Iraq Reconstruction Fraud "Bigger Than Madoff"
We’ve known for quite a while that the reconstruction effort in Iraq is rife with incredible corruption. Under the Bush administration, there were basically no safeguards, and stories of money diverted into the pockets of US looters were legion.
Still, I had no idea it was this bad. According to Patrick Cockburn of the respected UK newspaper The Independent, when you add up all the thefts of a few billion here, a few million there, it totals around $125 billion. That is two-and-a-quarter times as much as Madoff’s $50 billion Ponzi scheme.
Perhaps the saddest part is that of course, this money is NOT being used to rebuild Iraq. And therefore, not creating some good will to mitigate the horrific effects of our totally unjustified invasion and occupation. A proper rebuilding effort would have gone a long way toward demonstrating that the US had at least some altruistic motives. Instead, the rubble grows, the infrastructure fails, and Americans are hated more than ever.
I hope the Obama administration cracks down on these crooks, gets the troops out (I notice the timeline just got longer, from 16 to 18 months), and shows the Iraqi people that we are made of stronger stuff, and take seriously the mission to help undo the calamity we created.
