From: "Robert G Lewis" 


"Mark"  wrote in message
news:41aa97dc$1{at}w3.nls.net...
> I'd not expect them to be judicious with the books in the environment
> they're in, not excusing it, just understanding it. It's good that they
> were passing out Saddam's cash, but I don't come to the same conclusions
> you do on the lack of spending of the $18B.
>
> Last I read (and I've not read about it lately, so it could be all of it
> by now) they had spent a couple billion and had about $13B committed and
> awaiting disposition according to conditions on the ground and the usual
> lag from awarding a contract and actual execution of same.
>
> Think of the time frame between getting approval of a home improvement
> loan from the bank and the completion of the home improvement - the money
> has already been spent, just not yet changed hands.
>

Just saw a reference to less than 2 billion dispersed  out of 18 billon
budgeted for. Some of the articles I read a while back said the CPA was
using the Iraqi money to avoid following the regulations on using our
money. A couple indicated they failed to follow their own rules. This was
before we turned over 'sovereignty'  and I have not tracked down the actual
reports. Since we raised such hell over Iraq's accounting for weapons and
oil for food money one would think we should try and do better in
accounting for their money.

Bob Lewis

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