Bush Administration Lost $18 Billion In Iraqi Funds; N.Y. Fed Won’t Reveal Details

by Ben Hoffman

The Federal Reserve Bank of New York is refusing to tell U.S. government investigators how much money it sent to Iraq during the first years of the American invasion, as a top Iraqi official suggested the missing and possibly stolen funds from that era is more than $18 billion – nearly three times the previously reported figure. Iraqi parliament speaker Osama al-Nujafi told al-Jazeera Monday that the missing U.S. funds totals $18.7 billion. Read more…

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