US Defense Contractractors Offer Bounties To Legislators To Start Wars And Perpetuate Them.

Discussion in 'The Water Cooler' started by i'vegotwinners, Jun 27, 2020.

  1. i'vegotwinners

    i'vegotwinners All-American
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    Dec 1, 2006
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    probably of absolutely zero interest to the board since not about Trump or race, but here goes anyway.

    great how our nation's leaders can profit both coming and going from US wars..

    they get huge campaign contributions from the defense contractors, then also profit from their defense contractor stocks..

    some greatest hits from the article,

    "According to a Sludge review of financial disclosures, 51 members of Congress and their spouses own between $2.3 and $5.8 million worth of stocks in companies that are among the top 30 defense contractors in the world. Members of Congress generally report the values of their investments in ranges, so it’s not possible to know exactly how much their stocks are worth".

    "Members of Congress’ investments in defense contractors may present more significant potential conflicts of interest than investments in other industries because the contractors rely heavily on defense spending that is approved by Congress for their revenue".

    "More than 70% of Lockheed Martin’s $51 billion in 2018 revenue came from sales to the U.S. government, for example. Companies like Lockheed Martin, Northrop Grumman, and Raytheon are considered “pure plays” because they sell their products almost exclusively to the government through appropriations approved by Congress".

    "In the Senate, nearly one-third of the members of the Defense Subcommittee of the Appropriations Committee own stocks in top defense contractors".

    "In the 2020 Defense appropriations bill, the subcommittee approved $1.85 billion for 18 more F-35 Joint Strike Fighter aircrafts and spare parts from Lockheed Martin. Subcommittee member Sen. Roy Blunt (R-Mo.) owns as much as $100,000 worth of stock in Lockheed Martin. The subcommittee also recommended $1.1 billion for 6 P-8A Poseidon aircraft, which is a maritime patrol and reconnaissance plane made by Boeing. Subcommittee members Dianne Feinstein (D-Calif.), Susan Collins (R-Maine), and Jerry Moran (R-Kansas) own as much as a combined $750,000 in Boeing stock"

    Sen State Party Max Value of Investments Stocks
    David Perdue Georgia R $100,000 Honeywell, Boeing
    Roy Blunt Missouri R $100,000 Lockheed Martin
    Susan Collins Maine R $101,000 Honeywell, United Technologies, Boeing
    Rick Scott Florida R $106,000 Raytheon, Lockheed Martin
    Tom Carper Delaware D $130,000 Honeywell, Raytheon, Boeing
    Bill Cassidy Louisiana R $15,000 United Technologies
    John Hoeven North Dakota R $250,000 Honeywell
    John Boozman Arkansas R $30,000 General Dynamics, Honeywell
    Sheldon Whitehouse Rhode Island D $348,998 Honeywell, United Technologies, Boeing, Raytheon
    Gary Peters Michigan D $50,000 United Technologies
    Jerry Moran Kansas R $50,000 Boeing
    Tina Smith Minnesota D $50,000 Huntington Ingalls
    Shelley Moore Capito West Virginia R $60,000 United Technologies, General Dynamics, Lockheed Martin
    Dianne Feinstein California D $650,000 Boeing
    Mitt Romney Utah R $7,000 Honeywell, United Technologies, Northrop Grumman, Raytheon

    "House Oversight and Reform Committee Government Operations Subcommittee Chairman Rep. Gerry Connolly (D-Va.) owns as much as $400,000 worth of stock in Leidos, which is paid billions of dollars to provide information technology services for the Defense Department. In May 2019, Leidos CEO Roger Krone testified before Connolly’s committee in favor of legislation calling on the government to guarantee back pay for contractors in the wake of government shutdowns. Connolly had written a letter to House appropriators months earlier seeking support for such a bill".

    Reps Invested in Top Defense Stocks
    Sludge review of 2018 annual financial disclosures filed with the House Clerk's office. Stocks are owned by the representatives, their spouses, or jointly.

    Page 1 of 2
    Rep. State District Party Max Amount of Investments Stocks
    Steve Cohen Tennessee TN-9 D $415,000 Northrop Grumman, Boeing, Raytheon
    Gerry Connolly Virginia VA-11 D $400,000 Leidos
    Ro Khanna California CA-17 D $376,000 Boeing, Honeywell, Huntington Ingalls, Lockheed Martin, Raytheon, Northrop Grumman, United Technologies,
    Greg Gianforte Montana At Large R $309,856 Lockheed Martin, Northrop Grumman, Leonardo, Raytheon
    Debbie Dingell Michigan MI-12 D $300,000 Honeywell, United Technologies
    Phil Roe Tennessee TN-1 R $203,230 Lockheed Martin, United Technologies, Honeywell
    Fred Upton Michigan MI-6 R $155,000 Honeywell, General Dynamics, Boeing, Northrop Grumman, Raytheon, United Tehnologies
    Bob Gibbs Ohio OH-7 R $150,000 Boeing, Honeywell
    Joe Kennedy Massachusetts MA-4 D $150,000 Honeywell, United Technologies
    Kevin Hern Oklahoma OK-1 R $150,000 Boeing, Honeywell, United Technologies
    Francis Rooney Florida FL-19 R $135,000 General Dynamics, Leidos, Boeing, Honeywell, Lockheen Martin, Raytheon, Northrop Grumman, United Technologies
    David Joyce Ohio OH-14 R $100,000 Boeing
    David Price North Carolina NC-4 D $100,000 Honeywell, United Technologies
    Thomas Suozzi New York NY-3 D $100,000 Boeing
    David McKinley West Virginia WV-1 R $80,000 United Technologies
    Dean Phillips Minnesota MN-3 D $65,000 Textron, Honeywell
    Kurt Schrader Oregon OR-5 D $65,000 Lockheed, Raytheon
    Mike Kelly Pennsylvannia PA-16 R $65,000 Boeing, Northrop
    Dwight Evans Pennsylvannia PA-3 D $50,000 Huntington Ingalls
    Mark Meadows North Carolina NC-11 R $50,000 Raytheon
    Table: SLUDGE Source: Office of the Clerk of the U.S. House of Representatives Get the data Created with Datawrapper

    Page 2 of 2
    Rep. State District Party Max Amount of Investments Stocks
    John Yarmuth Kentucky KY-3 D $45,000 Boeing, General Dynamics, Honeywell
    Lois Frankel Florida FL-21 D $45,000 Honeywell, Lockheed Martin, Northrop Grumman
    Mike Sherril New Jersey NJ-11 D $45,000 Airbus, General Dynamics, Honeywell
    Van Taylor Texas TX-3 R $45,000 General Dynamics, Honeywell, Leidos
    Jim Sensenbrenner Wisconsin WI-5 R $37,269 General Dynamics, Honeywell, Leidos, Northrop Grumman, United Technologies
    John Rutherford Florida FL-4 R $30,000 BAE Systems, Lockheed Martin
    Katherine Clark Massachusetts MA-5 D $30,000 Honeywell
    Rob Wittman Virginia VA-1 R $30,000 Lockheed Martin, Honeywell
    Daniel Meuser Pennsylvannia PA-9 R $15,000 Lockheed Martin
    David Rouzer North Carolina NC-7 R $15,000 Boeing
    Dina Titus Nevada NV-1 D $15,000 Honeywell
    Lizzie Fletcher Texas TX-7 D $15,000 United Technologies
    Rick Allen Georgia GA-12 R $15,000 United Technologies
    Susie Lee Nevada NV-3 D $15,000 Raytheon
    Bill Flores Texas TX-17 R $14,663 Lockheed Martin
    Hal Rogers Kentucky KY-5 R $4,046 Northrop Grumman, United Technologies
    Table: SLUDGE Source: Office of the Clerk of the U.S. House of Representatives Get the data Created with Datawrapper

    and on the campaign contribution side,

    "Rep. Pete Visclosky (D-Ind.) is the chairman of the Defense Subcommittee of the House Committee on Appropriations, which allocates funds for the military and contractors that work with and sell weapons to the Department of Defense.

    Since 1989, Visclosky has received $1.7 million in campaign contributions from the defense industry, more than any other Democrat in Congress, according to the Center for Responsive Politics.

    House Defense Appropriations Subcommittee Members
    Career contributions from PACs and employees of the defense industry, in descending amounts, to House Democrats and Republicans.

    Member Total
    Rep. Pete Visclosky (D-Ind.) $1,716,708
    Rep. Dutch Ruppersberger (D-Md.) $1,278,645
    Rep. Marcy Kaptur (D-Ohio) $528,352
    Rep. Tim Ryan (D-Ohio) $380,142
    Rep. Derek Kilmer (D-Wash.) $366,412
    Rep. Henry Cuellar (D-Tex.) $301,000
    Rep. Pete Aguilar (D-Calif.) $289,835
    Rep. Betty McCollum (D-Minn.) $237,020
    Rep. Charlie Crist (D-Fla.) $189,950
    Rep. Ann Kirkpatrick (D-Ariz.) $110,198
    Rep. Cheri Bustos (D-Ill.) $93,301

    Rep. Robert Aderholt (R.-Ala.) $1,344,918
    Rep. Ken Calvert (R.-Calif.) $1,081,954
    Rep. Hal Rogers (R.-Ky.) $1,013,265
    Rep. John Carter (R.-Tx.) $643,650
    Rep. Tom Cole (R.-Okla.) $622,050
    Rep. Mario Diaz-Balert (R-Fla.) $446,350
    Rep. Steve Womack (R-Ark.) $316,926
    For the 116th U.S. Congress, data through Q3 2019.
    Table: David Moore, Sludge Source: Center for Responsive Politics Get the data Created with Datawrapper
    1 i'vegotwinners, Jun 27, 2020
    Last edited: Jun 27, 2020
  2. Krafty97grad

    Krafty97grad Junior
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    Dec 3, 2004
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    Not a new phenomenon post WWII, I don’t believe, a few songs trying to highlight the problem:

    Bob Dylan - Masters of War
    Black Sabbath - War Pigs

    Pearl Jam has a great cover of the first, Faith No More with a good version of the second.
    sglowrider likes this.
  3. mrhighlife

    mrhighlife Freshman
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    Dec 10, 2007
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    HON. Actually looks like a good buy. Currently down about 30 points from a year ago. Up the past month but has dipped the past couple days.
  4. IUclover

    IUclover Freshman
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    Nov 19, 2015
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    This should be a bigger deal but won’t be. I’ve had conversations with two defense contractors recently and both said they basically get overpaid to do not a lot of work. One left one of these bigger companies above as an engineer to work as a contractor.
  5. sglowrider

    sglowrider Hall of Famer
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    Apr 9, 2012
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    Tiny Red Dot
  6. T.M.P.

    T.M.P. Hall of Famer
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    Jul 2, 2014
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    bawlmer and sglowrider like this.
  7. The Vid

    The Vid All-American
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    Oct 16, 2005
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    Old news, why do you think our cops have Batman armor, tanks, and $5K mountain bikes they barely know how to ride.
    7 The Vid, Jun 28, 2020
    Last edited: Jun 28, 2020
    T.M.P. likes this.
  8. jsig

    jsig Senior
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    Apr 8, 2004
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    Because the Republicrats (thank Spike for that) want to give tanks out using taxpayers money to get favors back. If you were given the option to give your tax money to the local government to improve a local school or buy a tank which way would you vote? Instead enter the middlemen, Republicrats, who will be more than happy to spend your money to help out their interests.
  9. i'vegotwinners

    i'vegotwinners All-American
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    Dec 1, 2006
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    definition of terms matter.

    when she says "capitalism", most think only of the the purely theoretical economic system that exists only in the dictionary, and never has or could remotely exist by itself in any country on earth. (and no, socialism can't successfully exist by itself either, thus why all countries are hybrids).

    what she is actually referring to and the "capitalism" that affects our daily lives, is the ever present unalterable "economic natural force" that is controlled by the "capitalism" algorithm, which over rides or corrects any human attempt to go against the algorithm. (Sorry Dave, I can't do that").

    with physical natural forces like gravity and inertia, only an equal or greater force can offset them.

    say as with a ledge that holds up a large rock for a million yrs, but the instant you remove the ledge, the rock instantly falls.

    only govt is a strong enough force to counter the capitalism natural force, and the instant that counter force is removed, the capitalism force algorithm instantly kicks in with the same result as removing the ledge.

    at which point the algorithm will be in control again, and collapse in on itself just as a nuclear chain reaction does absent controls, until meltdown is achieved.

    absent sufficient govt counter forces, the partial segment of any country's economic system that "capitalism" does comprise, constantly has to be bailed out by socialism due to "capitalism's" inherent chain reaction nature, which will always implode in on itself when given enough rope, until meltdown is achieved.

    as for "free markets", most always confuse the term with "competitive markets".

    in fact, free markets are effectively the polar opposite of competitive markets, as the "free" means zero rules, thus allowing them to do whatever it takes to avoid having to compete for customers, or for labor, or with suppliers.

    the capitalism algorithm mandates avoiding competition and competing at all costs..

    and "free" to do whatever it takes to lower labor and supplier costs, and maximize price.
    9 i'vegotwinners, Jun 30, 2020
    Last edited: Jun 30, 2020

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