From: U.S. Lawmakers Invested in Iraq, Afghanistan Wars
Members of Congress invested nearly 196 million dollars of their own money in companies that receive hundreds of millions of dollars a day from Pentagon contracts to provide goods and services to U.S. armed forces, say nonpartisan watchdog groups.
David Petraeus, the top U.S. general in Iraq, is to brief the Senate Foreign Relations and Armed Services committees on Tuesday and Wednesday. The latest findings are unlikely to have a significant impact on this week's proceedings but could stoke anti-incumbent sentiment in this year of presidential and legislative elections.
Lawmakers charged with overseeing Pentagon contractors hold stock in those very firms, as do vocal critics of the war in Iraq, says the Centre for Responsive Politics (CRP).
Senator John Kerry, the Democrat from Massachusetts who staked his 2004 presidential bid in part on his opposition to the war, tops the list of investors. His holdings in firms with Pentagon contracts of at least five million dollars stood at between 28.9 million dollars and 38.2 million dollars as of Dec. 31, 2006. Kerry sits on the Senate foreign relations panel.
Members of Congress are required to report their personal finances every year but only need to state their assets in broad ranges.
Other top investors include Representative Rodney Frelinghuysen, a New Jersey Republican with holdings of 12.1 million - 49.1 million dollars; Rep. Robin Hayes, a North Carolina Republican (9.2 million - 37.1 million dollars); Republican Rep. James Sensenbrenner Jr. of Wisconsin (5.2 million - 7.6 million dollars); and Rep. Jane Harman, a California Democrat (2.7 million - 6.3 million dollars).
Sen. Jay Rockefeller, the Democrat and former governor of West Virginia who chairs the Senate Select Intelligence Committee, invested some 2.0 million dollars in Pentagon contractors, CRP says.
Other panel chiefs who invested in defence firms include Sen. Joseph Lieberman, the Connecticut Independent who presides over the Senate Homeland Security and Governmental Affairs Committee, and Rep. Howard Berman, the California Democrat who heads the House Foreign Affairs Committee.
In all, 151 current members of Congress -- more than one-fourth of the total -- have invested between 78.7 million dollars and 195.5 million dollars in companies that received defence contracts of at least 5.0 million dollars, according to CRP.
These companies received more than 275.6 billion dollars from the government in 2006, or 755 million dollars per day, says budget watchdog group OMB Watch.
The investments yielded lawmakers 15.8 million - 62 million dollars in dividend income, capital gains, royalties, and interest from 2004 through 2006, says CRP...
[ With gratitude to Jenni for sending ]
1 comment:
As long as our politicians are this heavily invested in profiting off the death and misery of others, I think we'll keep deluding ourselves that we are a nation of peace and justice while continuing the tradition of starting unfounded wars against countries that were never a threat to us. :-(
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