Rampant corruption could wreck postwar Iraq, Oil revenues 'vanish into...

[G_j]

http://www.dailystar.com.lb/article.asp?edition_id=10&categ_id=3&article_id=9440

Rampant corruption could wreck postwar Iraq
Oil revenues 'vanish into pockets of western executives'

A survey reveals that the payment of kickbacks to secure contracts has blighted the industry in transition economies


Compiled by Daily Star staff
Thursday, October 21, 2004


The postwar reconstruction of Iraq could be ruined by rampant corruption, an international survey said on Wednesday.

The survey, an annual list of countries held to be the most corrupt in their business dealings, said the future of Iraq depended on transparency in the oil sector.

"Without strict anti-bribery measures, the reconstruction of Iraq will be wrecked by a wasteful diversion of resources to corrupt elites," said Peter Eigen, chairman of the Transparency International watchdog which produced the survey. Transparency in procurement contracts was essential, he added.

The survey found that Iraq scored 2.1 out of a scale ranging from 10, highly clean, to 0, highly corrupt.

..more..

[denverbill]

1. "wasteful diversion of resources to corrupt elites"?

Pfft. Around these parts, we call it 'cost plus' contracts. If we don't allow wasteful diversion of resources to corrupt elites, there's no profit margin for Halliburton and Dick Cheney being VP ain't paying off like it was supposed to.

[Bandit]

2. Monkey see...Monkey do

They see what Halliburton and other American firms are doing and try and do the same thing. They will get away with it as well and Americans will continue to suck hind tit.

[mbperrin]

3. COULD wreck?

Thank God everything's going so well now.....