Thursday, February 8, 2007

$12B - Whatever

From the Guardian: How the US sent $12bn in cash to Iraq. And watched it vanish.

Cash distributions from the back of pickup trucks. Paying contractors $2M in cash in duffel bags. Hundreds of thousands just stolen. $500M for "TBD." Most lost to corruption and waste. This is awesome. But no worries - this was Iraqi money.

Money quote (pun intended):
Bremer's financial adviser, retired Admiral David Oliver, is even more direct. The memorandum quotes an interview with the BBC World Service. Asked what had happened to the $8.8bn he replied: "I have no idea. I can't tell you whether or not the money went to the right things or didn't - nor do I actually think it's important."

Q: "But the fact is billions of dollars have disappeared without trace."

Oliver: "Of their money. Billions of dollars of their money, yeah I understand. I'm saying what difference does it make?"

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