Capitalism: a love story has a new chapter in America’s ongoing courtship with corporate welfare

 

New Fraud Cases Point to Lapses in Iraq Projects

“Investigators looking into corruption involving reconstruction in Iraq say they have opened more than 50 new cases in six months by scrutinizing large cash transactions

— involving banks, land deals, loan payments, casinos and even plastic surgery

— made by some of the Americans involved in the nearly $150 billion program.”

Gosh, that kinda makes yer flag-wavin chest-beating arms of patriotic capitalism sprain at the shoulders (if not at the brain.)

“Mr. President, it’s the old Pottery Barn rule, if you break it  you own it.”

“… some of the cases involve people who are suspected of having mailed tens of thousands of dollars to themselves from Iraq,

… or of having stuffed the money into duffel bags and suitcases when leaving the country,

… millions of dollars were moved through wire transfers. Suspects then used cash to buy BMWs, Humvees and expensive jewelry, or to pay off enormous casino debts.

… ‘there is ongoing fraud that we have not been able to nail down,’ said Stuart W. Bowen Jr., who leads the Office of the Special Inspector General for Iraq Reconstruction, an independent oversight agency.

… Mr. Bowen’s office agreed to answer general questions on the new inquiry but declined to divulge the names of the suspects, who include private contractors, military officers and civilian officials.

… Mr. Bowen said that many of the new cases involved bribes and kickbacks for awarding lucrative work to contractors, and that in a number of cases, spouses or other relatives of the suspects are accused of setting up fraudulent companies to hide the illicit gains.

… Wayne White, who until 2005 was a senior intelligence official with the State Department focused on Iraq and is now a scholar with the Middle East Institute in Washington, said he was not surprised that new cases were still turning up.

‘That’s been very disappointing, and  we’ve seen it in Afghanistan as well,’ Mr. White said.

“Now now Colin. You don’t understand. We want to loot that barn before we break it, then let the foxes in to get their profits once we do own it and can put in the fix , I mean fix what we broke.

… like slumlords.”