The push for speed follows a funding shortfall for missiles used in the war with Iran, where Congress provided only $8B of the $28B requested by the Pentagon. To bridge the $20B gap and satisfy President Trump's demands to replenish low stockpiles, Feinberg is deploying a Wall Street-style strategy involving government stakes in suppliers. However, reports indicate that many of these new production deals currently lack funding.
Wednesday, October 21, 2026
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Pentagon Awards $250M No Bid Contract to Firm Linked to Steve Feinberg
US Politics11 days ago
The Deputy Secretary of Defense is facing scrutiny over several high-value defense agreements awarded to a private consulting organization with which he has maintained a relationship. These contracts include a $250M deal to provide advisory services to the no. 2 official's office that was granted without a competitive bidding process. Stephen Feinberg, a private-equity billionaire, defended his efforts to accelerate weapon production in his first public interview since taking the role last year.
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