Skip to comments.Missing Iraq $100 million: Pentagon Unable to Account for Missing Iraqi Millions
Posted on 01/30/2012 2:40:50 PM PST by opentalk
The Pentagon doesnt know what happened to more than $100 million in cash held at Saddam Husseins palace in Baghdad during the Iraq war, according to a new report by the Special Inspector General for Iraq Reconstruction.
Whats more, the Pentagon cant find documents to explain what it spent as much as $1.7 billion on from funds held on behalf of the Iraqi government by the New York Federal Reserve, the report says.
The missing records raise new questions about how the US government handled billions of dollars in Iraqi funds during the war.
The new report, the latest in a multi-year investigation by the inspector general into missing money in Iraq,
(Excerpt) Read more at cnbc.com ...
Might want to check Zero’s campaign accounts.
it was in a vault in Arifjan the last time I saw it....
No doubt there are missing funds, but the SIGIR bunch couldn’t find their butts with both hands. They were/are on a political mission not a fiscal one.
It was donated to the Brotherhood’s election in Egypt.
Ineptocracy (in-ep-toc'-ra-cy) - a system of government where the least capable to lead are elected by the least capable of producing, whereby the members of society least likely to sustain themselves exist on goods and services paid for by the confiscated wealth of a diminishing number of producers.
I have a better word: Smart.
When nobody is ever held accountable, it’s just plain smart to grab with both hands when the opportunity presents itself.
Maybe they invested it in MF Global.
The pockets of democRats and other assorted thieves!
Don’t know about the cash but I think I might know what happened to:
“Whats more, the Pentagon cant find documents to explain what it spent as much as $1.7 billion on from funds held on behalf of the Iraqi government by the New York Federal Reserve, the report says.”
Because the reconstruction project documentation was stored electronically and in 2006 the storage device failed with complete data loss.
In 2006 a Tera Drive (name, spelling? it was a POS unapproved device) went bad in the Al Faw palace, Camp Victory, Baghdad. A ‘micro project’ IT contractor was in charge of supporting the drive and it was brought to my attention as last resort to help him. Seems after a power failure the NAS locked up and instead of pulling the 4 x 250GB drives and mounting them in another controller as RAID 0 -which was the Tera Drive’s configuration, he pushed the device’s reset. Unfortunately the default config was RAID 1 so it re-partitioned it to 2 500 GB arrays. I asked him what was on it and he said it stored all the data for the reconstruction projects. I said “really, how much is that?” I.e., “how big of an impact is this loss going to have? He said the projects were a few billion dollars worth. I asked him where his backups were, he said there were none.
I told him that’s why you’re supposed to store stuff on the network vice some one-off POS solution.
No fraud just incompetence.
It’s fascinating to still be seeing tie-ins with the work I did there years afterward. Of course it’s a hit piece and they’ll be pecking at OIF for forever though. They gotta justify cutting the DoD budget.
Correction: 2 x 250 GB RAID 1 arrays.
...or the Obama Vacation Fund.
It's no coincidence that all this was going on after the Federal Reserve had stopped reporting a key money supply measure (M3).
I knew this likely meant a serious decline in the value of the U.S. dollar, and it wasn't long after that when we saw prices of commodities like oil and gold hitting record highs.
Audit George Clooney’s accounts, silly!
kak·is·toc·ra·cy (kk-stkr-s, käk-)
n. pl. kak·is·toc·ra·cies
Government by the least qualified or most unprincipled citizens.
[Greek kakistos, worst, superlative of kakos, bad; see caco- + -cracy.]
Have they looked under the sofa cushions?