« Vote: Best/Worst Senators | Blog Index | Hello Petroleum, Goodbye Forests, Species, Amtrak... »
Baghdad's Missing Billions Rediscovered

After former CPA head Paul Bremer got grilled by Henry Waxman yesterday, the press has rediscovered the story of the billions of dollars in reconstruction money that went missing during the heady days after the fall of Baghdad. In particular, it's glommed onto the nifty fact that the U.S. government shipped 363 tons of Benjamins (and maybe some Ulysseses, too) to Iraq—much of which was spread around like play money. In his defense, Bremer explained, "We were in the middle of a war, working in very difficult conditions, and we had to move quickly to get this Iraqi money working for the Iraqi people." Apparently democracy is a lot easier to export than standard accounting practices.
The revealing tale of the cash airlift isn't new, however—we wrote about it in September 2005. It's good to see it being picked up again, though. And it gives me an excuse to post this great photo of CPA officials giddily posing with $2 million in cash, which was given to the security contractor Custer Battles, which was accused ofdefrauding the government.
Update: Post amended in light of Custer Battles' fraud conviction being overturned later today.
Posted by Dave Gilson on 02/07/07 at 9:59 AM | E-mail | Print | Digg | de.licio.us | Reddit | Newsvine | Yahoo! MyWeb | StumbleUpon | Netscape | Google |
Comments
Why are'nt these people being charged in crimina court. I believe they committed some crimes?
Posted by: jim conway on 02/07/07 at 4:28 PM
I understand the amount now declared "missing" is about $12 billions. Wouldn't that be nice to put into Social Security solvency or Medicare? No, that money has been eaten up by the filthy corruption that shows what the real reason for this "war" was.
Why cash? There is no excuse. The Iraqi banks continued to function. Visa is still everywhere etc. The phones worked so online charges and money transfers could be handled. There is no excuse. This is organized crime. The perpetrators are traitors and should be spending the rest of their lives behind bars. This is RICO stuff.
Where's the special prosecutor?
Posted by: Jeffry Winters on 02/07/07 at 7:10 PM
I think when this was done was right after the "war" ended and there were no banks, etc. By the way, I read today that Custer Battles was completely vindicated in the allegations of fraud against them when the judge threw their case out.
Posted by: Jim Haugh on 02/07/07 at 8:24 PM
ARCHIVE
September 9, 2007 - September 15, 2007
September 2, 2007 - September 8, 2007
August 26, 2007 - September 1, 2007
August 19, 2007 - August 25, 2007
August 12, 2007 - August 18, 2007
August 5, 2007 - August 11, 2007
July 29, 2007 - August 4, 2007
April 22, 2007 - April 28, 2007
April 15, 2007 - April 21, 2007
April 8, 2007 - April 14, 2007
March 25, 2007 - March 31, 2007
March 18, 2007 - March 24, 2007
March 11, 2007 - March 17, 2007
March 4, 2007 - March 10, 2007
February 25, 2007 - March 3, 2007
February 18, 2007 - February 24, 2007
February 11, 2007 - February 17, 2007
February 4, 2007 - February 10, 2007
January 28, 2007 - February 3, 2007
January 21, 2007 - January 27, 2007
January 14, 2007 - January 20, 2007
RECENT COMMENTS
The Petraeus/Crocker Report: It's Crocker Time! (Part Three) (1)
Ames Tideman wrote:
The testimony was a complete mess. ...
[more]
Scientific Proof That Liberals Are Smarter (4)
MoonDragon wrote:
Can we bias any study to show a tendency for desired resul...
[more]
Protesters in Berkeley: Up a Tree and Fenced In (13)
Brian K wrote:
Kirilovslogic,
Wow. Im not talking about sucking up to th...
[more]
NRA Offers Free Memberships to Soldiers (Step Up, Costco) (17)
Brian K wrote:
Sneezer,
First of all it is NOT his "topic sentance" it is...
[more]
MoveOn, Anbar, and Lantos: Final Thoughts on the Petraeus and Crocker Hearing (1)
Eric Ferguson wrote:
You're not too deep in the weeds on that point about Irani...
[more]
Chuck Hagel, Next SecDef? (4)
bob t wrote:
Wes Clark(Catholic) would be my first choice, but Hagel co...
[more]
Scientific Proof That Liberals Are Not Smarter (4)
Eric Ferguson wrote:
The message intended was a good one, because Petraeus has ...
[more]
Happy Anniversary, Katrina Victims! You Could Celebrate With Cash if You Weren't So Unscrupulous (5)
jah wrote:
I was annoyed by your title, but i understand and relate t...
[more]
White House Advisor Appears to Taunt Bin Laden (10)
Jaime Galarza wrote:
It reminds me of the now infamous "Bring them on" comment....
[more]
Donald Rumsfeld: Not Done Lying! (3)
Jonathan Stein wrote:
Yes, Dan....
[more]
Movable Type 3.33
There is no excuse for the mismanagement. In private business, people would get fired, starting with the president, on down. The money trail should be thoroughly investigated. The Democrats are cowards if they do not thoroughly investigate this matter and put pressure on getting the incompetents fired. This is not a question of politics. Even assuming that it was right to go to Iraq, the subsequent handling is pure incompetency.
Posted by: John Fleischer CPA on 02/07/07 at 10:53 AM