1. Welcome to Tacoma World!

    You are currently viewing as a guest! To get full-access, you need to register for a FREE account.

    As a registered member, you’ll be able to:
    • Participate in all Tacoma discussion topics
    • Communicate privately with other Tacoma owners from around the world
    • Post your own photos in our Members Gallery
    • Access all special features of the site

Plane loads of US Cash lost

Discussion in 'Off-Topic Discussion' started by SOSHeloPilot, Jun 13, 2011.

  1. Jun 13, 2011 at 2:47 PM
    #1
    SOSHeloPilot

    SOSHeloPilot [OP] Well-Known Member

    Joined:
    Mar 31, 2009
    Member:
    #15422
    Messages:
    4,440
    Gender:
    Male
    U.S.A.
    Vehicle:
    2016 SR5, AC/LB, 4x2, V6, Auto, w/Tow, SiriusXM, Stock
    UnderCover SE, Bed Mat, Tint, Weather Techs & DashGoPro
    .

    I have been watching this story for a while and here is some more info on it.

    There were also several tractor trailer units of US Cash ($100.00 bills via ground transport) that were also lost that are not in this article. (another billion or so)

    Link to plane loads (C-130s) of US Cash lost --> http://www.latimes.com/news/nationw...g-billions-20110613,0,4414060.story?track=rss

    By Paul Richter, Los Angeles Times
    June 13, 2011
    Reporting from Washington— After the U.S.-led invasion of Iraq in March 2003, the George W. Bush administration flooded the conquered country with so much cash to pay for reconstruction and other projects in the first year that a new unit of measurement was born.

    Pentagon officials determined that one giant C-130 Hercules cargo plane could carry $2.4 billion in shrink-wrapped bricks of $100 bills. They sent an initial full planeload of cash, followed by 20 other flights to Iraq by May 2004 in a $12-billion haul that U.S. officials believe to be the biggest international cash airlift of all time.

    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."

    The mystery is a growing embarrassment to the Pentagon, and an irritant to Washington's relations with Baghdad. Iraqi officials are threatening to go to court to reclaim the money, which came from Iraqi oil sales, seized Iraqi assets and surplus funds from the United Nations' oil-for-food program.

    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.


    "Congress is not looking forward to having to spend billions of our money to make up for billions of their money that we can't account for, and can't seem to find," said Rep. Henry A. Waxman (D-Beverly Hills), who presided over hearings on waste, fraud and abuse in Iraq six years ago when he headed the House Government Reform Committee.

    Theft of such a staggering sum might seem unlikely, but U.S. officials aren't ruling it out. Some U.S. contractors were accused of siphoning off tens of millions in kickbacks and graft during the post-invasion period, especially in its chaotic early days. But Iraqi officials were viewed as prime offenders.

    The U.S. cash airlift was a desperation measure, organized when the Bush administration was eager to restore government services and a shattered economy to give Iraqis confidence that the new order would be a drastic improvement on Saddam Hussein's Iraq.

    The White House decided to use the money in the so-called Development Fund for Iraq, which was created by the Federal Reserve Bank of New York to hold money amassed during the years when Hussein's regime was under crippling economic and trade sanctions.

    The cash was carried by tractor-trailer trucks from the fortress-like Federal Reserve currency repository in East Rutherford, N.J., to Andrews Air Force Base in Maryland, then flown to Baghdad. U.S. officials there stored the hoard in a basement vault at one of Hussein's former palaces, and at U.S. military bases, and eventually distributed the money to Iraqi ministries and contractors.

    But U.S. officials often didn't have time or staff to keep strict financial controls. Millions of dollars were stuffed in gunnysacks and hauled on pickups to Iraqi agencies or contractors, officials have testified.

    House Government Reform Committee investigators charged in 2005 that U.S. officials "used virtually no financial controls to account for these enormous cash withdrawals once they arrived in Iraq, and there is evidence of substantial waste, fraud and abuse in the actual spending and disbursement of the Iraqi funds."

    Pentagon officials have contended for the last six years that they could account for the money if given enough time to track down the records. But repeated attempts to find the documentation, or better yet the cash, were fruitless.

    Iraqi officials argue that the U.S. government was supposed to safeguard the stash under a 2004 legal agreement it signed with Iraq. That makes Washington responsible, they say.

    Abdul Basit Turki Saeed, Iraq's chief auditor and president of the Iraqi Board of Supreme Audit, has warned U.S. officials that his government will go to court if necessary to recoup the missing money.

    "Clearly Iraq has an interest in looking after its assets and protecting them," said Samir Sumaidaie, Iraq's ambassador to the United States.

    .
     
  2. Jun 13, 2011 at 2:54 PM
    #2
    BrokenTusk

    BrokenTusk I support a velociraptor free workplace.

    Joined:
    May 5, 2010
    Member:
    #36607
    Messages:
    31,936
    Gender:
    Male
    First Name:
    Marcelasaurus
    AB, Canada
    Vehicle:
    The Scarlett Whore
    Check Build Thread!!
    wow, just wow
     
  3. Jun 13, 2011 at 2:57 PM
    #3
    OH-MAN

    OH-MAN Well-Known Member

    Joined:
    Apr 23, 2009
    Member:
    #16324
    Messages:
    2,292
    Gender:
    Male
    First Name:
    Steve
    Sunny Az.
    Vehicle:
    10 4X4 O.R. White
    TRD skid painted black,
    Sounds like bizznizz as usual.
     
  4. Jun 13, 2011 at 3:00 PM
    #4
    Seabass

    Seabass Chrome won't get you home

    Joined:
    Apr 2, 2010
    Member:
    #34455
    Messages:
    6,443
    Gender:
    Male
    First Name:
    Adam
    AZ
    Vehicle:
    '06 Sport 4x4
    You don't really care, do you.
    Somebody made out like a bandit son
     
  5. Jun 13, 2011 at 3:04 PM
    #5
    Toyotacrawler

    Toyotacrawler She's got the jimmy legs

    Joined:
    Aug 19, 2010
    Member:
    #41911
    Messages:
    4,171
    Gender:
    Male
    First Name:
    Mike
    Cusseta/Opelika AL
    Vehicle:
    2010 Tacoma DC TRD Sport
    5100's set to 1.75" Wheelers 3 leaf progressive AAL & 5100's for the rear Konig Countersteer Offroads K&N Drop in WeatherTech's Bed Mat Blacked out Badges Rear leaf TSB
  6. Jun 13, 2011 at 3:05 PM
    #6
    blackhawke88

    blackhawke88 wo ai ni bao bei ^_^

    Joined:
    Jan 11, 2009
    Member:
    #12478
    Messages:
    16,670
    Gender:
    Male
    SGV, CA
    Vehicle:
    07 TRD Offroad
  7. Jun 13, 2011 at 3:22 PM
    #7
    MountainEarth

    MountainEarth Well-Known Member

    Joined:
    Feb 1, 2010
    Member:
    #30519
    Messages:
    2,487
    Gender:
    Male
    First Name:
    Bryan
    CO
    Vehicle:
    2010 TRD OR Access
    Leer 100XR Shell, BedRug mat - comfy sleeping, GT Covers microfiber seat covers, BFG All Terrains 265/70r16, Dashmat, Antennax 13" shorty antenna, Weathertech liners, Ultra Gauge, Avid Light Bar, PIAA 520 ATPs, one old dog
    Not surprising. I don't care if you label yourself Republican, Democrat, conservative, liberal, or anything in between .. selfishness and greed have no party affiliation, and know no bounds. The massive fraud and abuse, and the number of contractors treating the US like their personal piggybank is sickening. But you see that same attitude day in day out everyday life too. The whole "fuck you .. I got mine" attitude is going to drive the Divided States of America into the ground.
     
  8. Jun 13, 2011 at 3:29 PM
    #8
    VanillaGorilla

    VanillaGorilla Itsnevertoearlytostartbee fingupyourobituary

    Joined:
    Feb 3, 2011
    Member:
    #50504
    Messages:
    1,291
    Gender:
    Male
    First Name:
    Erik
    East Bay Area, CA
    Vehicle:
    09 BSP Pre Runner SR5
    Tint. (DONE) Soon to come. 3in Llift (OME) Color matched grill (DONE) BHLM (DONE) Tail tint (DONE) Pro comp rims (8069) End goal: Murdered out truck
    It's all about the benjamins baby
     
  9. Jun 13, 2011 at 3:31 PM
    #9
    DaveS

    DaveS Member

    Joined:
    Feb 12, 2011
    Member:
    #51045
    Messages:
    22
    Gender:
    Male
    Toronto, Ontario
    Vehicle:
    TRD Sport + Leather
    I don't know what's worse - the extent of the fraud or the lack of surprise I had when reading this.
     
  10. Jun 13, 2011 at 3:40 PM
    #10
    horwitzs

    horwitzs Well-Known Member

    Joined:
    May 23, 2011
    Member:
    #57097
    Messages:
    680
    Gender:
    Male
    First Name:
    Seth
    Dayton, WA
    Vehicle:
    TX Pro
    Supercharger, OME lift w/ LR UCAs, running boards, toolbox, extinguisher mount, skidplate, N-Fab light bar, 40" R.I. LED bar, WO seat covers, TRD intake, Weathertech mats and visors, stubby antenna, hood struts, LED interior lighting, Hella Supertones, and other stuff I'm forgetting.
    I guess I'm surprised that we actually send cold hard cash.
    Figured it would be credit or wire transfers or something.
     
  11. Jun 13, 2011 at 3:43 PM
    #11
    blackhawke88

    blackhawke88 wo ai ni bao bei ^_^

    Joined:
    Jan 11, 2009
    Member:
    #12478
    Messages:
    16,670
    Gender:
    Male
    SGV, CA
    Vehicle:
    07 TRD Offroad
    just like Chinese restaurants, the Iraqi Government is CASH ONLY
     
  12. Jun 13, 2011 at 3:56 PM
    #12
    Airun

    Airun Well-Known Member

    Joined:
    Mar 19, 2010
    Member:
    #33516
    Messages:
    2,633
    Gender:
    Male
    First Name:
    Aaron
    Show Me State
    Vehicle:
    TRD sport, DCLB, 4wd
    Debadged, custom emblem, Husky liners, custom bedrail Yak Trak setup with load bars, , BakFlip Fibermax, OME 3" lift with LightRacing UCAs
    Wow, you always hear stories of govt funds being misused, but this takes it to a whole new level......just tack it on to our deficit, what's another 6 to 7 billion$? Chump change!
     
  13. Jun 13, 2011 at 4:52 PM
    #13
    river rat 69

    river rat 69 Well-Known Member

    Joined:
    Dec 6, 2010
    Member:
    #47249
    Messages:
    16,610
    Gender:
    Male
    First Name:
    Jim
    Orlando, Fla., Green side of the grass
    Vehicle:
    007, trd, sr5, fmf.
    NO Chrome,3" NFab's steps,TRD skid,Wet okie's.011 grill, k&n,5100's,All this comes right off when the old lady says let's go get a NEW ONE!!!
    WTF No pay pal????
     
  14. Jun 13, 2011 at 5:12 PM
    #14
    WNYTACOMA

    WNYTACOMA Well-Known Member

    Joined:
    Nov 23, 2008
    Member:
    #10961
    Messages:
    1,333
    Gender:
    Male
    Clarence, New York
    Vehicle:
    09 Metalic Grey TRD OFF ROAD
    Toyota Nerf steps Bugflector 2 Tool box Weathertech floor liners Wet Okole F/R - Bk/Char
    This is nothing new. Thanks to the like of 'in' contractors like Haliburton who were handed contracts for reasons we don't talk about in public, each plate the troops would eat a meal off of would cost the US taxpayer about $6000.00 dollars, including the 2nd plate they would use to cover the 1st to keep the sand out of the meal.

    Small wonder the country is in the shape it is in with the corruption at all levels.
     
  15. Jun 13, 2011 at 5:21 PM
    #15
    SOSHeloPilot

    SOSHeloPilot [OP] Well-Known Member

    Joined:
    Mar 31, 2009
    Member:
    #15422
    Messages:
    4,440
    Gender:
    Male
    U.S.A.
    Vehicle:
    2016 SR5, AC/LB, 4x2, V6, Auto, w/Tow, SiriusXM, Stock
    UnderCover SE, Bed Mat, Tint, Weather Techs & DashGoPro
    ...^^^ ... Exactly ... Both parties have been raiding the "gov't cookie jar" for a long time and the greed factor has gone off the charts.

    Since that was supposedly "Designated Iraqi Cash" that was lost ... now Iraq wants us to replace it or perhaps they will take the US to an international court ... this statement was just on the news too.
    .
     
  16. Jun 13, 2011 at 5:34 PM
    #16
    KenpachiZaraki

    KenpachiZaraki Its Wicked Flow BITCHES!!

    Joined:
    May 24, 2009
    Member:
    #17581
    Messages:
    3,815
    Gender:
    Male
    First Name:
    Alex •﹏•
    Lubbock
    Vehicle:
    05 TRD OffRoad Poser ψ(`∇´)ψ
    ALL POSER- Afe Pro Dry S drop in filter, 3" AP leaf pack, Eibach w/5100's up front, 5100's rear, Fog Light Mod, ABS off mod, Dash Light MOD, Doug Thorley Long Tube Headers, Wicked Flow Bitches MAX Muffler, 4" floods, 20", 43" light bars, 265/75/16 Hankook Dynapro ATm, oil catch can, rear diff breather relocate, Custome Sliders, SOS concepts Front bumper, Demon Eye Mod, backlit TRD emblem on bumper, Morimoto D2S projectors,
    Sooo.....what else is new?
     
  17. Jun 14, 2011 at 8:07 AM
    #17
    OH-MAN

    OH-MAN Well-Known Member

    Joined:
    Apr 23, 2009
    Member:
    #16324
    Messages:
    2,292
    Gender:
    Male
    First Name:
    Steve
    Sunny Az.
    Vehicle:
    10 4X4 O.R. White
    TRD skid painted black,

    This is the truth
     
  18. Jun 14, 2011 at 8:15 AM
    #18
    mjohn617

    mjohn617 Well-Known Member

    Joined:
    Mar 15, 2010
    Member:
    #33314
    Messages:
    719
    Gender:
    Male
    Petaluma, CA
    Vehicle:
    05 DC TRD sprt silver
    Toytec ULK, OME Dakar leafs, LED conversion, RBP sidesteps, Nitto Trail Grapplers, AR ATX Artillery 16" wheels, Doug Thorley LTH/Pipe Bomb, TRD Exhaust W/Classic Chambered Powerstick, Lightend Flywheel
    Wow, just...WOW!
     
  19. Jun 14, 2011 at 8:31 AM
    #19
    solus

    solus HOME!!!

    Joined:
    Aug 1, 2009
    Member:
    #20487
    Messages:
    4,491
    Gender:
    Male
    First Name:
    Mark
    Bremerton, WA
    Vehicle:
    RR 4wd SR5
    Actually, it was Iraq's U.S Dollars cash from the Iraqi food-for-oil program and other seized assets...caused by economic sanction during Saddams era... we just delivered it.

    If you also notice, Iraq is threatening to take it to court to seek reimbursement for the lost funds... even though we've already gave them about $60 Billion of U.S taxpayer money on top of security related expenditures...

    btw, IBTL
     
  20. Jun 15, 2011 at 8:42 PM
    #20
    mjohn617

    mjohn617 Well-Known Member

    Joined:
    Mar 15, 2010
    Member:
    #33314
    Messages:
    719
    Gender:
    Male
    Petaluma, CA
    Vehicle:
    05 DC TRD sprt silver
    Toytec ULK, OME Dakar leafs, LED conversion, RBP sidesteps, Nitto Trail Grapplers, AR ATX Artillery 16" wheels, Doug Thorley LTH/Pipe Bomb, TRD Exhaust W/Classic Chambered Powerstick, Lightend Flywheel

    This part is pretty CRAZY! I think there might be some more details not available to the public with this story...it's just too fucking out there!
     
To Top