IN Search of Rebuilding Billions

The Washington Times ^ | 1/21/06 | Rowan Scarborough

[jamese777]

In search of rebuilding billions By Rowan Scarborough THE WASHINGTON TIMES January 20, 2006

Finding out what happened to Iraq's $37 billion in oil-financed reconstruction funds -- its stacks of plastic-wrapped hundred-dollar bills popping up all over the country like play money -- has taken investigators down many paths, including one to the Defense Ministry office of Ziyad al Qattan. Questions about what happened to the fund, once held by the United Nations and turned over to the Bush administration, are part of a broader story of how the United States has spent billions in American and Iraqi money after Saddam Hussein was ousted in April 2003. So far, the United States has spent $226 billion to wage war in Iraq, and the reconstruction costs have proven to be another expensive challenge. Along with the $37 billion fund, another $24 billion from U.S. taxpayers has been ordered for Iraqi reconstruction. Together with $4 billion pledged by other countries, more than $60 billion is pegged for reconstruction costs alone. The problem is U.S. and Iraqi officials aren't sure just how much money has been stolen or misspent. The situation is crucial for Iraq: The World Bank has estimated the country needs another $40 billion in reconstruction money and Iraq can ill afford massive corruption which would jeopardize future funding. A confidential report by Iraq's Supreme Board of Audit provides a peek at accounting problems, which date back to May 2003, when the Bush administration created the Coalition Provisional Authority (CPA) and made L. Paul Bremer Iraq's first post-Saddam leader. Mr. Bremer's office received a huge infusion of funds at that time and began spending it on rebuilding efforts at a furious pace -- in cash.

[Froufrou]

"The situation is crucial for Iraq: The World Bank has estimated the country needs another $40 billion in reconstruction money and Iraq can ill afford massive corruption which would jeopardize future funding.
A confidential report by Iraq's Supreme Board of Audit provides a peek at accounting problems, which date back to May 2003, when the Bush administration created the Coalition Provisional Authority (CPA) and made L. Paul Bremer Iraq's first post-Saddam leader. Mr. Bremer's office received a huge infusion of funds at that time and began spending it on rebuilding efforts at a furious pace -- in cash."

What kind of nemrod doesn't keep a paper trail? Honestly, does the man have no brain? No receipts? What a bad situation this will become!

[Mind-numbed Robot]

Read an article awhile back by a journalists who was soon after kidnapped and murdered by the terrorist in Iraq. He was observing the cash distribution by a US army captain to various Iraqis at a distribution center. The money was supposedly for contracts to do certain things. The reporter asked the captain how he knew that the men he was handing out thousands of dollars to were who they said rather than terrorists and how did he know they were able to perform the contracts they were being paid for. The captain rather nonchalantly said the he guessed he didn't really know but did not seem concerned about it. Asked what if he were giving money to the enemy, he just shrugged. He was just doing his job he said.

As we have seen from some of those who have returned, mostly clerks, etc., not all our military personnel are the brave patriots we are so proud of.