Sen. James Inhofe Bought Defense Stock Days After Pushing For Record Pentagon Spending--Then Dumped I
Source: The Daily Beast
Just days after signaling his support for unprecedented levels of U.S. defense spending, Sen. James Inhofe (R-OK), the chairman of the Senate Armed Services Committee, reported purchasing tens of thousands of dollars of stock in one of the nation’s top defense contractors.
After The Daily Beast asked about the purchase, Inhofe’s office said the senator had contacted his financial adviser to cancel the transaction and instructed him to avoid defense and aerospace purchases going forward.
Inhofe, who took over the top spot on Armed Services after the death of Sen. John McCain (R-AZ) in August, has repeatedly pressed President Donald Trump to dramatically scale up the Pentagon’s annual budget, which currently stands at $717 billion. Last week, after Trump hinted he would like to scale back parts of that budget, the Senator had a meeting with the president and Defense Secretary James Mattis, after which it was announced that the administration would seek even more defense funding: a record $750 billion in spending for fiscal year 2020.
News of that budget request broke on Sunday. On Tuesday, Inhofe’s financial adviser bought him between $50,000 and $100,000 in stock in defense contractor Raytheon, according to documents filed with Senate ethics officials.
Read more: https://www.thedailybeast.com/sen-james-inhofe-bought-defense-stock-days-after-pushing-for-record-pentagon-spendingthen-dumped-it-when-asked-about-it?ref=wrap
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oh wait.
