No business, defense contractor, bank, car company or any other type of firm is “too big to fail.” In fact if anything the firms tagged with TBTF are already failing and that is why the taxpayer is forced to prop them. That does not seem to be the case with Lockheed Martin. (Currently that is. Lockheed was bailed out by the taxpayers in 1971, one of the first corporate bailouts.)
By spreading itself out over the American map Lockheed has created lots of friends in Congress. A piece for you. A piece for you. Republicans, Democrats, whomever. Now let’s talk about the F-35. That is, let’s talk about more money for the F-35. I hear someone has an election coming up.
“I have never known a congressperson who will oppose federal spending that provides many jobs in their district,”said Chares Knight, co-director of the Project on Defense Alternatives, a Washington think tank focused on defense reform. “What makes compelling political sense for the individual member of Congress often ends up in distorting federal spending priorities. As Lockheed Martin becomes even more dominant in the defense sector it becomes more likely that defense spending choices will be distorted by the particular business interest of this one giant corporation.”