US Denies Iraq Funds Are Missing

[kainah]

The US occupation authority in Iraq rejected claims that billions of dollars earmarked for rebuilding the country had gone missing in "opaque" bank accounts.

Coalition Provisional Authority head Paul Bremer said all funds were being spent or transferred in a "completely transparent" way.

"The entire accounts of the Development Fund for Iraq will be posted on the internet and made available on a regular basis to the members of the international board," Bremer said.

snip...

The British-based charity Christian Aid alleged that $US4 ($A5.69) billion out of an estimated $US5 ($A7.11) billion had "disappeared into opaque bank accounts" administered by the CPA.

The group urged any potential contributor at the conference to demand explanations before pledging any additional assistance, claiming that "no independent body knows where this cash has gone".

more...

http://www.theage.com.au/articles/2003/10/24/1066631607473.html

Another story for the whore media to cover up.

[Jack Rabbit]

1. They won't be missing long

They'll soon turn up as corporate contributions to the Bush re-selection campaingn.

[pinkpops]

2. Yeah

We may not know where they are but somebody does.

[htuttle]

3. Opaque Bank Accounts

Does anyone have any idea how much money one can make off that much money?

5% of $4 Billion is $200,000,000, if my calculator is working properly. It seems that even just control of that much money for a few weeks could make one rich on the money markets, among other places. Hell, just overnight interest on $4 Billion ain't half bad. Who's getting it?

$4 Billion isn't just a lot of money -- it's an 'engine'.

This is precisely why the money was supposed to be administered by the international oversight board.

[kainah]

6. and couldn't you use that much money

to influence and manipulate different markets? I don't know enough about economics to know the answer to that, but we are talking BIG money being (charitably) diverted and (more likely) stolen here. The story is, of course, all over the European press. Meanwhile, the US press is ignoring it. Another story we will have to use alternative media to get out.

[burrowowl]

4. B$

the corporations know where it is, in their coffers.

[arcane1]

5. show me the money!

I trust Paul Bremer about as much as...

fuck it, I don't trust him AT ALL

thieves, looting and pillaging

[kainah]

7. Story hidden under "business" on the AP

http://story.news.yahoo.com/news?tmpl=story&u=/ft/20031023/bs_ft/1066565320409

CPA accused of $4bn accounting failure in Iraq
Thu Oct 23, 2:00 PM ET

By Charles Clover in Baghdad

The US-led Coalition Provisional Authority in Baghdad on Thursday came under renewed fire for a lack of transparency as Christian Aid, a leading British relief organisation, said it had not properly accounted for $4bn in Iraqi assets.

more....

Ah, so now it's an "accounting failure." And business news....

Go over to yahoo and rate it, try to kick it up in their heirarchy.

[arcane1]

8. yes, RATE IT

dammit, I've been rating Yahoo stories all day, lol

but this one needs a kick!

:kick:

[mandyky]

9. Missing funds = bribes to coalition of the "willing"

and to pay off tipsters on where Saddam might be, etc.

[Sticky]

10. Saw this story on CBC this morning

....and was shocked there was nothing on Yahoo.
But found a link anyway.....

http://www.alertnet.org/thenews/fromthefield/106690354068.htm


....and bush wonders why he is not trusted by the rest of the world?

[Guaranteed]

11. Reminds me of that Simpsons with the trillion dollar bill

...Burns lets Castro hold it to look at it for a second, then Burns says "Okay, give it back now...." and Castro looks at him blankly with nothing in his hands and says "Give what back?"