Bonilla, the Self-Dealing War Profiteer

(from commentator Larry Romo)

In early 2002, Bonilla bought (through his spouse), tens of thousands of dollars in stock in defense contractor Alliant Techsystems Inc.

Later In 2002, the House Appropriations Committee designated and Congress voted on and authorized $1.25 billion dollars for Alliant Techsytems, Inc. to provide Army munitions, $94 million more than the Department of Defense requested.

That same year, the Alliant Techsystems, Inc. Employees Political Action Committee (PAC) contributed $1,000 to Bonilla’s congressional campaign, in addition to the $500 he received in 2001.

With his vote in 2002 as a congressman and as a member of the Appropriations Committee, Bonilla boosted the value of his own stock in Alliant Techsystems, Inc., a company that is receiving more defense appropriations as the war in Iraq continues, meaning higher stock values and more money for campaign contributions. This conflict of interest is highly unethical for a public official. Bonilla used his position as a congressman to boost his family personal finances and his campaign.

Documentation:

Bonilla’s 2002 Personal Financial Disclosure: Open Secrets

Alliant Techsystems 2002 Fall Report: University of Iowa Business School

Bonilla’s 2002 Campaign Contribution Report: Federal Election Commission.