As Congress debates whether to cut military aid to Egypt in the wake of last week's bloody crackdown, the consequences for America could be even worse than for Egypt. The $1.3 billion in aid America sends to Egypt is primarily used to buy weapons from U.S. defense corporations.
HuffPost Live's Ahmed Shihab-Eldin takes a look at the 10 U.S. corporations who profited most from the Egyptian military from 2009 to 2011, according to the Institute for Southern Studies (h/t GlobalPost). Lockheed Martin, which received $259 million for F-16s and night vision sensor systems, leads the pack. Also on the list: DRS Technologies, L3 Communications, Boeing, Raytheon, AgustaWestland, US Motor Works, Goodrich and Columbia Group.
Update: The video above includes, and an earlier version of this post included, Deloitte among the list of the top 10 companies profiting from Egypt's military, quoting its figure at $28.1 million based on the Institute for Southern Studies data. Deloitte released the following statement in response to that figure:
“Several years ago Deloitte performed a small amount of financial management work for the U.S. Navy in connection with the program referenced in the article. The work was completed in 2010 and was of a much smaller size than the article suggests – nowhere near the threshold for inclusion in this top 10 list. “
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