Wednesday, December 01, 2004

Where's the money?

After the U.S. invasion of Iraq, the United States took control of all of the Iraqi government’s bank accounts, including the income from oil sales. The United Nations approved the financial takeover, and President Bush vowed to spend Iraq’s money wisely. But now critics are raising serious questions about how well the United States handled billions of dollars in Iraqi oil funds.

Iraq's oil resources generate billions of dollars — money the United States promised to protect after overthrowing Saddam Hussein.

Now, Frank Willis, a former senior American official in Iraq, tells NBC News the United States failed to safeguard the oil money known as the Development Fund for Iraq.

click here for the full article.

Anybody surprised out there?

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