Friday, September 09, 2005

LARGEST FRAUD IN HISTORY: OIL FOR FOOD

The Wall Street Journal reports:

Press reports often cite the overall size of Oil for Food at $60 billion, but Mr. Volcker's report makes clear that the real figure was in excess of $100 billion. From this, Saddam was able to derive $10.2 billion from illicit transactions. But the important point is that he was able to steer 10 times that sum toward his preferred clients in the service of his political aims. None of this happened by accident. . . .

No comments: