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POLITICS: Occupation Authority Loses Billions

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posted on Feb, 1 2005 @ 02:49 PM
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A scathing report released by the inspector general for Iraq reconstruction says that the Occupation Authority "was unable to keep track" of nearly $9 billion it transferred to Iraqi government ministries from October 2003 to June 2004. According to the report there was a huge lack of oversight and control. At one point it was recommended that payrolls be verified before payments, but the CPA decided it would be better to overpay than risk inciting violence.
 



www.news24.com
The US occupation authority in Iraq was unable to keep track of nearly $9bn it transferred to government ministries, which lacked financial controls, security, communications and adequate staff, an inspector general has found.

The US officials relied on Iraqi audit agencies to account for the funds but those offices were not even functioning when the funds were transferred between October 2003 and June 2004, according to an audit by a special US inspector general.

The findings were released on Sunday by Stuart Bowen, special inspector general for Iraq reconstruction.


Please visit the link provided for the complete story.


L. Paul Bremer, the former head of the Occupation Authority disputes the claims in this report:


the report had "many misconceptions and inaccuracies," and lacked professional judgment...

..."assumes that western-style budgeting and accounting procedures could be immediately and fully implemented in the midst of a war".


One would think that it would be hard to keep track of money with infrastructure in shambles, but $9 billion is a bit much to "misplace". Our tax money at work, huh?

Former Presidential Candidate and Congressman from Ohio, Dennis Kucinich, is demanding a thorough investigation into the matter:


Common Dreams
"It is simply not believable that the Administration lost track of every dime of the funds. The Administration willfully turned a blind eye and allowed the misuse of funds, and now must be held accountable,"


Related News Links:
www.islamonline.org
www.foxnews.com
www.hindustantimes.com

[edit on (2/1/0505 by PistolPete]




posted on Feb, 1 2005 @ 02:58 PM
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Apparently the intent is to blame the corrupt Iraqis and compare the situation to the "oil for food scandal."

More of the same irresponsibility and shifting of blame.



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posted on Feb, 1 2005 @ 03:02 PM
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Pete, I beat ya to it by s few days:

www.abovetopsecret.com...



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