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Monday, March 28

Follow the Money

More than U.S. money is at stake. The administration has harshly criticized the United Nations over hundreds of millions stolen from the Oil-for-Food Program under Saddam. But the successor to Oil-for-Food created under the occupation, called the Development Fund for Iraq, could involve billions of potentially misused dollars. On Jan. 30, the former CPA's own inspector general, Stuart Bowen, concluded that occupation authorities accounted poorly for $8.8 billion in these Iraqi funds. "The CPA did not implement adequate financial controls," Bowen said. U.S. officials argue that it was impossible, in a war environment, to have such controls. Yet now the Bush administration is either ignoring or stalling inquiries into the use of these Iraqi oil funds, according to reports by Democratic Rep. Henry Waxman, and others.

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