This jet fighter is a disaster, but Congress keeps buying it (VIDEO)

This is an excellent explanation of how the military industrial complex works. (Or doesn’t for the American taxpayer.)

Kudos to Trump for putting pressure on the defense contractors. He should keep the pressure on. Particularly when it comes to the F-35 which is a giant overpriced works program for retired military. The littoral ship fleet needs close examination also.

Read More

Lockheed Martin pays $4.7 million to settle charges it lobbied for federal contract with federal money

This is nice. Lockheed Martin runs a nuclear lab in New Mexico which gets federal funds, taxpayer money. The company recently lobbied for an extension of its contract with the government on a no-bid basis. Seeing as Lockheed doesn’t have piles of money lying around (they do) the company figured that the best way to secure a no-bid contract was to use taxpayer dollars which were allocated for national security purposes, and to hire a former congresswoman turned lobbyist to help secure said no-bid contract with the money.

Read More

Is Lockheed Martin too big to fail?

No business, defense contractor, bank, car company or any other type of firm is “too big to fail.” In fact if anything the firms tagged with TBTF are already failing and that is why the taxpayer is forced to prop them. That does not seem to be the case with Lockheed Martin. (Currently that is. Lockheed was bailed out by the taxpayers in 1971, one of the first corporate bailouts.)

By spreading itself out over the American map Lockheed has created lots of friends in Congress.

Read More