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Originally posted by Erasurehead
What about the news about the two Japanese men caught with $134B worth of US bonds, they were never charged with anything. There was never a follow up to the story about what happened to them and no verification that the bonds were fake. There was a total media blackout.
www.asianews.it...
WASHINGTON (CNN) -- Nearly $9 billion of money spent on Iraqi reconstruction is unaccounted for because of inefficiencies and bad management, according to a watchdog report published Sunday.
An inspector general's report said the U.S.-led administration that ran Iraq until June 2004 is unable to account for the funds.
"Severe inefficiencies and poor management" by the Coalition Provisional Authority has left auditors with no guarantee the money was properly used," the report said.
"The CPA did not establish or implement sufficient managerial, financial and contractual controls to ensure that [Development Fund for Iraq] funds were used in a transparent manner," said Stuart W. Bowen Jr., director of the Office of the Special Inspector General for Iraq Reconstruction.
The $8.8 billion was reported to have been spent on salaries, operating and capital expenditures, and reconstruction projects between October 2003 and June 2004, Bowen's report concluded.