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2001-10-01

"Merchants of Death": Weapons Industry Sees Rising Profits

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As firefighters struggle to clear the wreckage of the World Trade Center and as people mourn the losses of lovedones, new weapons industries are gearing up for wartime level profits.

The New York Times reports today that senior Pentagon officials say that the Pentagon is sharply increasingspending on intelligence gathering and accelerating purchases of reconnaissance planes. They say that much of the$18 billion they hope to get from a $40 billion emergency budge supplement authorized by Congress will be spent onintelligence and surveillance.

Companies such as Northrop Grumman Co., which is developing a long-range unmanned surveillance vehicle and hasinvested heavily n electronic warfare systems, should benefit. Other contractors building the next generation ofsatellite-guided missiles and sensitive snooping devices also will play a role. The chairman and chief executiveofficer of Quarterdeck Investment Partners, a Los Angeles investment bank that focuses on aerospace and defense said,"This is a new war that will require new weapons."

We’re joined right now by former South Carlina state senator Tom Turnipseed, who has written an article forCommonDreams.org on how the weapons industry has already benefited from the attacks.

Guest:

  • Tom Turnipseed, former state senator of South Carolina and human rights activist.

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