Former Bush official questions Waxman criticizing admin for sending 360 tons of cash into a war zone

[sabra]

http://www.iht.com/articles/2007/02/26/opinion/edtaylor.php

Dollars to dinars: We did get the money to Iraq
John B. Taylor

<snip>

As the committee's chairman, Henry Waxman of California, put it in his opening statement, "Who in their right mind would send 360 tons of cash into a war zone?" That attracted wide attention, feeding antiwar sentiment and providing material for comedians.

A careful investigation of the facts behind the currency shipment paints a far different picture.

...

Contrary to the criticism that such currency shipments were ill-advised or poorly-monitored , this financial plan was carried out with precision and was a complete success.

...

To carry out the first stage of the plan, President Bush issued an executive order on March 20, 2003, instructing United States banks to relinquish Saddam's frozen dollars. From that money, 237.3 tons in $1, $5, $10 and $20 bills were sent to Iraq.

During April, U.S. Treasury officials in Baghdad worked with the military and the Iraqi Finance Ministry officials — who had painstakingly kept the payroll records despite the looting of the ministry — to make sure the right people were paid.

The Iraqis supplied extensive documentation of each recipient of a pension or paycheck. Treasury officials who watched over the payment process in Baghdad in those first few weeks reported a culture of good record keeping.

...


John B. Taylor, under secretary of the U.S. Treasury from 2001 to 2005, is the author of "Global Financial Warriors."

[cspanlovr]

1. I'm sure they kept very good records of it...

after they finished playing football with it.

[babylonsister]

2. So this transfer happened under Taylor's watch; no wonder he's trying

to defend it. But where DID the missing money go, despite his assurances that Iraq had a culture of good record keeping. That in and of itself is suspect given the conditions in Iraq at that time.

[meegbear]

3. If, as he states ...

The Iraqis supplied extensive documentation of each recipient of a pension or paycheck.

then there wouldn't be an investigation, n'est-ce pas?

[VP505]

4. So with nearly

everything else done wrong in Iraq, this clown wants us to believe that every i was dotted, every t got crossed and no mistake were made with this money transfer??? Ya Right, and if he believes that, I have a bridge he might like.

[sinkingfeeling]

5. Then where's the $8 to 12 billion that's missing, Mr. Taylor?