2/15/09

Independent: Iraq Fraud 2.5 times Worse than Madoff Fraud

Something philosophical to ponder. We are not sure that if this is a bad comparison of apple-fraud and orange-fraud or if indeed all evil schemes and scandals by definition can be compared and contrasted. Here's the start of the report:
A 'fraud' bigger than Madoff: Senior US soldiers investigated over missing Iraq reconstruction billions
By Patrick Cockburn in Sulaimaniyah, Northern Iraq

In what could turn out to be the greatest fraud in US history, American authorities have started to investigate the alleged role of senior military officers in the misuse of $125bn (£88bn) in a US-directed effort to reconstruct Iraq after the fall of Saddam Hussein. The exact sum missing may never be clear, but a report by the US Special Inspector General for Iraq Reconstruction (SIGIR) suggests it may exceed $50bn, making it an even bigger theft than Bernard Madoff's notorious Ponzi scheme...lots more...

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