REPORT: Generals Strike Gold In Private Defense Industry
Nov 11, 2012 at 1:05 AM
DailyBail in Military Industrial Complex, War, afghanistan, defense, generals, lobbying, military, military industrial complex, pentagon, revolving door, video
Must watch investigation.
The revolving door between the Pentagon and the private sector.
The report (below) and short video, released in partnership with Brave New Foundation, reveal the extent of the Pentagon’s revolving door, in which retired high-ranking generals and admirals cash in on their years of military experience by taking lucrative jobs with the defense industry.
CREW's investigation found70 percent of the 108 three-and-four star generals and admirals who retired between 2009 and 2011 took jobs with defense contractors or consultants. In at least a few cases, these retirees have continued to advise the Department of Defense — all while on the payroll of the defense industry.
Key Findings:
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.