mac_hine
12-02-2012, 05:24 PM
http://libertyblitzkrieg.com/2012/12/02/the-pentagons-revolving-door-with-defense-contractors-some-shocking-statistics/
High ranking generals and admirals earn their stars. They earn their stripes. Then, they earn their cash. New research by Citizens for Responsibility and Ethics in Washington (CREW) found 70% of the 108 three-and-four star generals and admirals who retired between 2009 and 2011 took jobs with defense contractor or consultants. In at least a few cases, the retirees have continued to advise the Department of Defense while on the payroll of defense contractors, suggesting the Pentagon may not always be receiving unbiased counsel.
A Boston Globe investigation revealed the number of retired three-and-four star generals and admirals moving into lucrative defense industry jobs rose from less than 50% between 1994 and 1998 to a stratospheric 80% between 2004 and 2008.
- From Strategic Maneuvers: The Revolving Door from the Pentagon to the Private Sector, a report by CREW
Citizens for Responsibility and Ethics in Washington (CREW) has just released a fantastic new report on the revolving door between the Pentagon and the private sector, which raises serious concerns not only about ethics and corruption within the defense sector, but also raises issues of national security if retired generals are merely acting as mercenaries once they retire. Meanwhile, these are the folks we are supposed to allow to read all of our emails and communications without warrants??
When I first figured out the gigantic ponzi scheme, theft and fraud within the financial system, centered around the Federal Reserve system and the TBTF banks, as well as the revolving door between the SEC, Treasury Department, etc and Wall Street firms, I never imagined the same thing goes on in virtually every sector of our corrupt crony capitalist economy…including the military.
One of the prime examples of the dangers of this activity outlined in the report revolves around Lt. Gen. Robert Dail. He retired from the Army in January 2009 and by March 2009 had become the president of Supreme Group USA. Supreme Foodservice had been paid at least $6.8 billion to provide food to U.S. and coalition troops in Afghanistan, but then the Pentagon accused it of overcharging by hundreds of millions of dollars. Despite this, the contact was renewed during Lt. Gen. Dail’s time there and in June 2012, the company was actually awarded an additional $1.5 billion contract to ease the transition to a new vendor.
Absolutely incredible. Other key findings in the report are:
Retired generals can make more than their yearly military pay by serving on corporate boards
Contractors have increased spending on lobbying for 40 percent in the last five years
The U.S. government paid the top five defense contractors $113 billion in 2011
As of early 2012, 68 percent of lobbyists for the top five defense contractors had prior public sector experience
Pentagon rules prohibiting the revolving door are riddled with loopholes
The entire report can be found here. http://www.citizensforethics.org/pages/strategic-maneuvers-generals-defense-department-revolving-door
In Liberty,
Mike
---------------------------------
This blog site seems real solid. Here is the authors about page:
My name is Michael Krieger and I am a recovering Wall Street employee.
For those that don’t already know my background, I graduated from Duke University in 2000 with a double major in Economics and Spanish. I took a job at Lehman Brothers upon graduation and worked with the Oil analyst in the Equity Research Department. In 2005, I joined Sanford Bernstein where I served as the Commodities Analyst on the trading floor. About halfway through my time there I started to branch out and write opinions on bigger picture “macro” topics that no one else at the firm was covering. These opinion pieces were extremely popular throughout the global investment community and I traveled around providing advice to some of the largest mutual funds, pension funds and hedge funds in the world.
I loved my job but as time passed I started to educate myself about how the monetary and financial system functions and what I discovered disgusted me. I no longer felt satisfied working within the industry and I resigned in January 2010. At that point I started a family investment office and continued to write macro pieces on economic, social and geopolitical topics. My writings have continued to gain a larger and larger audience as time has passed and I believe that now is the time to create my own space on the web.
I don’t know where this blog will take me but I am excited for the journey. My number one goal is to help as many people as possible protect themselves from the financial and social calamity that is coming to this planet as a consequence of the actions of the Central Planners and those that play ball with them as a means to enrich themselves at the expense of the species. I am dedicated to restoring Liberty to the United States of America.
Please come join me in the Liberty Blitzkrieg.
Mike
High ranking generals and admirals earn their stars. They earn their stripes. Then, they earn their cash. New research by Citizens for Responsibility and Ethics in Washington (CREW) found 70% of the 108 three-and-four star generals and admirals who retired between 2009 and 2011 took jobs with defense contractor or consultants. In at least a few cases, the retirees have continued to advise the Department of Defense while on the payroll of defense contractors, suggesting the Pentagon may not always be receiving unbiased counsel.
A Boston Globe investigation revealed the number of retired three-and-four star generals and admirals moving into lucrative defense industry jobs rose from less than 50% between 1994 and 1998 to a stratospheric 80% between 2004 and 2008.
- From Strategic Maneuvers: The Revolving Door from the Pentagon to the Private Sector, a report by CREW
Citizens for Responsibility and Ethics in Washington (CREW) has just released a fantastic new report on the revolving door between the Pentagon and the private sector, which raises serious concerns not only about ethics and corruption within the defense sector, but also raises issues of national security if retired generals are merely acting as mercenaries once they retire. Meanwhile, these are the folks we are supposed to allow to read all of our emails and communications without warrants??
When I first figured out the gigantic ponzi scheme, theft and fraud within the financial system, centered around the Federal Reserve system and the TBTF banks, as well as the revolving door between the SEC, Treasury Department, etc and Wall Street firms, I never imagined the same thing goes on in virtually every sector of our corrupt crony capitalist economy…including the military.
One of the prime examples of the dangers of this activity outlined in the report revolves around Lt. Gen. Robert Dail. He retired from the Army in January 2009 and by March 2009 had become the president of Supreme Group USA. Supreme Foodservice had been paid at least $6.8 billion to provide food to U.S. and coalition troops in Afghanistan, but then the Pentagon accused it of overcharging by hundreds of millions of dollars. Despite this, the contact was renewed during Lt. Gen. Dail’s time there and in June 2012, the company was actually awarded an additional $1.5 billion contract to ease the transition to a new vendor.
Absolutely incredible. Other key findings in the report are:
Retired generals can make more than their yearly military pay by serving on corporate boards
Contractors have increased spending on lobbying for 40 percent in the last five years
The U.S. government paid the top five defense contractors $113 billion in 2011
As of early 2012, 68 percent of lobbyists for the top five defense contractors had prior public sector experience
Pentagon rules prohibiting the revolving door are riddled with loopholes
The entire report can be found here. http://www.citizensforethics.org/pages/strategic-maneuvers-generals-defense-department-revolving-door
In Liberty,
Mike
---------------------------------
This blog site seems real solid. Here is the authors about page:
My name is Michael Krieger and I am a recovering Wall Street employee.
For those that don’t already know my background, I graduated from Duke University in 2000 with a double major in Economics and Spanish. I took a job at Lehman Brothers upon graduation and worked with the Oil analyst in the Equity Research Department. In 2005, I joined Sanford Bernstein where I served as the Commodities Analyst on the trading floor. About halfway through my time there I started to branch out and write opinions on bigger picture “macro” topics that no one else at the firm was covering. These opinion pieces were extremely popular throughout the global investment community and I traveled around providing advice to some of the largest mutual funds, pension funds and hedge funds in the world.
I loved my job but as time passed I started to educate myself about how the monetary and financial system functions and what I discovered disgusted me. I no longer felt satisfied working within the industry and I resigned in January 2010. At that point I started a family investment office and continued to write macro pieces on economic, social and geopolitical topics. My writings have continued to gain a larger and larger audience as time has passed and I believe that now is the time to create my own space on the web.
I don’t know where this blog will take me but I am excited for the journey. My number one goal is to help as many people as possible protect themselves from the financial and social calamity that is coming to this planet as a consequence of the actions of the Central Planners and those that play ball with them as a means to enrich themselves at the expense of the species. I am dedicated to restoring Liberty to the United States of America.
Please come join me in the Liberty Blitzkrieg.
Mike