The Baghdad Job: Iraq's Missing Billions - CNBC

[DinarThug]

CNN. Broadcasting The Broadcast On CNBC.

January 9th, 2012 10:42 am · This is on TV tonight, and sounds worth watching!

CNBC – The Baghdad Job: Iraq’s Missing Billions – 9pm (ET) 12am 01/09/2012

CNBC SHOW TIMES Premieres Monday, January 9th 9p | 12a ET

ABOUT THE SHOW Beginning in the earliest days of the war in Iraq, the New York Federal Reserve in New Jersey, shipped billions of dollars in physical cash to Baghdad. The money came from Saddam Hussein’s assets frozen under global sanctions regimes and was sent to help restart the government and restore basic services. Much of it may have been used on the things it was intended for, but hundreds of millions, maybe billions of dollars are missing. As investigators are rushing to determine what happened to the money, CNBC tracked down the last American official responsible for delivering the cash before it disappeared inside the vaults of the Central Bank of Iraq.

SHOW HOST Eamon Javers CNBC Washington Reporter

Read More Link on Right PROGRAM HIGHLIGHTS

The Money In the first two years of the Iraq War, the US government shipped more than 281 million individual bills – 363 tons of cash. But soon after arriving at Iraq’s Central Bank, the paper trail documenting who controlled the money went cold.

The Convoy Trucks loaded with cash traversed the “Route Irish,” a perilous seven-mile journey through downtown Baghdad across territory often controlled by insurgents. It was a potentially deadly task with enormous risk.

The Courier His first name is Basel, a naturalized American citizen born in Saudi Arabia, who says he handled an astonishing $40 billion dollars in Iraq between 2003 and 2008. Basel may have been the last American to see the money before it disappeared into Iraq’s Central Bank.

The Investigation

Stuart Bowen, the Special Inspector General for Iraq Reconstruction, believes senior Iraqi officials stole millions, if not billions of dollars. Although there have been hundreds of reports, hearings and inquiries from Washington to Baghdad, no one can say with certainty what happened to the money.

LINK

[unirod]

Thanks Thug for the post. Iraq is surfacing in the headlines again on major networks...

[SgtFuryUSCZ]

***///

....read the first story by Eamon Javers (25OCT11) ...

I'm in shock n' awe...

[Abarvets]

Thanks Thug!

[DinarThug]

Thanks Thug for the post. Iraq is surfacing in the headlines again on major networks...

Ya, I'm Gonna Tivo It. It's A 30 Minute News Special + Is On @ 7pm + 10pm MST Where I Live.

B)

[In Iraq]

How do you lose billions? It is called theft and corruption! I lost a $50 bill one time and went into a panic.

[Shick]

THANKS THUG, GO READ AND LINK. GO RV!

[DinarThug]

THANKS THUG, GO READ AND LINK. GO RV!

Ya, Its On Right Now + Will Be Rebroadcasted Again In 3 Hours.

B)

[YourIntelSux]

Wasn't stolen money the reason for Kuwaitis RV as well? I thought I read that somewhere but I'm not sure.

Edited January 10, 2012 by YourIntelSux

[Abarvets]

Wasnt stolen money the reason for Kuwaitis RV as well? I thought I read that somewhere but I'm not sure.

Good question.

[Deltori]

I believe I read something recently that the money was found already and it was actually right where it was supposed to be. Go Figure

[GotSix]

Find it interesting that we dropped shipped 40 billion to the CBI & they even signed off it & now it's missing ...sooo much for the integrity of the CBI (Keep)

[zigmeister]

I believe I read something recently that the money was found already and it was actually right where it was supposed to be. Go Figure

I do too. It was in some bank account and someone forgot about it.

[Elixirbaby]

I do too. It was in some bank account and someone forgot about it.

That article was in just the last week. CBI probably found out about the story running and decided to fess up.

Go RV

[zigmeister]

That article was in just the last week. CBI probably found out about the story running and decided to fess up.

Go RV

Yeah but I remember this story, if it is the same running last summer, then suddenly they found the stash. Is it the same story I wonder?

[cgbrown]

This is just updating an old story. Not worth the hype.

[R Veyron]

Hope the didn't spend it all on Bunga Bunga parties and camel racing.