Congress Invested in Defense Contracts

Researched by Leora Johnson and Michael Seramin

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 defense contracts of at least $5 million in 2006. The portfolios include holdings in companies paid billions of dollars each month to support America’s military in Iraq and elsewhere from the manufacture of aircraft and weapons to producers of medical supplies and soft drinks. Investment in wartime contracts is bipartisan; in 2006 Democrats had at least $3.7 million invested in the defense sector alone, compared to Republicans’ $577,500. More Republicans, however, held stock in defense companies in 2006—28 of them, compared to 19 Democrats.

“Strategic Assets” Lindsay Renick Mayer, opensecrets.org, 4/3/2008

http://www.opensecrets.org/news/2008/04/strategic-assets.html