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Fat cat profit from Iraq war
When they attacked Daschel on his tax problem, GOP never talked a bit of how much money they embezzled from Iraq. That may be the reason why GOP is so fond of "war on terror". Because they always profit from a conflict, from fat budget of defense to profitable contract.
Ordinary people pay tax. Selected politicians vote for war. Fat cats make profit. That's US politics.
Quote, "A 'fraud' bigger than Madoff
Senior US soldiers investigated over missing Iraq reconstruction billions
By Patrick Cockburn in Sulaimaniyah, Northern Iraq
In what could turn out to be the greatest fraud in US history, American authorities have started to investigate the alleged role of senior military officers in the misuse of $125bn (£88bn) in a US -directed effort to reconstruct Iraq after the fall of Saddam Hussein.
The exact sum missing may never be clear, but a report by the US Special Inspector General for Iraq Reconstruction (SIGIR) suggests it may exceed $50bn, making it an even bigger theft than Bernard Madoff's notorious Ponzi scheme.
"I believe the real looting of Iraq after the invasion was by US officials and contractors, and not by people from the slums of Baghdad," said one US businessman active in Iraq since 2003. ....
The end of the Bush administration which launched the war may give fresh impetus to investigations into frauds in which tens of billions of dollars were spent on reconstruction with little being built that could be used. In the early days of the occupation, well-connected Republicans were awarded jobs in Iraq, regardless of experience. A 24-year-old from a Republican family was put in charge of the Baghdad stock exchange which had to close down because he allegedly forgot to renew the lease on its building......
Often sums paid out in cash were never recorded. In one case, an American soldier put in charge of reviving Iraqi boxing gambled away all the money but he could not be prosecuted because, although the money was certainly gone, nobody had recorded if it was $20,000 or $60,000.
http://www.independent.co.uk/news/world/americas/a-fraud-bigger-than-madoff-1622987.html
When they attacked Daschel on his tax problem, GOP never talked a bit of how much money they embezzled from Iraq. That may be the reason why GOP is so fond of "war on terror". Because they always profit from a conflict, from fat budget of defense to profitable contract.
Ordinary people pay tax. Selected politicians vote for war. Fat cats make profit. That's US politics.
Quote, "A 'fraud' bigger than Madoff
Senior US soldiers investigated over missing Iraq reconstruction billions
By Patrick Cockburn in Sulaimaniyah, Northern Iraq
In what could turn out to be the greatest fraud in US history, American authorities have started to investigate the alleged role of senior military officers in the misuse of $125bn (£88bn) in a US -directed effort to reconstruct Iraq after the fall of Saddam Hussein.
The exact sum missing may never be clear, but a report by the US Special Inspector General for Iraq Reconstruction (SIGIR) suggests it may exceed $50bn, making it an even bigger theft than Bernard Madoff's notorious Ponzi scheme.
"I believe the real looting of Iraq after the invasion was by US officials and contractors, and not by people from the slums of Baghdad," said one US businessman active in Iraq since 2003. ....
The end of the Bush administration which launched the war may give fresh impetus to investigations into frauds in which tens of billions of dollars were spent on reconstruction with little being built that could be used. In the early days of the occupation, well-connected Republicans were awarded jobs in Iraq, regardless of experience. A 24-year-old from a Republican family was put in charge of the Baghdad stock exchange which had to close down because he allegedly forgot to renew the lease on its building......
Often sums paid out in cash were never recorded. In one case, an American soldier put in charge of reviving Iraqi boxing gambled away all the money but he could not be prosecuted because, although the money was certainly gone, nobody had recorded if it was $20,000 or $60,000.
http://www.independent.co.uk/news/world/americas/a-fraud-bigger-than-madoff-1622987.html