Monday, February 14, 2005

Gunny Sacks and Truckloads of Your Money in Iraq

Washington's had a heck of a time keeping track of your money as they spend it on contractors in Iraq. Nearly $9 billion of your tax money can't be accounted for.

Part of the problem may be with unconventional accounting practices. Officials with the Coalition Provisional Authority would count the cash as it left their vaults -- but have no paper trail after that.

A former CPA officer says they would hand out cash from the back of pick up trucks and in one case stuffed $2 million in cash into a contractor's gunnysack.

Obviously, CPA in this case should not be confused with Certified Public Accountant. Though the system sounds certifible. (WashPost)

1 comment:

Ken Grandlund said...

Another sad result of public apathy. And a sad comment on those who purport to stand for the American Citizen.

Thanks for the update.