Feb. 26, 2005

Helen Thomas - $9B Goes Missing In Iraq

$9B Goes Missing In Iraq
Huge Sum Disappears Without A Trace
Helen Thomas, Hearst White House columnist

POSTED: 12:41 pm EST February 24, 2005

Profiteering from the Iraq war is not a surprise, especially in light of the Bush administration's pandering to the military-industrial complex.

But some Democratic lawmakers are concerned that profiteering may have achieved stratospheric dimensions in the case of the $9 billion that is missing from the sale of Iraqi oil. This money was to have been used for humanitarian aid and reconstruction for Iraq.

It seems no one is watching the store. The fund was transferred to Iraqi government ministries, which lacked the proper financial controls, security and staff to keep close tabs on the money flow.

Nevertheless, the Democrats would like to prod the Bush administration to show its concern over the loss. You can do a lot with $9 billion, but it's only a drop in the bucket in terms of spending in Iraq. The war there is costing the United States more than $50 billion a year."

Continued........

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