Wednesday, February 07, 2007
Daily Kos: 363 tons of cash
Congress finally starts asking about the missing truckloads of cash sent to Iraq. This was loaded up on cargo planes and pallets of the stuff were just wheeled around Iraq and handed out. The CPA firm that was supposed to keep track of where it was all going was run out of a home in San Diego before going under with missing records.
Billions of dollars have disappeared, gone to bribe Iraqis and line contractors’ pockets.
The American-dominated Coalition Provisional Authority could well prove to be the most corrupt administration in history, almost certainly surpassing the widespread fraud of the much-maligned UN Oil for Food Program. At least $20 billion that belonged to the Iraqi people has been wasted, together with hundreds of millions of U.S. taxpayer dollars. Exactly how many billions of additional dollars were squandered, stolen, given away, or simply lost will never be known because the deliberate decision by the CPA not to meter oil exports means that no one will ever know how much revenue was generated during 2003 and 2004.This has been updated here. Over a billion dollars was reportedly loaded on a helicopter and never arrived at the bank it was going to. Contractors started playing football with $100,000 blocks of money.
Gary Permalink on 2/07/2007
Without diminishing the possibility of loss of money, my guess is that these accusations are politically motivated. When I was a peace corps volunteer in Albania, Peace corps had to disburse aid and paychecks using cash. It was risky, and probably didn't have the same paper trail. But Peace Corps had already developed procedures for that, and so did DOD (I'm guessing). There's a difference between money being "stolen" and money not being accounted for. As Bremer explained on TV last night, aid needed to be disbursed quickly at certain times.Post a Comment
Still the sheer magnitude of the numbers is worrisome. I also worry a lot about the billions allegedly taken away by Saddam's henchman before the Americans came. What are they spending that money on?