Meanwhile, the Coalition Provisional Authority, which we ran, has lost 8.8 billion dollars. By lost, I mean it’s totally unaccounted for. Not only has Congress not "looked into" this $8.8 billion and who might have it now, but it seems that some members are completely unaware that this staggering sum, which was supposed to go toward rebuilding Iraq, is missing. The Sunday morning after the White House Correspondents dinner, I ran into Senator George Allen at a brunch thrown by John McLaughlin and his wife. Allen had never heard of the missing $8.8 billion, or at least that's what he told me. And he's on the Senate Foreign Relations Committee.
At the end of the column Franken asks “What in God’s name is going on?” Indeed.
The Franken column is linked to and backed up by this January AP story posted on the Forbes page:
Audit: $9 Billion Unaccounted for in Iraq
01.30.2005, 07:41 PM
The U.S. occupation authority in Iraq was unable to keep track of nearly $9 billion it transferred to government ministries, which lacked financial controls, security, communications and adequate staff, an inspector general has found.