How has the US been spending other people's billions? (Asked by Waxman)

[papau]

Does it matter that Bush has been the largest single recipient of US oil and gas industry campaign contributions since 1998 - $1,724,579?



http://www.guardian.co.uk/usa/story/0,12271,1264765,00.html

How has the US been spending other people's billions?

Simon Tisdall
Tuesday July 20, 2004
The Guardian

<snip>In particular, Mr Waxman is curious about "the administration's last-minute 'draw-down' of billions of dollars from the DFI for unspecified expenses" prior to last month's transfer of sovereignty. "For example, $1bn was withdrawn from the DFI during the last month of the CPA's existence for unspecified 'security' purposes." <snip>

He is concerned about apparent attempts by the then CPA chief, Paul Bremer, to mandate and direct the spending of a further $4.6bn in Iraqi oil funds after the handover.

He is also exercised by the results of a belated audit of the DFI's accounts that concluded they were "open to fraudulent acts" and lacked "transparency". In all, the CPA earmarked more than $6bn of Iraqi funds in the last two months of its existence.

He wants to know whether CPA officials obstructed the auditors, KPMG, who were employed by the UN-created International Advisory and Monitoring Board (IAMB).

And he also asks why the White House has "failed to comply with numerous IAMB requests payments of approximately $1.5bn in DFI funds to Halliburton" - the Texas-based oil services company formerly headed by the vice-president, Dick Cheney. <snip>

[leesa]

1. Of course they are! BushCo and his rich friends have already looted

the US treasury, where else are they going to get the money?

[SpiralHawk]

2. Free Clue to Kerry-Edwards campaign

Nail their corrupt butts on this. People are waking up. They want someone to stand up and protect their pocket books.

Now is the time.

"In times of universal deceit, telling the truth is truly a revolutionary act."
-George Orwell

[Laughing Mirror]

3. Only 2% of the $18.4 billiion promised was actually spent

and "despite all the rhetoric about building a new Iraq, not a cent of America's own money had been spent on construction, healthcare, sanitation and water projects as of last month.

What wasn't siphoned off into Halliburton and friends must have found it's way into the Bush-Cheney warchest, among other secure places.

Is this getting much coverage in the domestic press? Or is just one of those stories that people shake their head at if they hear it and pass on numbly to the next scandal?

[stickdog]

4. Good question. (nt)

[struggle4progress]

5. kick

:kick:

[mountainvue]

6. And people thinking Sandy Berger keeping his origianl drafts

is a scandal? Come on! This stinks to high heaven.

[tabasco]

7. WAXMAN is a real-life superhero.

This guy is on the ball and on the case! I love you man!

:loveya: