Several U.S. lawmakers have criticized consulting firms McKinsey, Boston Consulting Group (BCG), and others for their ties to Saudi Arabia and China, accusing them of prioritizing their interests over U.S. national security. McKinsey and BCG executives faced scrutiny for refusing to comply with congressional subpoenas and potentially jeopardizing national security. Lawmakers have raised concerns about these firms' lucrative contracts with the U.S. Defense Department and their engagement with Chinese state-owned entities. Additionally, there are calls to ban members of Congress from trading defense stocks to prevent conflicts of interest.
It's simple: Members of Congress shouldn't be allowed to trade individual stocks — and neither should their spouses or dependent children. My bipartisan TRUST in Congress Act would make this ban a reality. I'm happy to now have @RepMillsPress and @RepDeSaulnier join our effort.
McKinsey has been profiting off of U.S. taxpayers while juggling a litany of contracts with companies linked to the Chinese Communist Party. “I have introduced a law that would prohibit you from doing just this, and I will continue to push it until we get a vote on it.” https://t.co/HFCjiL4AM6
Western executives defended themselves, saying that Saudi courts warned them company employees will face jail time if they comply with Congress https://t.co/OP5uYAgNxf
Saudi Arabia says it will jail western firms' employees if they cooperate with LIV-PGA Senate probe https://t.co/TmG2cLwibX https://t.co/SpBD10Samq
McKinsey & Co. has received multi-million dollar contracts from U.S. federal agencies like the DOD and has also engaged with Chinese state-owned entities blacklisted by the U.S. for actively jeopardizing our national security. In testimony yesterday, McKinsey claimed they only… https://t.co/Hl4q7Iy98I
McKinsey and BCG warn staff face jail if they reveal Saudi work https://t.co/dyKl1iZGwb The heads of consulting giants McKinsey and BCG told US lawmakers on Tuesday that their employees in Saudi Arabia could face jail if the firms handed over details of their work for the…
My colleagues continue to funnel billions of our tax dollars to the same defense contractors that many of them are invested in and taking campaign donations from. I’m introducing the Stop Politicians Profiting from War Act to ban members of Congress from trading defense stocks. https://t.co/NNjHVW0UUV
Josh Hawley is America First: "Companies like McKinsey make millions doing business in China - including helping their military - and then turn around and make millions off the US Defense Department. That should be illegal." https://t.co/Sy4nTBXbx1
I pressed McKinsey, Boston Consulting Group, Teneo, and M. Klein & Co. at a hearing about their refusal to comply with congressional subpoenas. These firms appear to have placed their loyalties to Saudi Arabia above their loyalty to the US & our national security – unacceptable. https://t.co/KTOMt0eVXx