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KOK Edit: your favorite copyeditor since 1984(SM) KOK Edit: your favorite copyeditor since 1984(SM) Katharine O'Moore Klopf
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Wednesday, February 07, 2007

Insanity: Shipping Tons of Cash into a War Zone

Why in hell isn't anybody monitoring that bozo Bush and his appointees?!

From Reuters:
WASHINGTON (Reuters)—The U.S. Federal Reserve sent record payouts of more than $4 billion in cash to Baghdad on giant pallets aboard military planes shortly before the United States gave control back to Iraqis, lawmakers said on Tuesday.

The money, which had been held by the United States, came from Iraqi oil exports, surplus dollars from the U.N.-run oil-for-food program and frozen assets belonging to the ousted Saddam Hussein regime.

Bills weighing a total of 363 tons were loaded onto military aircraft in the largest cash shipments ever made by the Federal Reserve, said Rep. Henry Waxman, chairman of the House of Representatives Committee on Oversight and Government Reform.

"Who in their right mind would send 363 tons of cash into a war zone? But that's exactly what our government did," the California Democrat said during a hearing reviewing possible waste, fraud and abuse of funds in Iraq.

On December 12, 2003, $1.5 billion was shipped to Iraq, initially "the largest pay out of U.S. currency in Fed history," according to an e-mail cited by committee members.

It was followed by more than $2.4 billion on June 22, 2004, and $1.6 billion three days later. The CPA turned over sovereignty on June 28. ...




1 comment:

The Fat Lady Sings said...

You know - this was not the first time this was done. Right at the beginning of the war - just after Bagdad fell - almost a billion in cash was helicoptered into Kurdish territory. It completely disappeared. The copter pilots said they landed and dropped it off as ordered - but the money trail disappears immediately after that. Who in their right mind sends cash into a war zone? Bush should be impeached for rampant stupidity.

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