October 15, 2004

Proof that the Administration is reckless with your money

"The Bush Administration cannot account for how billions of dollars of Iraqi oil proceeds were spent," Waxman said. "The mismanagement, lack of transparency, and potential corruption will seriously undermine our efforts in Iraq. A thorough congressional investigation is urgently needed."

The audit was performed by the accounting firm KMPG for the International Advisory and Monitoring Board, created by the United Nations to monitor the stewardship of Iraqi funds.

The report monitored spending by the Coalition Provisional Authority, the U.S.-run governing agency which went out of existence in June; Iraqi ministries; the Kurdish Regional Government and Iraqi provisional governments. It covered the period from January to June this year. Read the whole story from the Associated Press

Posted by Crazy Eddie at October 15, 2004 12:04 AM
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