More from the Phony 'Conservative' Agenda of George W. Bush
By Brad Friedman on 6/29/2005, 2:13pm PT  

This is from a Reuters article we'd missed last week. It seems that there are still George W. Bush supporters who are gullible enough to believe he actually gives a damn about their tax burden and the way in which their money is spent. Apparently such folks will believe anything.

Yet since Bush didn't feel it important enough to broach this subject last night in his report to the American People on how well things are going in Iraq, we suspect this news --- even a week old --- is still notable enough that we should help get out the word about what's actually happening in Iraq...

A report by Democratic Rep. Henry Waxman of California, said in the week before the hand-over on June 28, 2004, the U.S.-led Coalition Provisional Authority ordered the urgent delivery of more than $4 billion in Iraqi funds from the U.S. Federal Reserve in New York.

One single shipment amounted to $2.4 billion --- the largest movement of cash in the bank's history, said Waxman.
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Cash was loaded onto giant pallets for shipment by plane to Iraq, and paid out to contractors who carried it away in duffel bags.

The report, released at a House of Representatives committee hearing, said despite the huge amount of money, there was little U.S. scrutiny in how these assets were managed.
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An audit by the U.S. Special Inspector General for Iraq Reconstruction said U.S. auditors could not account for nearly $8.8 billion in Iraqi funds and the United States had not provided adequate controls for this money.
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Contractors were told to turn up with big duffel bags to pick up their payments and some were paid from the back of pick-up trucks.

One picture shows grinning CPA officials standing in front of a pile of cash said to be worth $2 million to be paid to a security contractor.
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In total, more than 281 million individual bills, including more than 107 million $100 bills, were shipped to Iraq on giant pallets loaded onto C-130 planes, the report said.