US Lawmakers Invested in Iraq, Afghanistan Wars

By Abid Aslam | Inter Press Service, April 8, 2008

WASHINGTON - U.S. lawmakers have a financial interest in military operations in Iraq and Afghanistan, a review of their accounts has revealed.

Members of Congress invested nearly 196 million dollars of their own money in companies that receive hundreds of millions of dollars a day from Pentagon contracts to provide goods and services to U.S. armed forces, say nonpartisan watchdog groups.

David Petraeus, the top U.S. general in Iraq, is to brief the Senate Foreign Relations and Armed Services committees on Tuesday and Wednesday. The latest findings are unlikely to have a significant impact on this week’s proceedings but could stoke anti-incumbent sentiment in this year of presidential and legislative elections.

Lawmakers charged with overseeing Pentagon contractors hold stock in those very firms, as do vocal critics of the war in Iraq, says the Centre for Responsive Politics (CRP).

Senator John Kerry, the Democrat from Massachusetts who staked his 2004 presidential bid in part on his opposition to the war, tops the list of investors. His holdings in firms with Pentagon contracts of at least five million dollars stood at between 28.9 million dollars and 38.2 million dollars as of Dec. 31, 2006. Kerry sits on the Senate foreign relations panel.

Members of Congress are required to report their personal finances every year but only need to state their assets in broad ranges.

Other top investors include Representative Rodney Frelinghuysen, a New Jersey Republican with holdings of 12.1 million - 49.1 million dollars; Rep. Robin Hayes, a North Carolina Republican (9.2 million - 37.1 million dollars); Republican Rep. James Sensenbrenner Jr. of Wisconsin (5.2 million - 7.6 million dollars); and Rep. Jane Harman, a California Democrat (2.7 million - 6.3 million dollars).

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