Wednesday, July 12, 2006

Henry Bonilla-a War Profiteer


By Larry Romo (Photo)
Chairman of the Texas DemVets

TEXAS DEMOCRATIC VETERANS PRESS RELEASE
http://www.texasdemocraticveterans.org/

HENRY BONILLA - A WAR PROFITEER

Congressman Henry Bonilla is a War Profiteer. In 2002, he owned through his spouse, tens of thousands of dollars in stock, Alliant Techsystems Inc., a defense contractor.

That same year the Alliant Techsystems, Inc. Employees Political Action Committee (PAC) gave him funds for his campaign. He has also received thousands of dollars in contributions from the same PAC in previous years.

The end of year 2002, Alliant Techsytems Inc, company report states that $1.25 billion dollars for Army munitions were appropriated by Congress to that company, $94 million more than even the Department of Defense requested. The company reports also states that Alliant Techsystems Inc. will get much more defense appropriations if the US goes to war in Iraq and will at a minimum get double digit earnings the next two years due to these appropriations.

Congressman Bonilla and his spouse made money on his Alliant Techsystems stock by the Appropriations Committee voting for this appropriation and made even more money when Congress voted for and we went to war in Iraq.

The more money appropriated to this defense contractor the more the stock price rises. This is highly unethical as he is profiting from the war. Bonilla with his position on the House Appropriations Subcommittee unethically used his position to enrich himself.

A congressman should not be a WAR PROFITEER especially when they vote to send off our young men and women off to war and he is making money off their efforts and the taxpayers.

Documentation:
Bonilla’s 2002 Personal Financial Disclosure: http://www.opensecrets.org/pfds/pfd2002/N00005985_2002.pdf
Alliant Techsystems 2002 Fall Report: http://www.biz.uiowa.edu/Krause/Alliant_TechSystems_F02.pdf'
Bonilla’s 2002 Campaign Contribution Report:
http://query.nictusa.com/cgi-bin/can_give/2001_H2TX23058

3 comments:

progressivegrannie said...

Excellent article, thanks for pointing out how Bonilla is basically representing his wallet and not his constituents.

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