$13 Billion of U.S. Taxpayers Money was Stolen or Wasted in Iraq.

This article in yesterday's "Washington Post" was sickening to read but hardly comes as a surprise.

It is also sad to read that there was most likely involvement by Iraqi Government officials and U.S. contractors. The investigator who testified as to the waste and theft was fearful of his life as 32 of his fellow investigative co-workers have been killed.

One scheme involved officials from the Iraqi Defense Ministry setting up a front company that received $1.7 Billion in U.S. funds to buy guns, armoured vehicles and other equipment. Only a small percentage was ever purchased and in one case, they had bullet-proof vests delivered that were defective and useless.

In another case involving Iraqis and U.S. contractors, $24.4 million was spent on an electricity project that "only existed on paper". The worst part was that money sent to the Defense Ministry was discovered to have been diverted to Al-Qaeda and found its way to bank accounts in Jordan and other places.

Let us hope the Government spends the proposed $700 Billion bail out funds in a more responsible and accountable manner.