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Wednesday, August 30, 2006 

War Profiteers are Profiteering from Wars

Merely restating the obvious, right? However, in a new report United for a Fair Economy and the Institute for Policy Studies have provided us with actual figures. And they're striking (read: the kind of figures with lots of zeros).

Since 9/11 CEO pay at 34 publicly traded U.S. corporations where defense contracts make up more than 10 percent of revenues has practically doubled. At the same time, the salaries of CEOs of other publicly traded corporations that aren't heavily involved in military-industrial spending rose only 6 percent. Oil Barrons are making out super nice also.

UFE spokesperson Betsy Leondar-Wright, quoted by Fox News explained the problem succinctly enough: "Why not say that if it's a contract with taxpayer dollars, they can't go to excessive CEO pay...In past wars, there were efforts to limit war profiteering. We're having the reverse here. We're having people treating it as their own little bonanza."

We just did a review of the Berger book on Weather Underground. You can read it at http://willamettereds.blogspot.com/. We would greatly appreciate your thinking on this. 

Posted by bob rossi

We just did a review of the Berger book on Weather Underground. You can read it at http://willamettereds.blogspot.com/. We would greatly appreciate your thinking on this.

Posted by bob rossi

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