{"id":36621,"date":"2024-10-02T11:41:43","date_gmt":"2024-10-02T18:41:43","guid":{"rendered":"https:\/\/occupysf.net\/?p=36621"},"modified":"2024-10-02T11:41:44","modified_gmt":"2024-10-02T18:41:44","slug":"so-sick-war-profiteer-stocks-jump-as-iran-strikes-israel","status":"publish","type":"post","link":"https:\/\/occupysf.net\/index.php\/2024\/10\/02\/so-sick-war-profiteer-stocks-jump-as-iran-strikes-israel\/","title":{"rendered":"‘So Sick’: War Profiteer Stocks Jump as Iran Strikes Israel"},"content":{"rendered":"\n
\"'So<\/figure>\n\n\n\n

A man surveys a heavily damaged school building in Israel’s southern city of Gedera on October 1, 2024, after an Iranian missile attack.<\/p>\n\n\n\n

\u00a0(Photo: Menahem Kahana\/AFP via Getty Images)<\/p>\n\n\n\n

“Remember that members of Congress are permitted to own stock in war manufacturing, so when they vote to send more bombs or send our loved ones to war, they profit personally,” said Rep. Rashida Tlaib.<\/h2>\n\n\n\n

JESSICA CORBETT<\/a><\/p>\n\n\n\n

Oct 01, 2024 (CommonDreams.org)<\/a><\/p>\n\n\n\n

Mirroring Wall Street’s response<\/a> to Israel<\/a> launching its assault on the Gaza<\/a> Strip nearly a year ago, stocks of companies that make money off of war soared on Tuesday after Israelis initiated a ground invasion into Lebanon and Iran sent scores of ballistic missiles toward Tel Aviv and other targets.<\/p>\n\n\n\n

Zeteo<\/em>‘s Prem Thakker highlighted<\/a> the performance by three key American multinationals\u2014Lockheed Martin, Northrop Grumman, and RTX, formerly known as Raytheon<\/a>\u2014and noted that it came “while the wider market is down today.”<\/p>\n\n\n\n

CNBC<\/em> similarly attributed<\/a> the market’s Tuesday trends to “growing tensions in the Middle East” and reported<\/a> that another U.S. defense contractor, L3Harris Technologies, “advanced 3%.”<\/p>\n\n\n\n

Responding to Thakker’s observations on social media, U.S. Rep. Rashida Tlaib<\/a> (D-Mich.) called<\/a> the trends “so sick.”<\/p>\n\n\n\n

“Remember that members of Congress are permitted to own stock in war manufacturing, so when they vote to send more bombs or send our loved ones to war, they profit personally,” added Tlaib, a critic of war in general but especially Israel’s recent violence.<\/p>\n\n\n\n

Tlaib, the only Palestinian American in Congress, has condemned the ongoing Israeli assault on Gaza\u2014launched after a Hamas-led attack on Israel\u2014as genocidal. Israel faces a genocide case at the International Court of Justice.<\/p>\n\n\n\n

https:\/\/x.com\/KarimMakdisi\/status\/1841191376496873791?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1841191376496873791%7Ctwgr%5E898e0f53f726f108e262345b0e8bbe07871d2b03%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.commondreams.org%2Fnews%2Fwar-profiteering<\/p>\n\n\n\n

As of Tuesday, officials in Hamas-governed Gaza put<\/a> the death toll at 41,638, with 96,460 people injured, though thousands remain missing in the remnants of devastated civilian infrastructure across the coastal enclave.<\/p>\n\n\n\n

In addition to bombing and starving Palestinians in Gaza, Israel\u2014which receives billions of dollars in annual U.S. military support\u2014has stoked<\/a> fears of a wider regional war with a July assassination<\/a> of a Hamas leader in the Iranian capital of Tehran and its recent escalation<\/a> in Lebanon, home to the political and paramilitary group Hezbollah.<\/p>\n\n\n\n

The White House said<\/a> Tuesday that President Joe Biden and Vice President Kamala Harris<\/a>, the Democratic nominee for the November election, “are monitoring the Iranian attack against Israel from the White House Situation Room and receiving regular updates from their national security team. President Biden directed the U.S. military to aid Israel’s defense against Iranian attacks and shoot down missiles that are targeting Israel.”<\/p>\n\n\n\n

Meanwhile, there has been growing criticism of seemingly unconditional U.S. support for Israel’s right-wing government in Congress. However, as Sludge<\/em> pointed out Tuesday, some lawmakers are set to benefit from companies that are doing well thanks to the bloodshed and instability in the Middle East.<\/p>\n\n\n\n

https:\/\/x.com\/Sludge\/status\/1841167367667089829?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1841167367667089829%7Ctwgr%5E898e0f53f726f108e262345b0e8bbe07871d2b03%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.commondreams.org%2Fnews%2Fwar-profiteering<\/p>\n\n\n\n

Sludge<\/em> cited recent reporting<\/a> by co-founder David Moore, who detailed how “at least 50 members of Congress or other members of their households hold stock in defense contractors, companies that receive hundreds of billions of dollars annually from congressionally crafted Pentagon appropriations legislation.”<\/p>\n\n\n\n

“The total value of the federal lawmakers, defense contractors stock holdings could be as much as $10.9 million,” wrote Moore, who analyzed 2023 financial disclosures and stock trades. “The most widely held defense contractor stock among senators and representatives is Honeywell, an American company that makes sensors and guiding devices that are being used by the Israeli military in its airstrikes in Gaza.”<\/p>\n\n\n\n

Tlaib has introduced<\/a> the Stop Politicians Profiting from War Act, which would ban members of Congress, their spouses, and their dependent children from trading defense stocks or having financial interests in companies that do business with the U.S. Department of Defense.<\/p>\n\n\n\n

This post has been updated with a reference to the Stop Politicians Profiting from War Act.<\/em><\/p>\n\n\n\n

Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.<\/p>\n\n\n\n

JESSICA CORBETT<\/a><\/p>\n\n\n\n

Jessica Corbett is a senior editor and staff writer for Common Dreams.<\/p>\n\n\n\n

Full Bio ><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A man surveys a heavily damaged school building in Israel’s southern city of Gedera on October 1, 2024, after an Iranian missile attack. \u00a0(Photo: Menahem Kahana\/AFP via Getty Images) “Remember that members of Congress are permitted to own stock in war manufacturing, so when they vote to send more bombs… Continue reading → <\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/36621"}],"collection":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/comments?post=36621"}],"version-history":[{"count":1,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/36621\/revisions"}],"predecessor-version":[{"id":36622,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/36621\/revisions\/36622"}],"wp:attachment":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/media?parent=36621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/categories?post=36621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/tags?post=36621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}