Sunday, February 11, 2007

How Can Someone Lose $8.8 Billion Dollars?

How the hell can former Iraq governor Paul Bremer sit in front of a Congressional Committee and with a straight face blame poor accounting for his inability to account for over 2/3s of the cash-money shipped over to Iraq to help rebuild the country...

The 15-month proconsulship of the Coalition Provisional Authority disbursed nearly $20 billion, two-thirds of it in cash, most of which came from the Development Fund for Iraq that had replaced the UN Oil for Food Program and from frozen and seized Iraqi assets. Most of the money was flown into Iraq on C-130s in huge plastic shrink-wrapped pallets holding 40 “cashpaks,” each cashpak having $1.6 million in $100 bills. Twelve billion dollars moved that way between May 2003 and June 2004, drawn from accounts administered by the New York Federal Reserve Bank. The $100 bills weighed an estimated 363 tons.

and those are the OLD links...

I really only caught the regurgitation of this story because Bremer was once again called before the House last week and the testimony got grilled by the Daily Show.

But have no fear my fellow Americans, Congressman Henry Waxman promises a two-year inquiry into how the money is being squandered....just remember to wake us all up.

You know, I would like to know something: how is it that the government can shrug its shoulders and not account for the expenditure of BILLIONS (not all U.S. tax-payer money, mind you, but nonetheless billions of dollars) in Iraq, but if I want to take a $10/week tax deduction for money given at church I am not required to have a receipt????? Some motherfucker explain that one to me. Please.

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