February 17, 2009 /

Bigger Than Madoff

Finally we are starting to see some accountability from the wasted adventure called Iraq: In what could turn out to be the greatest fraud in US history, American authorities have started to investigate the alleged role of senior military officers in the misuse of $125bn (£88bn) in a US -directed effort to reconstruct Iraq after […]

Finally we are starting to see some accountability from the wasted adventure called Iraq:

In what could turn out to be the greatest fraud in US history, American authorities have started to investigate the alleged role of senior military officers in the misuse of $125bn (£88bn) in a US -directed effort to reconstruct Iraq after the fall of Saddam Hussein. The exact sum missing may never be clear, but a report by the US Special Inspector General for Iraq Reconstruction (SIGIR) suggests it may exceed $50bn, making it an even bigger theft than Bernard Madoff’s notorious Ponzi scheme.

Remember – most of this happened while Republicans controlled Congress. Democrats weren’t allowed to mention this stuff for fear of being called Hitler, unpatriotic or some other name. That doesn’t excuse the Democrats though for not pushing forward with investigations once they took control of Congress. I just don’t know how far it would have gone with Bush in office. So perhaps its time to look at new laws defining what the President can and can’t do even more now. We need an oversight branch of our military and that branch should be Congress – not the same branch that leads it.

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