Tuesday, June 14, 2011

Corruption Everywhere One Turns

"Missing Iraq money may have been stolen, auditors say" Paul Richter LA Times June 13 2011


"U.S. Defense officials still cannot say what happened to $6.6 billion, sent by the planeload in cash and intended for Iraq's reconstruction after the start of the war....This month, the Pentagon and the Iraqi government are finally closing the books on the program that handled all those Benjamins. But despite years of audits and investigations, U.S. Defense officials still cannot say what happened to $6.6 billion in cash — enough to run the Los Angeles Unified School District or the Chicago Public Schools for a year, among many other things.

"For the first time, federal auditors are suggesting that some or all of the cash may have been stolen, not just mislaid in an accounting error. Stuart Bowen, special inspector general for Iraq reconstruction, an office created by Congress, said the missing $6.6 billion may be 'the largest theft of funds in national history.'...It's fair to say that Congress, which has already shelled out $61 billion of U.S. taxpayer money for similar reconstruction and development projects in Iraq, is none too thrilled either"

Health Insurers Pump Your Premiums Into a Financial Black Hole.by Wendell Potter June 14, 2011 (originally published PR Watch)

Janet Tavikoli: Global Risk Now Greater Than at Time of LTCM

TEPCO Lied about the radiation from the explosion of the MOX fuel in reactor #3

"BP spends restitution money on lawsuits and lobbying" Jess Zimmerman at Grist April 2011
"First, they've already spent $2 billion this year lobbying the government -- including nagging them to end the offshore drilling moratorium, speed up the permitting process, and limit the company's liability for Gulf cleanup. Hey, people's JOBS are being RUINED here! Important people, the kind who work for BP!"

SEC Delays Corporate Anti-Corruption Measure. the Huffington Post

"Oil and mining interests are fighting back against an anti-corruption measure included in last summer's financial reform package that was supposed to go into effect at the end of this week.Despite a statutory April 15 deadline, the Securities and Exchange Commission has delayed its final rulemaking on the measure, which calls for publicly traded companies listed on U.S. stock exchanges to disclose how much they pay foreign governments to acquire drilling and mining rights in their countries.The new requirement is intended to make it more difficult for foreign leaders to hide and pocket the funds that energy and mining companies pay them"

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