Discussion:"Fiscally Reponsible" Elephant Report Card: Fail

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Discussion Forum Index --> General Chat --> "Fiscally Reponsible" Elephant Report Card: Fail


Fr. Mackelhenry (talk|edits) said:

14 July 2012
If you want your money managed right, give it to an Elephant.

At least 51 billion wasted on Iraq reconstruction:

http://www.ajc.com/news/nation-world/auditors-say-billions-likely-1477891.html

Money went up in smoke.

No mention of the 60 million (or was it 60 billion?) in cash that also disappeared over there. I hope it was 60 million. I know it had to be shipped out of the Fed. in New York and it was a big operation just to get it over there so it could be stolen; and I don't think it was just Iraqi's that stole it..

Kevinh5 (talk|edits) said:

14 July 2012
http://www.youtube.com/watch?v=WHcwRGD3cqk

Fr. Mackelhenry (talk|edits) said:

14 July 2012
Update: I mentioned the cash that went missing above. The amount stolen was 6.6 billion dollars. Total mismanagement or worse. I was insane to send 6.6 billion over there in cash, in fact it was so insane that only a crook would do it to begin with.

http://articles.latimes.com/2011/jun/13/world/la-fg-missing-billions-20110613

Quote: The White House [Meaning the Bush-Cheney White House] decided to use the money in the so-called Development Fund for Iraq, which was created by the Federal Reserve Bank of New York to hold money amassed during the years when Hussein's regime was under crippling economic and trade sanctions.

The cash was carried by tractor-trailer trucks from the fortress-like Federal Reserve currency repository in East Rutherford, N.J., to Andrews Air Force Base in Maryland, then flown to Baghdad. U.S. officials there stored the hoard in a basement vault at one of Hussein's former palaces, and at U.S. military bases, and eventually distributed the money to Iraqi ministries and contractors.

But U.S. officials often didn't have time or staff to keep strict financial controls. Millions of dollars were stuffed in gunnysacks and hauled on pickups to Iraqi agencies or contractors, officials have testified."

If they didn't have the staff to keep "strict" financial controls how do they know where the money went? They don't. They don't have any idea where the money went. I'm sure a lot of it came back to the United States, carried in by U.S. citizens. Why not take a few mil. when you had the chance? It could have gone in anyone's pocket and I'm sure it did.


Keep in mind, the 6.6 billion was in addition to the 51 billion reported above that went up in smoke during the "reconstruction" of Iraq.

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