[...] Cory Booker! Whatever would g...
Did White House threaten Cory Booker for criticizing Obama’s attack ad? « Full Metal Patriot on Obama threatens to withhold Social Security checks despite sufficient funds [UPDATED] Social Security Chief Actuary exposes Obama deception
Defense Department "misplaces" $8.7 Billion
When an employee can’t account for missing corporate funds, he or she is usually fired and — in some cases — prosecuted for embezzlement. Sadly, this won’t be one of those cases.
BAGHDAD – The U.S. Defense Department is unable to properly account for over 95 percent of $9.1 billion in Iraqi oil money tapped by the U.S. for rebuilding the war ravaged nation, according to an audit released Tuesday.The report by the U.S. Special Investigator for Iraq Reconstruction offers a compelling look at continued laxness in how such funds are being spent in a country where people complain basic services like electricity and clean water are sharply lacking seven years after the U.S.-led invasion that toppled Saddam Hussein.
The audit found that shoddy record keeping by the Defense Department left the Pentagon unable to fully account for $8.7 billion it withdrew between 2004 and 2007 from a special fund set up by the U.N. Security Council. Of that amount, Pentagon “could not provide documentation to substantiate how it spent $2.6 billion.”
[...]
The audit cited a number of factors that contributed to the inability to account for most of the money withdrawn by the Pentagon from the Development Fund for Iraq. It said most of the Defense Department organizations that received DFI money failed to set up Treasury Department accounts, as required.In addition, it said no Defense Department organization was designated as the main body to oversee how the funds were accounted for or spent.
“The breakdown in controls left the funds vulnerable to inappropriate uses and undetected loss,” the report said.
The audit found that the U.S. continues to hold about $34.3 million of the money even though it was required to return it to the Iraqi government.
The audit did not indicate that investigators believed there were any instances of fraud involved in the spending of these funds.
I wonder if the audit also gave any advice on the purchases of a bridge, or maybe some swampland in Florida?
Posted by FullMetalPatriot
12th gen. American, Constitutionalist, Harley-riding Texan, gun owner & NRA member, blogger, illustrator, Florida Gator alumnus. #TCOT
12th gen. American, Constitutionalist, Harley-riding Texan, gun owner & NRA member, blogger, illustrator, Florida Gator alumnus. #TCOT
When the U.N. is involved, is anyone really surprised about situations like this popping up?