$9B Goes Missing In Iraq [View All]

Huge Sum Disappears Without A Trace
Helen Thomas, Hearst White House columnist

POSTED: 12:41 pm EST February 24, 2005

Profiteering from the Iraq war is not a surprise, especially in light of the Bush administration's pandering to the military-industrial complex.

But some Democratic lawmakers are concerned that profiteering may have achieved stratospheric dimensions in the case of the $9 billion that is missing from the sale of Iraqi oil. This money was to have been used for humanitarian aid and reconstruction for Iraq.

It seems no one is watching the store. The fund was transferred to Iraqi government ministries, which lacked the proper financial controls, security and staff to keep close tabs on the money flow.

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Rep. Dennis Kucinich, D-Ohio, has led the move to seek accountability for the missing funds after Stuart W. Bowen, the special inspector general appointed by the U.S. occupation authority, reported the disappearance last Jan. 30.

The audit spurred the Democratic Policy Committee -- which serves as a clearinghouse for all Democratic offices on Capitol Hill -- to hold hearings Feb. 14 on the management by the Coalition Provisional Authority of billions in Iraqi oil revenue.

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http://www.thebostonchannel.com/helenthomas/4228758/detail.html