Report Shows Lawmakers Heavily Invested in War

Pat Shannan
American Free Press
Friday, June 27, 2008

A new study by a nonpartisan research group shows that lawmakers’ stock holdings in various companies doing business with the Defense Department totals more than $196 million, earning the congress critters millions in profits individually since the start of the war in Iraq.

The Washington-based Center for Responsive Politics says that 2006 financial disclosure statements suggest that members’ holdings could pose a conflict of interest as they decide the fate of Iraq war spending. Several members who earned the most from defense 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 concluded.

It is unclear how many members still hold these investments and exactly how much money has been made. Disclosure reports for 2007 are still being vetted. Also, members are required to report only a general range of their holdings.
FULL ARTICLE @ American Free Press