14. Congress Invested in Defense Contracts
(find Rep. Fred Upton listed in paragraph 4)
Opensecrets, April 3, 2008 (Upton's share has likely gone Up)
by Lindsay Renick Mayer
The nonpartisan Center for Responsive Politics has calculated that more than 151 members of Congress have up to $195 million invested in major defense contractors that are earning profits from the US military occupations in Iraq and Afghanistan.
When General David Petraeus, the top US military officer in Iraq, went to Capitol Hill to brief Congress in April of 2008, he was addressing lawmakers who had a lot more than just a political stake in the Iraq occupation. Along with their colleagues in the House and Senate, the politicians who got a status report from the general and the US ambassador to Iraq had millions of dollars of their own money invested in companies doing business with the Department of Defense (DoD).
In 2006, the investment portfolios of 151 current members—more than a quarter of Congress—had between $78.7 million and $195.5 million invested in companies that received major defense contracts (over $5 million). The portfolios include holdings in companies paid billions of dollars each month to support America’s military. These companies provided almost everything the military uses, from aircraft and weapons to medical supplies and soft drinks.
Lawmakers with the most money invested in companies with DoD contracts include Sen. John Kerry (D-Mass), with up to $38,209,020; Rep. Rodney Frelinghuysen (R-NJ), with $49,140,000; Rep. Robin Hayes (R-NC), with $37,105,000; Rep. James Sensenbrenner Jr. (R-Wis), with $7,612,653; Rep. Jane Harman (D-Calif), with $6,260,000; Rep. Fred Upton (R-Mich), with $8,360,000; Sen. Jay Rockefeller (D-WVa), with $2,000,002; Rep. Tom Petri (R-Wis), with $5,800,000; Rep. Kenny Ewell Marchant (R-Texas), with $1,163,231; and Rep. John Carter (R-Texas), with up to $5,000,000.
Full article: http://www.projectcensored.org/top-stories/articles/14-congress-invested-in-defense-contracts/
Student Researchers: Leora Johnson and Michael Seramin
Faculty Evaluator: Peter Phillips PhD
Sonoma State University