Lawmakers and the MICC

with 4 comments

Thanks for letting everyone know on your way out the door, Ike.
Sure would have helped if you had actually tried to do something about it then, since it manifested itself long before your days in office.

Anne Flaherty from AP News writes:

Members of Congress have as much as $196 million collectively invested in companies doing business with the Defense Department, earning millions since the onset of the Iraq war, according to a study by a nonpartisan research group.

The review of lawmakers’ 2006 financial disclosure statements, by the Washington-based Center for Responsive Politics, suggests that members’ holdings could pose a conflict of interest as they decide the fate of Iraq war spending. Several members earning money from these contractors have plum committee or leadership assignments, including Democratic Sen. John Kerry, independent Sen. Joseph Lieberman and House Republican Whip Roy Blunt.

The study found that more Republicans than Democrats hold stock in defense companies, but that the Democrats who are invested had significantly more money at stake. In 2006, for example, Democrats held at least $3.7 million in military-related investments, compared to Republican investments of $577,500.

Overall, 151 members hold investments worth $78.7 million to $195.5 million in companies that receive defense contracts that are worth at least $5 million. These investments earned them anywhere between $15.8 million and $62 million between 2004 and 2006, the center concludes.

It is unclear how many members still hold these investments and exactly how much money has been made. Disclosure reports for 2007 aren’t due until this May. Also, members are required to report only a general range of their holdings.


Written by mudshark

April 3, 2008 at 4:42 pm

4 Responses

Subscribe to comments with RSS.

  1. Yeh, why did he leave it till his farewell address ?

    Hey did you happen to see if ventura was on Charles Goyette today ?


    April 3, 2008 at 5:09 pm

  2. yes, Jesse came on late at around 11:15am eastern. (was supposed to be on @11) I think he stayed through one break, so the total runtime might be around 13 min., iirc. mainly talked about the same things as the LK interview and Charles played the clip of Jesse/RP. he should have it up to AWR tomorrow. you know that KFNX finally upgraded their site, right? I put a link to Charles’ blog in my ‘roll, and there are other audio show clips there that don’t get up to AWR.

    have no idea why no action was taken on it for the eight years he was in. maybe it has something to do with the reason that he had “Congressional” taken out of the speech. don’t want to be pointing too many fingers that may have ended up pointing right back at him? His whole life was the military.


    April 3, 2008 at 5:43 pm

  3. Ah thanks, I’ll check out space Goyettes blog πŸ™‚


    April 4, 2008 at 12:14 pm

  4. hmmm, doesn’t look like they’ve been doing much with it lately, and they dropped the link to it from his main page, so who nows what’s going on with it. you’ll have to go through the main page to get to the clips, and it looks like they are posting them for the past week all at one time, not by the day, as there are no clips for this week yet.


    April 4, 2008 at 3:56 pm

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s