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cutting corners during Wartime

Published:

This is from News of the Weird:

To fund a new Iraqi economy and government after the March 2003 invasion, the U.S. Federal Reserve shipped 484 pallets of shirnk-wrapped U.S. currency weighing 363 tons, totaling more than $4 billion, and, according to a House of Representatives committee staff report in February, most of the cash was either haphazardly disbursed or distributed to proper channels but with little follow-up tracking.
By March, 2007,The Times of London found bank records revealing, for instance, that to unremarkable Baghdad small-business men (appointed to the defesne ministry) eventually deposited more than $1 billion in private accounts in Jordan, and that U.S. efforts to buy state-of-the-art equipment for the Iraqi army were seriously undermined because middlemen purchased only cheap, obsolete Polish munitions and pocketed the savings.

Chuck Shepherd
News of the Weird

 

Entry #12

Comments

1.
justxploringComment by justxploring - April 27, 2007, 5:34 pm
They actually ship cash? I thought everything was done by wire transfer and then converted into the country's currency.
2.
Coin TossComment by Coin Toss - April 27, 2007, 7:23 pm
No, not in thse amiounts, and they want U.S. currency. I guees they were worried that when Saddam fell their currency would become worthless.
3.
jarasanComment by jarasan - April 27, 2007, 7:31 pm
Here it is

http://www.cbsnews.com/stories/2007/03/06/opinion/main2538972.shtml

Dumasses

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