"Which brings us to the fact that the Volcker Commission appears to have drawn some fairly damning conclusions already. In the briefing paper accompanying the release of these audits it marvels at the critical aspects of the program that weren't audited. Although 'the potential for abuse was a principal concern of the U.N. team that negotiated the Memorandum of understanding with Iraq in 1995,' the Commission writes, 'there were no examinations of the oil and humanitarian contracts' or the processing of letters of credit by BNP Paribas, which handled the program money. Such examinations, the Commission states, might have deterred the surcharge and kickback schemes Saddam used to get around sanctions."It's worth reading the whole thing. There's a link to the audit reports as well.
"As the time is short, I will leave out all the flattery, and retain all the criticism." - Henry David Thoreau
Thursday, January 13, 2005
The Oil for Food Audits
More damning reports about this U.N. program. This from the WSJ. Where's the outrage from the Left regarding this incompetance and corruption? Let's not hold our breath:
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US had full knowledge of biggest deal in oil for food scam, but didn't care.
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