"Even if you win the rat race, you're still a rat.”
During the Civil War J. P. Morgan bought
five thousand rifles for $3.50 each from an army arsenal
and sold them to generals in the field for $22 each.
The rifles were defective and would shoot off the thumbs of the soldiers using them.
A congressional committee noted this in the small print of an obscure report, but a federal judge upheld the deal as the fulfillment of a valid legal contract.
the tradition continues...
David H. Brooks, the founder and former chief executive of DHB Industries, Inc., and Sandra Hatfield, the former chief operating officer, are accused of falsely inflating the value of the inventory of the company's top product, the Interceptor vest, to help meet profit margin projections.
What really makes David H Brooks' $250 million in war windfalls particularly obscene is that the equipment which boosted his fortunes appears not to work very well.
In May 2005, the US Marines recalled more than 5,000 DHB armored vests after questions were raised about their effectiveness in stopping 9 mm bullets.
In November, the Marines and Army announced a recall of an additional 18,000 DHB vests.
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