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Stewie
06-14-2011, 03:38 AM
More than $6 billion in Iraq reconstruction funds lost

<cite id="yn-author">
</cite>http://mit.zenfs.com/102/2011/06/AP061023012315.jpg



The Iraqi and U.S. governments have been unable to account for a substantial chunk of the billions of dollars in reconstruction aid the Bush administration literally airlifted into the country. If the cash proves to have been stolen, the heist could represent "the largest theft of funds in national history," according to a report in the Los Angeles Times.
The Times' description of how the billions of dollars entered the country is a must-read (http://us.rd.yahoo.com/dailynews/yblog_thelookout/us_yblog_thelookout/storytext/more-than-6-billion-in-iraq-reconstruction-funds-lost/41844095/SIG=12vqo3vu5/*http://www.latimes.com/news/nationworld/world/la-fg-missing-billions-20110613,0,4414060.story):


Pentagon officials determined that one giant C-130 Hercules cargo plane could carry $2.4 billion in shrink-wrapped bricks of $100 bills. They sent an initial full planeload of cash, followed by 20 other flights to Iraq by May 2004 in a $12-billion haul that U.S. officials believe to be the biggest international cash airlift of all time.

Special inspector general for Iraqi reconstruction Stuart Bowen told the paper the missing $6.6 billion may be "the largest theft of funds in national history."


Iraqi officials say it was the U.S. government's job to keep track of the funds, which were brought in as an emergency measure to keep basic infrastructure going after Saddam Hussein's ouster. House Government Reform Committee investigators found in 2005 evidence of "substantial waste, fraud and abuse in the actual spending and disbursement of the Iraqi funds."


Witnesses testified that millions of dollars were shoved into "gunnysacks" and disbursed to Iraqi contractors on pick-up trucks, with what seemed to be little financial controls or accounting on the part of the U.S. government.

Amnorix
06-14-2011, 06:49 AM
Even better -- Iraq is saying that the lost funds is THEIR money, and they may sue to recover the money the US lost.

I also enjoy hearing that Iraq wants to maintain the price of oil north of $100/bbl, which is higher than the Saudi's target of $80-100/bbl.

All on top of the estimated over $700 billion cost to remove Saddam Hussein and make George Bush feel like a real manly man. Or something...

Iraq....the gift that keeps giving.

Jaric
06-14-2011, 06:55 AM
Even better -- Iraq is saying that the lost funds is THEIR money, and they may sue to recover the money the US lost.

I also enjoy hearing that Iraq wants to maintain the price of oil north of $100/bbl, which is higher than the Saudi's target of $80-100/bbl.

All on top of the estimated over $700 billion cost to remove Saddam Hussein and make George Bush feel like a real manly man. Or something...

Iraq....the gift that keeps giving.

My brain just twitched...

Dave Lane
06-14-2011, 06:57 AM
Obama did it


first in with it!

Ace Gunner
06-14-2011, 06:58 AM
hilarious

FishingRod
06-14-2011, 08:35 AM
Isn’t this a pretty old story or have we just misplaced a few billion more?

Mr. Flopnuts
06-14-2011, 08:54 AM
Government: A lesson in epic waste.

Brock
06-14-2011, 08:56 AM
And Obama's off playing golf, figures.

mikey23545
06-14-2011, 08:58 AM
Government: A lesson in epic waste.

But it should be in charge of every minute segment of our lives, right?...

alpha_omega
06-14-2011, 09:09 AM
Why are we just now hearing about this?

dirk digler
06-14-2011, 09:15 AM
And Obama's off playing golf, figures.

LMAO

Actually I think hcf is out playing golf that is why he didn't create this thread

Mr. Flopnuts
06-14-2011, 09:38 AM
But it should be in charge of every minute segment of our lives, right?...

Who said that? It sure wasn't me. Not anywhere close.

Radar Chief
06-14-2011, 09:58 AM
Isnít this a pretty old story or have we just misplaced a few billion more?

Same story regurgitated.

HonestChieffan
06-14-2011, 10:24 AM
LMAO

Actually I think hcf is out playing golf that is why he didn't create this thread

I dont play golf but I have clubs to sell.


But, on other matters, why...please explain why, did we take cash? Do we give cash usually to these little cavedwelling countries? WTF is up with that?


Is it news to people that cash is what is used to hide. launder, and make untrackable transactions? Hello?

ROYC75
06-14-2011, 10:58 AM
Even better -- Iraq is saying that the lost funds is THEIR money, and they may sue to recover the money the US lost.

I also enjoy hearing that Iraq wants to maintain the price of oil north of $100/bbl, which is higher than the Saudi's target of $80-100/bbl.

All on top of the estimated over $700 billion cost to remove Saddam Hussein and make George Bush feel like a real manly man. Or something...

Iraq....the gift that keeps giving.

We always get taken advantage of .:deevee:

teedubya
06-14-2011, 11:00 AM
More than $6 billion in Iraq reconstruction funds lost

<cite id="yn-author">
</cite>http://mit.zenfs.com/102/2011/06/AP061023012315.jpg



The Iraqi and U.S. governments have been unable to account for a substantial chunk of the billions of dollars in reconstruction aid the Bush administration literally airlifted into the country. If the cash proves to have been stolen, the heist could represent "the largest theft of funds in national history," according to a report in the Los Angeles Times.


LMAO

I've got one bigger.

Sept 10th 2001.

<iframe width="640" height="510" src="http://www.youtube.com/embed/xU4GdHLUHwU" frameborder="0" allowfullscreen></iframe>

Backwards Masking
06-14-2011, 09:10 PM
I have an idea of where the 2.3 million lost on Sept. 10th, 2001 went. But I'd be a kook if I spoke up about it.