Exporting American-style capitalism to Iraq:
A former Iraqi official estimated yesterday that more than $13 billion meant for reconstruction projects in Iraq was wasted or stolen through elaborate fraud schemes.
Salam Adhoob, a former chief investigator for Iraq’s Commission on Public Integrity, told the Senate Democratic Policy Committee, an arm of the Democratic caucus, that an Iraqi auditing bureau “could not properly account for” the money.
While many of the projects audited “were not needed — and many were never built,” he said, “this very real fact remains: Billions of American dollars that paid for these projects are now gone.”
He said a report that went to Iraqi Prime Minister Nouri al-Maliki and other top Iraqi officials was never published because “nobody cares” about investigating such cases. Many investigators, he said, feared for their safety because 32 of his co-workers have been murdered.
No problem. Just tell Hank Paulson that if you don’t get 20 billion right now, you will wreck the economy. Then you will be ready to open up shop in Manhattan.