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06/22/2005 Entry: "bushco occupation standard accounting practices"

"'It weighed 28 tons and took up as much room as 74 washing machines. It was $2.4 billion in $100 bills, and Baghdad needed it ASAP.'"

~snip~

"'Then, when the shipment date changed, officials had to scramble to line up U.S. Air Force C-130 cargo planes to hold the money. They did, and the $2,401,600,000 was delivered to Baghdad on June 22, 2004.'

"'It was the largest one-time cash transfer in the history of the New York Fed.'

"'Disclosure of the frantic transfer in the final days of U.S. control over Iraq came during a daylong hearing Tuesday that indicated growing worry from Congress over U.S. oversight of spending in Iraq.'

"'Both Republicans and Democrats appeared taken aback by the volume of cash sent to Iraq: nearly $12 billion over the course of the U.S. occupation from March 2003 to June 2004, said a report by Rep. Henry A. Waxman (D-Los Angeles), who had reviewed e-mails and documents subpoenaed from the bank.'

"'The cash a total of 363 tons, generated mostly from oil revenues was Iraqi funds that had been held in trust by the Federal Reserve under the terms of a United Nations resolution.'"
Oh looky. An oil for food scandal, Julia, American Street, June 22, 2005

Not even the biggest, baddest drug lord in history ever did this. Although I have heard they used Air Force planes now and then.

 

 

 

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