Category Archives: military industrial complex

The Inexplicable Enrichment Of Bush Cronies

The only people who are benefiting from Bush’s war on terror are members of the Military Industrial Complex. Since 9/11, the pay for the CEOs of the top 34 defense contractors in the US has doubled, according to the August 2006 report, “Executive Excess 2006,” by the Institute for Policy Studies, and the United for a Fair Economy.

The bill is rising so fast because the level of war profiteering is unprecedented. The Excess Report lists George David, CEO of United Technologies, as the top earner, making more than $200 million since 9/11, despite investigations into the poor quality of the firm’s Black Hawk helicopters.

Halliburton CEO David Lesar made $26.6 million in 2005, and nearly $50 million since 9/11, an amount that even beats the $24 million that Dick Cheney received in exchange for the guarantee that Halliburton would be the number one military contractor during the Bush administration.

Cheney himself is also taking in war profits, contrary to what he told Tim Russert on “Meet the Press” in 2003, when he denied making any money off his former employer. “Since I left Halliburton to become George Bush’s vice president,” he said, “I’ve severed all my ties with the company, gotten rid of all my financial interest.”

“I have no financial interest in Halliburton,” Cheney told Tim, “of any kind and haven’t had, now, for over three years.”

Those statements were proven false when financial disclosure forms showed that Cheney had received a deferred salary from Halliburton of $205,298 in 2001, $262,392 in 2002, $278,437 in 2003, and $294,852 in 2004.

In 2005, an analysis released by Senator Frank Lautenberg (D-NJ), reported that Cheney continued to hold over 300,000 Halliburton stock options and said their value had risen 3,281% over the previous year, from $241,498 to more than $8 million. [more]

To me, this is the true definition of obscene.

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