excalibur
Diamond Member
- Mar 19, 2015
- 18,149
- 34,373
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Things like this happen at the end of Republics as politicians/leaders do everything for themselves and screw over the nation.
Members of Congress raked in profits from defense contractor stocks after voting to send billions in military aid to Ukraine, according to financial disclosures and voting records reviewed by the Daily Caller News Foundation.
The U.S. has delivered more than $20 billion worth of military aid to Ukraine between Jan. 24, a month before Russia invaded, and Nov. 20, according to data compiled by the Council on Foreign Relations, and Congress has approved billions more in spending on Ukraine. To make up for that aid, top defense companies have boosted production, and lawmakers trading on company stocks saw a financial windfall as a result, according to publicly available stock trading data.
Overall, Democratic Rep. Earl Blumenauer of Oregon netted the highest average returns on defense company stocks since 2021 at 40%, according to a chart published Tuesday by Unusual Whales, a site known for exposing how members of Congress profit from trading related to legislative issues. Rep. Marjorie Taylor Greene of Georgia, who has voted against Ukraine aid, was the top Republican at 35.5%. (RELATED: Congress Just Gave The Weapons Industry A Massive Paycheck. Here’s What That Means For US Defense)
While unforeseen demand has left top weapons makers, like Lockheed Martin, Raytheon Technologies and Northrop Grumman, scrambling to meet production targets, defense stocks are performing well overall, according to Investopedia.
Republican Florida Rep. John Rutherford and Blumenauer each bought up to $15,000 in Raytheon stock the day of Russia’s invasion on Feb. 24. Rutherford claimed in his disclosure that his advisers erroneously purchased the stock, and it was sold on March 14 for a 3% gain, according to Unusual Whales.
Rutherford, a member of the House Appropriations Committee, and Blumenauer voted for a $40 billion supplemental military and humanitarian aid package for Ukraine passed in May, the Congressional Record shows.
Former Democratic Rep. Cindy Axne of Iowa sold Lockheed Martin stock for a profit in November, after voting in favor not only of the May supplemental package, but also for a September emergency funding bill that authorized an additional $12 billion in weapons for Ukraine, according to the Congressional Record.
Lawmakers voted with the majority of their party on that measure and the and the omnibus spending bill passed in December, which includes an additional $45 billion in Ukraine aid, the Congressional Record shows. All Democrats supported the continuing resolution in September and all but one voted yea on the omnibus bill, Business Insider reported.
Democratic Rep. Dwight Evans of Pennsylvania also reported a Raytheon sale in November from stock purchased before the war, meaning he voted for the funding bills while having a stake in a top-selling defense company.
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dailycaller.com
Members of Congress raked in profits from defense contractor stocks after voting to send billions in military aid to Ukraine, according to financial disclosures and voting records reviewed by the Daily Caller News Foundation.
The U.S. has delivered more than $20 billion worth of military aid to Ukraine between Jan. 24, a month before Russia invaded, and Nov. 20, according to data compiled by the Council on Foreign Relations, and Congress has approved billions more in spending on Ukraine. To make up for that aid, top defense companies have boosted production, and lawmakers trading on company stocks saw a financial windfall as a result, according to publicly available stock trading data.
Overall, Democratic Rep. Earl Blumenauer of Oregon netted the highest average returns on defense company stocks since 2021 at 40%, according to a chart published Tuesday by Unusual Whales, a site known for exposing how members of Congress profit from trading related to legislative issues. Rep. Marjorie Taylor Greene of Georgia, who has voted against Ukraine aid, was the top Republican at 35.5%. (RELATED: Congress Just Gave The Weapons Industry A Massive Paycheck. Here’s What That Means For US Defense)
While unforeseen demand has left top weapons makers, like Lockheed Martin, Raytheon Technologies and Northrop Grumman, scrambling to meet production targets, defense stocks are performing well overall, according to Investopedia.
Republican Florida Rep. John Rutherford and Blumenauer each bought up to $15,000 in Raytheon stock the day of Russia’s invasion on Feb. 24. Rutherford claimed in his disclosure that his advisers erroneously purchased the stock, and it was sold on March 14 for a 3% gain, according to Unusual Whales.
Rutherford, a member of the House Appropriations Committee, and Blumenauer voted for a $40 billion supplemental military and humanitarian aid package for Ukraine passed in May, the Congressional Record shows.
Former Democratic Rep. Cindy Axne of Iowa sold Lockheed Martin stock for a profit in November, after voting in favor not only of the May supplemental package, but also for a September emergency funding bill that authorized an additional $12 billion in weapons for Ukraine, according to the Congressional Record.
Lawmakers voted with the majority of their party on that measure and the and the omnibus spending bill passed in December, which includes an additional $45 billion in Ukraine aid, the Congressional Record shows. All Democrats supported the continuing resolution in September and all but one voted yea on the omnibus bill, Business Insider reported.
Democratic Rep. Dwight Evans of Pennsylvania also reported a Raytheon sale in November from stock purchased before the war, meaning he voted for the funding bills while having a stake in a top-selling defense company.
...
Lawmakers Voted To Send Billions To Ukraine While Making A Killing On Defense Contractor Stocks
Members of Congress raked in massive profits from defense contractor stocks after voting to send billions in military aid to Ukraine.
dailycaller.com
