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Thread: US 'fails to account' for Iraq reconstruction billions

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    US 'fails to account' for Iraq reconstruction billions

    BBC News - US 'fails to account' for Iraq reconstruction billions

    A US federal watchdog has criticised the US military for failing to account properly for billions of dollars it received to help rebuild Iraq.

    The Special Inspector General for Iraq Reconstruction says the US Department of Defence is unable to account properly for 96% of the money.
    And this is not the first time we hear of miss-management.. do they never learn?

    Considering the billions.. well trillions the US has spent on getting rid of Saddam.. the 6 to 12 billion he skimmed off the oil for food program seem a freaking bargain now.
    PeteEU

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    Audit: US can't account for $8.7B in Iraqi funds

    Audit: US can't account for $8.7B in Iraqi funds - Boston.com
    The U.S. Defense Department is unable to properly account for over 95 percent of $9.1 billion in Iraqi oil money tapped by the U.S. for rebuilding the war ravaged nation, according to an audit released Tuesday.
    ... The audit found that shoddy record keeping by the Defense Department left the Pentagon unable to fully account for $8.7 billion it withdrew between 2004 and 2007 from a special fund set up by the U.N. Security Council. Of that amount, Pentagon "could not provide documentation to substantiate how it spent $2.6 billion."
    ... The audit cited a number of factors that contributed to the inability to account for most of the money withdrawn by the Pentagon from the Development Fund for Iraq. It said most of the Defense Department organizations that received DFI money failed to set up Treasury Department accounts, as required.

    In addition, it said no Defense Department organization was designated as the main body to oversee how the funds were accounted for or spent.

    "The breakdown in controls left the funds vulnerable to inappropriate uses and undetected loss," the report said. ...
    [bold emphasis added by bubba]

    no one was in charge. which means no one is responsible or accountable for this fundamental responsibility to monitor the use of iraqi money
    the report cites there was no evidence of fraud. that is comforting, [insert sarcasm icon] since they have no clue about how the money was used, whether it was stolen or not
    anybody really wonder what happened when those who were authorized access to these monies realized that there was no oversight and no accounting trail
    we are negotiating about dividing a pizza and in the meantime israel is eating it
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    re: US 'fails to account' for Iraq reconstruction billions

    Quote Originally Posted by PeteEU View Post
    BBC News - US 'fails to account' for Iraq reconstruction billions



    And this is not the first time we hear of miss-management.. do they never learn?

    Considering the billions.. well trillions the US has spent on getting rid of Saddam.. the 6 to 12 billion he skimmed off the oil for food program seem a freaking bargain now.
    No - the government never learns.

    There's misplaced money all over, in every little nook and cranny - I bet you they're stuffing it in their seat cushions Might even be padding a bra or two!
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    re: US 'fails to account' for Iraq reconstruction billions

    Quote Originally Posted by Aunt Spiker View Post
    No - the government never learns.

    There's misplaced money all over, in every little nook and cranny - I bet you they're stuffing it in their seat cushions Might even be padding a bra or two!
    Considering a lot of it if not most was handled by private contractors most likely, then well hehe.
    PeteEU

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    re: US 'fails to account' for Iraq reconstruction billions

    Quote Originally Posted by PeteEU View Post
    Considering a lot of it if not most was handled by private contractors most likely, then well hehe.
    Doesn't seem to matter, really - directly by the Treasurer or by proxy . . . *wooot* <--- see, she's a saucy lass tossing monetti.
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    re: US 'fails to account' for Iraq reconstruction billions

    Ya know, call me crazy, but I would think the Tea Partiers would be fuming over this. I bet on Fox News, it's wall-to-wall coverage.
    No men are anywhere, and Im allowed to go in, because Im the owner of the pageant and therefore Im inspecting it, Trump said... Is everyone OK? You know, theyre standing there with no clothes. Is everybody OK? And you see these incredible looking women, and so I sort of get away with things like that.

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    re: US 'fails to account' for Iraq reconstruction billions

    Quote Originally Posted by PeteEU View Post
    BBC News - US &#039;fails to account&#039; for Iraq reconstruction billions



    And this is not the first time we hear of miss-management.. do they never learn?

    Considering the billions.. well trillions the US has spent on getting rid of Saddam.. the 6 to 12 billion he skimmed off the oil for food program seem a freaking bargain now.
    What is new... the government cannot manage its finances...

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    re: US 'fails to account' for Iraq reconstruction billions

    That's actually a rather small amount when you consider the amount that has changed hands or bank accounts in the whole thing. You could call the GAO right now and, on the record, they'd tell you this is a travesty and that all the debits must equal the credits, while trying to divert you with beancounter-speak.

    Off the record, they'd probably say "oh that's all? whew...". Believe it or not, the U.S. government doesn't have to answer to too many people. I bet you just fell off your seat reading that statement.

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    re: US 'fails to account' for Iraq reconstruction billions

    Quote Originally Posted by Middleground View Post
    Ya know, call me crazy, but I would think the Tea Partiers would be fuming over this. I bet on Fox News, it's wall-to-wall coverage.
    The missing unacounted for cash or the story of the missing unaccounted for cash?

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    re: US 'fails to account' for Iraq reconstruction billions

    Quote Originally Posted by PeteEU View Post
    BBC News - US &#039;fails to account&#039; for Iraq reconstruction billions



    And this is not the first time we hear of miss-management.. do they never learn?

    Considering the billions.. well trillions the US has spent on getting rid of Saddam.. the 6 to 12 billion he skimmed off the oil for food program seem a freaking bargain now.
    And, the Libbos want the government to run healthcare in this country?
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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