New financial filingsIt was revealed that Rep. Marjorie Taylor Greene, a far right Republican from Georgia, bought up to $15,000 of stock in defense companies and energy companies just two days before Russian forces invaded Ukraine.
Greene bought shares in Lockheed Martin, the defense industry giant, as well as Caterpillar military supplier. She also purchased stock in Chevron, NextEra Energy and a utility and energy company.
All of these companies’Stocks have risen in the weeks since Vladimir Putin invaded Ukraine, with Lockheed Martin increasing by around 20%.
The purchases were the day before Greene complained on Twitter about war profiteering. “War and rumors of war is [sic] incredibly profitable and convenient,” she wrote. “And just like that, the media has a lie to use as the reason for our shattered economy and out of control inflation.” The next day, after Russian troops launched attacks across Ukraine, Greene said that the invasion was “no surprise” – contrary to what Experts on the situationThey were saying.
According to Greene’s own logic, however, if the invasion was no surprise, then she would also be one of the war profiteers that she complained about in her tweet. Armed conflict It is extremely helpfulFor the defense industry; stocks of major European and U.S. defence contractors are soaringBecause of the conflict.
Oil companies have also sought to exploit the invasion to expand their oil and gas exploration in America. In the immediate aftermath of the initial attacks, Conservative lawmakers and oil companiesGreene was one of the first to call for an increase in oil production.
As they appear You can get rid of inflationOil companies could be increasing oil prices to make a profit as the conflict rages on. Stocks are in ExxonIn recent weeks, Chevron and other giant oil companies have seen their stock prices rise.
Rep. Ilhan Omar (D-Minnesota) criticized Greene’s fortuitous stock purchases on Monday, saying “Add this to the list of why members of Congress should never be allowed to trade stocks.” According to InsiderGreene is amongThe Congress’s most active stock trader.
It’s illegal for members of Congress to trade stock based on privileged information that isn’t available to the public, as that would constitute insider trading. It’s unclear if Greene could have been operating on insider information in this instance, although this seems unlikely given the circumstances.
Lockheed Martin and other defense contractors are still available. were boastingIn January, the escalating tensions with Russia and Ukraine could be a boon for business. Lockheed Martin spends tens of millionsEvery year, Congress receives millions of dollars in lobbying.
Members of both parties have been pushing to ban stock trade for members of Congress. A blind trustOder by requiring them Divert from stocks entirely. The Committee on House Administration has scheduledA hearing was held to discuss the issue. This is a critical step towards the passage of such legislation. Saying “It is crucial” is key.
While there are some Republicans that support such legislation Greene appears not to be one of them.
