank at all. You're not going to get the opposition to stop parroting the usual party lines about the Fed being a privately owned bank that screws Americans by charging interest or compromises the overall interests of the United States by unconstitutionally printing up money like it was going out of style. You're only going to further invigorate them.

That, my friends, is known as reality.

ALTERNET

Is their a sheriff in this burg??