Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
Editorials & Other Articles
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Senator James Inhofe purchased stock in defense contractor after pushing for more military spending
Sen. James Inhofe took over leadership of the Senate Armed Services Committee after former chairman Sen. John McCain died.
Washington (CNN)Republican Sen. James Inhofe of Oklahoma, the chairman of the powerful Senate Armed Services Committee, purchased thousands of dollars in defense stock after successfully pushing the Trump administration for more Defense Department spending.
According to his Senate financial disclosure report, Inhofe listed a purchase of $50,000-$100,000 in stock in US defense contractor Raytheon. Inhofe's communications director said he canceled the transaction when he became aware of it.
President Donald Trump recently agreed to a defense budget of $750 billion for the coming year, reversing his plans to shrink a $716 billion defense budget allocated in 2019 that he thought was too much money, calling it "crazy." Trump's decision came out of a meeting with Inhofe, along with Defense Secretary James Mattis and the chairman of the House Armed Services committee, Rep. Mac Thornberry, R-Texas. The listed date for the purchase was Tuesday, a week after the meeting.
The purchase will raise conflict of interest questions because Inhofe is now the leader of the Senate committee that approves the Pentagon's budget. Inhofe recently took over the chairmanship of the committee after the death of Sen. John McCain, the Arizona Republican who had long served as the top Republican on the committee.
According to his Senate financial disclosure report, Inhofe listed a purchase of $50,000-$100,000 in stock in US defense contractor Raytheon. Inhofe's communications director said he canceled the transaction when he became aware of it.
President Donald Trump recently agreed to a defense budget of $750 billion for the coming year, reversing his plans to shrink a $716 billion defense budget allocated in 2019 that he thought was too much money, calling it "crazy." Trump's decision came out of a meeting with Inhofe, along with Defense Secretary James Mattis and the chairman of the House Armed Services committee, Rep. Mac Thornberry, R-Texas. The listed date for the purchase was Tuesday, a week after the meeting.
The purchase will raise conflict of interest questions because Inhofe is now the leader of the Senate committee that approves the Pentagon's budget. Inhofe recently took over the chairmanship of the committee after the death of Sen. John McCain, the Arizona Republican who had long served as the top Republican on the committee.
https://www.cnn.com/2018/12/12/politics/james-inhofe-purchase-raytheon-stock/index.html
9 replies
= new reply since forum marked as read
= new reply since forum marked as read
Kick in to the DU tip jar?
This week we're running a special pop-up mini fund drive. From Monday through Friday we're going ad-free for all registered members, and we're asking you to kick in to the DU tip jar to support the site and keep us financially healthy.
As a bonus, making a contribution will allow you to leave kudos for another DU member, and at the end of the week we'll recognize the DUers who you think make this community great.