We Have Always Spent Iraqi Money on That:
Conquer and Plunder Follows "Shock and Awe"
by by Zeynep Toufe, Common Dreams

The cost of Iraq’s reconstruction and the practice of awarding large contracts to big corporations with close ties to the administration, such as Halliburton, have been repeatedly criticized over the past year. Recent news reports, however, indicate the truth is even worse. While Iraqi economy remains starved of development and cash, funds allocated by Congress for Iraqi reconstruction are not being spent. Meanwhile, billions of dollars in frozen Iraqi assets and Iraqi oil revenues are being spent without accountability, transparency, and now, apparently in a mad dash as the date for turning over control of those funds approaches.

Full story here.