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'US military lost Iraq rebuilding money'

http://www.presstv.com/detail.aspx?id=136420&sectionid=3510203

Billions of dollars of reconstruction funds have gone missing in Iraq with the US Defense Department saying it has no record of how the money was spent.

A newly released audit by the Special Inspector General for Iraq Reconstruction suggests that the Pentagon is unable to properly account for USD 8.7 billion out of USD 9.1 billion in Iraqi oil revenue entrusted to it between 2004 and 2007.

Stuart W. Bowen Jr., the special inspector general for Iraq reconstruction blames poor record-keeping and lax oversight for the loss.

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http://www.presstv.com/detail.aspx?id=136420&sectionid=3510203




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SteveMT's picture

Remember war on waste: Rumsfeld can't account for $2.3T!!!!!

[These jokes just keep on coming, and none of them are funny.]

LOS ANGELES, Jan. 29, 2002
The War On Waste
Defense Department Cannot Account For 25% Of Funds — $2.3 Trillion

(CBS) On Sept. 10, Secretary of Defense Donald Rumsfeld declared war. Not on foreign terrorists, "the adversary's closer to home. It's the Pentagon bureaucracy," he said.

He said money wasted by the military poses a serious threat.

"In fact, it could be said it's a matter of life and death," he said.

Rumsfeld promised change but the next day – Sept. 11-- the world changed and in the rush to fund the war on terrorism, the war on waste seems to have been forgotten.

Just last week President Bush announced, "my 2003 budget calls for more than $48 billion in new defense spending."

More money for the Pentagon, CBS News Correspondent Vince Gonzales reports, while its own auditors admit the military cannot account for 25 percent of what it spends.

"According to some estimates we cannot track $2.3 trillion in transactions," Rumsfeld admitted.

$2.3 trillion — that's $8,000 for every man, woman and child in America. To understand how the Pentagon can lose track of trillions, consider the case of one military accountant who tried to find out what happened to a mere $300 million.

"We know it's gone. But we don't know what they spent it on," said Jim Minnery, Defense Finance and Accounting Service.

http://www.cbsnews.com/stories/2002/01/29/eveningnews/main32...

yep

Thank you for bringing this up
and for others please investigate here some links:
http://www.libertypoet.com/911mix/

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

So this means the rebuilding will come to a screeching halt...

...right?

Anybody want to be that it makes no difference?

Jack

bump

Sickening that all those man hours and labor wasted because of the "defense" of israel. Just add the money stolen to "defend" israel and add that to this tab and you just might have a little vomit in your mouth.

But on the other hand, this "money" is nothing compared to the "money" that is "wasted" day after day, year after year.

The U.S.'s present thinking is hundreds of billions or even trillions "wasted", is no "big deal". Everything will be o.k.

Does 8 billion sound to you like it even matters anymore? 8 billion. That's beer and smokes to this unbelievably "sick" system.

The system is "wiping their ass" with everyone's time and labor.

"None are more hopelessly enslaved than those who falsely believe they are free." Johann Wolfgang von Goethe

Lamb of God - As the Palaces Burn
http://youtu.be/eWVrdFrpXHE

well said

makes me think how much beer that would buy (*_*)

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

umm.. wow.

umm.. wow.

The slogan press on has solved and always will solve the problems of the human race. No person was ever honored for what he received. Honor has been the reward for what he gave.

- Calvin Coolidge

It ain't lost, brother!

Somebody knows exactly where it went, But, who cares anymore? They just appropriated another $7B for Pakistan to rebuild their infrastructure and put people to work. For a country that is supposedly broke, we sure can fling some bling around the world! Wouldn't you like to be on the "A" list of inside contractors lined up for the spoils? All you have to do, is be sure you reply with heavy, heavy campaign contributions to the right people. Disgusting.

alan laney

well said

on my website I have a link to debt clock:
http://www.libertypoet.com/
it is at the bottom
look at the different numbers between the official and unofficial amount.

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

Many of us knew this was happening

The waste was done deliberately, according to what I have seen and read. Soldiers come back reporting about crates of money being left around without supervision...Humvees burned because they lacked one part, rather than fixed.

It shows the crazy lengths the Fed will go to, to keep our nation indebted to it. And to keep Iraq on its knees, for the sake of the Fed's oil magnate friends. We can't REALLY have a stable Iraq, can we? The Iraqis might get in the way of The Agenda.

well said

reminds me of George Carlin:
http://www.libertypoet.com/freedomwatch/owners/

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

SteveMT's picture

They can't even keep tract of the amount lost! It was $12B....

back in 2007. A few extra billion must have magically appeared? Perhaps they recovered some of this blood-stained money from the pockets of all of the dead. Sickening!

How the US sent $12bn in cash to Iraq. And watched it vanish
Special flights brought in tonnes of banknotes which disappeared into the war zone

David Pallister
Thursday 8 February 2007

The US flew nearly $12bn in shrink-wrapped $100 bills into Iraq, then distributed the cash with no proper control over who was receiving it and how it was being spent.

The staggering scale of the biggest transfer of cash in the history of the Federal Reserve has been graphically laid bare by a US congressional committee.

In the year after the invasion of Iraq in 2003 nearly 281 million notes, weighing 363 tonnes, were sent from New York to Baghdad for disbursement to Iraqi ministries and US contractors. Using C-130 planes, the deliveries took place once or twice a month with the biggest of $2,401,600,000 on June 22 2004, six days before the handover.

Details of the shipments have emerged in a memorandum prepared for the meeting of the House committee on oversight and government reform which is examining Iraqi reconstruction. Its chairman, Henry Waxman, a fierce critic of the war, said the way the cash had been handled was mind-boggling. "The numbers are so large that it doesn't seem possible that they're true. Who in their right mind would send 363 tonnes of cash into a war zone?"

http://www.guardian.co.uk/world/2007/feb/08/usa.iraq1

Thank you for posting that Steve

The DP should never forget the same b.s. that has gone on in the past. "Everyone" forgets, but the DP should never forget.

"None are more hopelessly enslaved than those who falsely believe they are free." Johann Wolfgang von Goethe

Lamb of God - As the Palaces Burn
http://youtu.be/eWVrdFrpXHE

Thanks Steve

...talking about a black hole.

I wish every neo-con reads this article with their morning coffee.

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

Shocker

Glad I stopped giving them my money years ago..

"I have found that being rich is not about having the most but about needing the least"

. . .

?

it's hard to be awake; it's easier to dream--