quote:

Originally posted by zeitgeist101:
151 Congressmen Derive Financial Profit From War

Ralph Forbes
OpEdNews
May 28, 2008

Who profits from the Iraq war? More than a quarter of senators and congressmen have invested at least $196 million of their own money in companies doing business with the Department of Defense (DoD) that profit from the death and destruction in Iraq.

According to the latest reports, 151 members of Congress invested close to a quarter-billion in companies that received defense contracts of at least $5 million in 2006. These companies got more than $275.6 billion from the government in 2006, or $755 million per day, according to FedSpending.org , a website of the watchdog group OMBWatch.

Congressmen gave themselves a loophole so they only have to report their assets in broad ranges. Thus, they can be off as much as 160 percent. (Try giving the IRS an estimate like that.) In 2004, the first full year after the present Iraq war began, Republican and Democratic lawmakers-both hawks and doves-invested between $74.9 million and $161.3 million in companies under contract with the DoD. In 2006 Democrats had at least $3.7 million invested in the defense sector alone, compared to the Republicans’ "only" $577,500. As the war raged on, so did the billions of profits-and personal investments by Congress members in war contractors, which increased 5 percent from 2004 to 2006.




Investments in these contractors yielded Congress members between $15.8 million and $62 million in personal income from 2004 through 2006, through dividends, capital gains, royalties and interest. Sen. John Kerry (D-Mass.) and Rep. James Sensenbrenner (R-Wis.), who are two of Congress’s wealthiest members, were among the lawmakers who garnered the most income from war contractors between 2004 and 2006: Sensenbrenner got at least $3.2 million and Kerry reaped at least $2.6 million.

Members of the Senate Foreign Relations and Armed Services committees which oversee the Iraq war had between $32 million and $44 million invested in companies with DoD contracts.

War hawk Sen. Joe Lieberman (IConn.), chairman of the defense-related
Senate Homeland Security and Governmental Affairs Committee, had at least $51,000 invested in these companies in 2006.

Sen. Hillary Clinton (D-N.Y.), who voted for Bush’s war, had stock in defense companies, such as Honeywell, Boeing and Raytheon, but sold the stock in May 2007.

Of the 151 members whose investments are tied to the "defense" (war)
industry, as far as we know, not one of them offered to donate their bloodstained profits to the national treasury to offset the terrible debt they have imposed. Has one of them even offered to donate one cent of their war profits to lessen the debt that increases more than $1 million a minute?

When our boys and girls are wounded the government bills them to return their reenlistment bonus. They have to return any pay they received while they were hospitalized. They have to pay for their helmets and uniforms that are destroyed in the hell of war. But they keep on fighting for these politicians’ right to keep their war profits.

• Sen. John Kerry (D-Mass.) $3,001,006 to $5,015,001
• Sen. Tom Harkin (D-Iowa) $250,001 to $500,000
• Rep. Kenny Ewell Marchant (R-Tex.) $162,074 to $162,074
• Rep. Carolyn B. Maloney (D-N.Y.) $115,002 to $300,000
• Rep. Rodney Frelinghuysen (R-N.J.) $115,002 to $300,000
• Rep. Shelley Berkley (D-Nev.) $100,870 to $100,870
• Rep. James Sensenbrenner Jr. (R-Wis.) $65,646 to $65,646
• Sen. Jeff Bingaman (D-N.M.) $50,008 to $227,000
• Rep. Sam Farr (D-Calif.) $50,001 to $100,000
• Rep. Stephen Ira Cohen (D-Tenn.) $45,003 to $150,000

There never was an exit stategy only lies & war profits. While they profit we pay in higher taxes, cut services & higher gas prices.

We now have an exit strategy & it is called: General Strike 9/11/08.

"Sooner or later all freedom loving Americans will realize that the only way to stop those who would bleed our nation dry, dismantle our constitution, and dissolve our national sovereignty is to say I will not work for you, buy from you, fight for you, or die for you, until the criminals are gone from the halls of our government ."

http://www.infowars.com/?p=2417

quote:

Originally posted by SUNLINER81:

quote:

Originally posted by zeitgeist101:
151 Congressmen Derive Financial Profit From War

Ralph Forbes
OpEdNews
May 28, 2008

Who profits from the Iraq war? More than a quarter of senators and congressmen have invested at least $196 million of their own money in companies doing business with the Department of Defense (DoD) that profit from the death and destruction in Iraq.

According to the latest reports, 151 members of Congress invested close to a quarter-billion in companies that received defense contracts of at least $5 million in 2006. These companies got more than $275.6 billion from the government in 2006, or $755 million per day, according to FedSpending.org , a website of the watchdog group OMBWatch.

Congressmen gave themselves a loophole so they only have to report their assets in broad ranges. Thus, they can be off as much as 160 percent. (Try giving the IRS an estimate like that.) In 2004, the first full year after the present Iraq war began, Republican and Democratic lawmakers-both hawks and doves-invested between $74.9 million and $161.3 million in companies under contract with the DoD. In 2006 Democrats had at least $3.7 million invested in the defense sector alone, compared to the Republicans’ "only" $577,500. As the war raged on, so did the billions of profits-and personal investments by Congress members in war contractors, which increased 5 percent from 2004 to 2006.




Investments in these contractors yielded Congress members between $15.8 million and $62 million in personal income from 2004 through 2006, through dividends, capital gains, royalties and interest. Sen. John Kerry (D-Mass.) and Rep. James Sensenbrenner (R-Wis.), who are two of Congress’s wealthiest members, were among the lawmakers who garnered the most income from war contractors between 2004 and 2006: Sensenbrenner got at least $3.2 million and Kerry reaped at least $2.6 million.

Members of the Senate Foreign Relations and Armed Services committees which oversee the Iraq war had between $32 million and $44 million invested in companies with DoD contracts.

War hawk Sen. Joe Lieberman (IConn.), chairman of the defense-related
Senate Homeland Security and Governmental Affairs Committee, had at least $51,000 invested in these companies in 2006.

Sen. Hillary Clinton (D-N.Y.), who voted for Bush’s war, had stock in defense companies, such as Honeywell, Boeing and Raytheon, but sold the stock in May 2007.

Of the 151 members whose investments are tied to the "defense" (war)
industry, as far as we know, not one of them offered to donate their bloodstained profits to the national treasury to offset the terrible debt they have imposed. Has one of them even offered to donate one cent of their war profits to lessen the debt that increases more than $1 million a minute?

When our boys and girls are wounded the government bills them to return their reenlistment bonus. They have to return any pay they received while they were hospitalized. They have to pay for their helmets and uniforms that are destroyed in the hell of war. But they keep on fighting for these politicians’ right to keep their war profits.

• Sen. John Kerry (D-Mass.) $3,001,006 to $5,015,001
• Sen. Tom Harkin (D-Iowa) $250,001 to $500,000
• Rep. Kenny Ewell Marchant (R-Tex.) $162,074 to $162,074
• Rep. Carolyn B. Maloney (D-N.Y.) $115,002 to $300,000
• Rep. Rodney Frelinghuysen (R-N.J.) $115,002 to $300,000
• Rep. Shelley Berkley (D-Nev.) $100,870 to $100,870
• Rep. James Sensenbrenner Jr. (R-Wis.) $65,646 to $65,646
• Sen. Jeff Bingaman (D-N.M.) $50,008 to $227,000
• Rep. Sam Farr (D-Calif.) $50,001 to $100,000
• Rep. Stephen Ira Cohen (D-Tenn.) $45,003 to $150,000

There never was an exit stategy only lies & war profits. While they profit we pay in higher taxes, cut services & higher gas prices.

We now have an exit strategy & it is called: General Strike 9/11/08.

"Sooner or later all freedom loving Americans will realize that the only way to stop those who would bleed our nation dry, dismantle our constitution, and dissolve our national sovereignty is to say I will not work for you, buy from you, fight for you, or die for you, until the criminals are gone from the halls of our government ."

http://www.infowars.com/?p=2417

I call BRAVO SIERRA on this one!...
Respectfully, SUNLINER81

quote:

Originally posted by Motive25:
What's the big deal? I'll bet that if anyone having a 401K, TSP or regular pension were to look at where their $ is invested, they would find companies doing business with the military on the list.

quote:

Originally posted by Ol_Doc:

quote:

Originally posted by Motive25:
What's the big deal? I'll bet that if anyone having a 401K, TSP or regular pension were to look at where their $ is invested, they would find companies doing business with the military on the list.

The big deal is "conflict of interest." If you are making huge profits from a specific conflict and yet you control funding for that very same conflict, you can decide just how long you would like to continue making huge profits. Get it? You make more money by letting "them" bleed a little longer.

quote:

Originally posted by toddllove:
Easy boys! Think about it....
How many of us are invested 401Ks or other diverse investment plans for retirement? That most likely makes all of us guilty of war profiteering.

quote:

Originally posted by Ol_Doc:

quote:

Originally posted by toddllove:
Easy boys! Think about it....
How many of us are invested 401Ks or other diverse investment plans for retirement? That most likely makes all of us guilty of war profiteering.

Do you possess the direct "power of the purse?" Do you decide when and where we send troops? It may be splitting hairs but I see a difference between a blind investment in a 401K and an intentional investment which derives it's profit from the deaths of our soldiers, when YOU have the power to control when, where and for how long!

quote:

Originally posted by Ol_Doc:

quote:

Originally posted by toddllove:
Easy boys! Think about it....
How many of us are invested 401Ks or other diverse investment plans for retirement? That most likely makes all of us guilty of war profiteering.

Do you possess the direct "power of the purse?" Do you decide when and where we send troops? It may be splitting hairs but I see a difference between a blind investment in a 401K and an intentional investment which derives it's profit from the deaths of our soldiers, when YOU have the power to control when, where and for how long!

quote:

Originally posted by Jade_Gate:

quote:

Originally posted by Ol_Doc:

quote:

Originally posted by Motive25:
What's the big deal? I'll bet that if anyone having a 401K, TSP or regular pension were to look at where their $ is invested, they would find companies doing business with the military on the list.

The big deal is "conflic of interest." If you are making huge profits from a specific conflict and yet you control funding for that very same conflict, you can decide just how long you would like to continue making huge profits. Get it? You make more money by letting "them" bleed a little longer.

Guess maybe I should cash in my savings bonds and divest myself of my shares in GE and Boeing.

This is one of the most slanted, over the left field fence, opinion pieces I've read on military.com.

quote:

Originally posted by Lucky_Lieutenant:

quote:

Originally posted by Ol_Doc:

quote:

Originally posted by toddllove:
Easy boys! Think about it....
How many of us are invested 401Ks or other diverse investment plans for retirement? That most likely makes all of us guilty of war profiteering.

Do you possess the direct "power of the purse?" Do you decide when and where we send troops? It may be splitting hairs but I see a difference between a blind investment in a 401K and an intentional investment which derives it's profit from the deaths of our soldiers, when YOU have the power to control when, where and for how long!

I agree with Doc in part. Members of Congress, in an attempt to avoid conflicts of interest simply should not invest in such companies.

Seriously, they will scrub their portfolios of anything not "green" but they can't get out of defense stocks before they vote for or against a war?

Interestingly Congress will slam oil company profits for example, however, I submit many of them probably own, through at minimum mutual funds, stock in oil companies as do a large population of normal citizens, many of whom are retirees.
DUMP THE DEFENSE STOCKS CONGRESS!

quote:

Originally posted by fnewt:
This is a ridiculous argument. Most senators and congresspersons have a couple of bucks, to say the least -- some have lots of bucks.

People with bucks invest their money in diverse financial products -- stocks, bonds, etc. Most investors, including congressional types, have diversified portfolios. Some of the investments would or could include defense industries.

Investments in defense industries does not necessarily make the investor a war profiteer although one cannot preclude such a possibility.

I think that it is unfair to categorize the mentioned congresspersons as war profiteers absent more information as to their motives. I am, however, critical of them for voting to give the authorization for the president to take us to war in Iraq without first examining the intelligence reports -- for that they deserve our condemnation.

quote:

Originally posted by Ol_Doc:

quote:

Originally posted by fnewt:
This is a ridiculous argument. Most senators and congresspersons have a couple of bucks, to say the least -- some have lots of bucks.

People with bucks invest their money in diverse financial products -- stocks, bonds, etc. Most investors, including congressional types, have diversified portfolios. Some of the investments would or could include defense industries.

Investments in defense industries does not necessarily make the investor a war profiteer although one cannot preclude such a possibility.

I think that it is unfair to categorize the mentioned congresspersons as war profiteers absent more information as to their motives. I am, however, critical of them for voting to give the authorization for the president to take us to war in Iraq without first examining the intelligence reports -- for that they deserve our condemnation.

I would agree if it were a "blind investment" (ie., 401K). Judging from the amount's profitted from the investments, I doubt this is the case with the members of congress. What's wrong...doesn't the American Taxpayer pay their elected representatives enough compensation for the job they do? We can and should EXPECT BETTER than self-initiated conflicts of interest!