Billions of dollars stolen….
6.23.2011 Leave a comment
The New York Fed is refusing to tell investigators how many billions of dollars it shipped to Iraq during the early days of the US invasion there, the special inspector general for Iraq reconstruction told CNBC Tuesday.
The Fed’s lack of disclosure is making it difficult for the inspector general to follow the paper trail of billions of dollars that went missing in the chaotic rush to finance the Iraq occupation, and to determine how much of that money was stolen.
The New York Fed will not reveal details, the inspector general said, because the money initially came from an account at the Fed that was held on behalf of the people of Iraq and financed by cash from the Oil-for-Food program. Without authorization from the account holder, the Iraqi government itself, the inspector general’s office was told it can’t receive information about the account.
The problem is that critics of the Iraqi government believe highly placed officials there are among the people who may have made off with the money in the first place.
- N.Y. Fed mum on missing Iraq billions (politico.com)
- Iraq Hunting $17 Billion Missing After U.S. Invasion (stevebeckow.com)
- $6.6 billion of US taxpayer money missing in Iraq (americablog.com)
- Iraq debacle gets worse: $6.6 billion has vanished (dailykos.com)
- U.S. Defense officials still cannot say what happened to $6.6 Billion (politicore.wordpress.com)
- Billions in cash airlift to Iraq possibly stolen, auditors say (seattletimes.nwsource.com)
- Iraq closes file oil for food program with international companies (currencynewshound.wordpress.com)
- Pentagon Lost or Steals $6.6 Billion & $2.3 Trillion ! (2012patriot.wordpress.com)
- Missing Iraqi War Cash May Be Biggest Heist in History [Crime] (gawker.com)
- Feds hope third audit can find missing Iraq funds (cnn.com)