One BILLION dollars missing in Iraq.

[Bluebear]

By Patrick Cockburn in Baghdad
Published: 19 September 2005

One billion dollars has been plundered from Iraq's defence ministry in one of the largest thefts in history, The Independent can reveal, leaving the country's army to fight a savage insurgency with museum-piece weapons.

The money, intended to train and equip an Iraqi army capable of bringing security to a country shattered by the US-led invasion and prolonged rebellion, was instead siphoned abroad in cash and has disappeared.

"It is possibly one of the largest thefts in history," Ali Allawi, Iraq's Finance Minister, told The Independent.

"Huge amounts of money have disappeared. In return we got nothing but scraps of metal."

http://news.independent.co.uk/world/middle_east/article313538.ece

[blossomstar]

1. What next? How can this get any worse!

[Cooley Hurd]

2. Is this on top of the already-missing $8 billion?

:shrug:

[OmmmSweetOmmm]

6. Yes, it appears to be different. The $8 Billion was in the US's hands for

rebuilding.

[Rhiannon12866]

11. I thought it was $9 billion...

And Dennis Kucinich was seeking accountability... But what's another billion or two between democracies?:shrug:

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=272&topic_id=325

[Bluebear]

19. Yes, but 1 billion here, 1 billion there, you know.....nt

[spooked]

3. Check out the theft in Iraq by Custer Battles

http://www.sourcewatch.org/index.php?title=Custer_Battles

The CURIOUS thing about it is that Michael Battles of Custer Battles is former CIA and a FUNDRAISER for the REPUBLICAN PARTY!

How convenient the millions for Iraq security that they got was siphoned through the Cayman Islands just in time for the 2004 Presidential election.

[leftchick]

4. coincidence!

:sarcasm: :grr:

[liberal N proud]

5. Did anyone look in Halli burton's pockets?

[moobu2]

7. Don’t worry, Bush will investigate the matter ………LOL

[SalmonChantedEvening]

8. Hmm. Embezzlement... Iraq..... Embezzlement.... Iraq....

Dare one scream the name Chalabi out freaking loud?

Nah. Couldn't be him. :eyes:

[Scurrilous]

9. A billion dollar loot!

I'm sure the MSM (especially FOX) will be all over this.

[The Backlash Cometh]

10. The S.E.C. should just save us alot of time and start investigating

Halliburton.

[Kralizec]

12. They stole a lot more than just a billion... n/t

[lonestarnot]

13. So now we are up to 9 billion 2 million just missing?

[Toots]

14. NO.... American money disappears under Bush* Administration

I am shocked to the core...........

[Stephanie]

15. fuckwadguitar!

lol! :hi:

[goodboy]

16. ONE BILLION DOLLARS, MWWWAAAAHAHAHAH (pic)>>>>

<>

I guess that's on top of the 9bn, Bremer "misplaced" ???
___
WASHINGTON (CNN) -- Nearly $9 billion of money spent on Iraqi reconstruction is unaccounted for because of inefficiencies and bad management, according to a watchdog report published Sunday.

An inspector general's report said the U.S.-led administration that ran Iraq until June 2004 is unable to account for the funds.

"Severe inefficiencies and poor management" by the Coalition Provisional Authority has left auditors with no guarantee the money was properly used," the report said.

"The CPA did not establish or implement sufficient managerial, financial and contractual controls to ensure that funds were used in a transparent manner," said Stuart W. Bowen Jr., director of the Office of the Special Inspector General for Iraq Reconstruction.

http://edition.cnn.com/2005/WORLD/meast/01/30/iraq.audit/

[burythehatchet]

17. in a related development, Dick Cheney has been asked

to form a bi-partisan commission to determine who stole the money. Democrats will be allowed to ask questions on the fifth monday of each month..

[KittyWampus]

18. I've Been Trying To Get DU'ers On This For Months. THIS Is What Will

win us the election in 06. The corruption in Iraq that the GOP refuses to investigate.

CUSTER BATTLES GOT MORE CONTRACTS- even after they were exposed for not providing the services they were paid for.

And the Senate Democrats are investigating this without the GOP, by the way. Just in case DU'ers want to bitch about how they are doing anything.

[Wizard777]

20. Halliburton probably has it, They always have the missing money.

They will continue to have the missing money until accounting mistake is nolonger an excuse for robbery. But would be playing the blame game. We have hordes of 6 year old playing war in Iraq. Opps is an excuse for anything. The law of nations, laws of war, and the geneva convention have been replaced with, Jinx I had my fingers crossed!