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Profiting War - Politics, Business, Civil, History - Posted: 28th Mar, 2006 - 11:43am
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Profiting From War
I would like to start a topic on profiting from war. I raise this in reference to the Iraq war, but I would also like to hear of examples from other wars.
While Iraqis and troops dy by the thousands, huge multi-national corporations are cashing in over the reconstruction of this war torn country.
Over $50 billion of contracts have already been awarded, mostly to US companies. Halliburton, a company that Dick Cheney holds millions of dollars in stocks and was head of, was awarded an uncontested $2.4 billion contract before the Iraq War even began. They now control about 50 per cent of the reconstruction effort. The ironic thing is that Iraq people, through their resources, pay for US companies to repair damage caused by the US Government to Iraq.
What does everyone think about this shameless rush to profit from pain? Should reconstruction efforts be governed by occupying forces, the international community or Iraqis themselves? And why is there not more of an attempt to involve local companies or people to help them. I want to hear facts, figures and opinion.
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| BBC Newsnight - The 50 Billion Dollar Robbery video While the dollar cost of the war in Iraq is still being counted, it's estimated that about $US50 billion has already been directed to private contractors, most of them American, to rebuild and secure the country. But auditors say that vast amounts are unaccounted for. The BBC's Peter Marshall has been investigating startling allegations of cronyism, contracts and war profiteers. "It was the most blatant disregard for the procurement regulations I have ever seen," says Bunny Greenhouse, a Contracting Officer in the US Army. The report examines the remarkable story of one company, Custer Battles, who won a contract for $US17m to provide security for an airport. They demanded, and received, $US2m upfront, in cash. They were unable to do the job, but were paid the full amount in any case. A senior US official tells Marshall that Custer Battles were "opportunistic, aggressive, and took advantage of a chaotic situation to make a lot of money." The company is now being sued for $US10m, for fraud. According to Marshall, one contract for repairs to a cement factory was awarded to a US contractor for $US50 million. They were unable to carry it out, so the same job was eventually done by an Iraqi company for $US80,000. Marshall says that the Houston oil and gas company Halliburton has cornered more than half of Iraq's reconstruction work. The US Vice President, Dick Cheney, was Chief Executive of Halliburton for five years, immediately before becoming V-P. One $US2.4 billion contract - to restore Iraqi oil wells - was awarded to Halliburton without any competition. Auditors say the company overcharged by $US200 million, but they don't have to pay it back. Meanwhile Bunny Greenhouse, who first blew the whistle on the contract, has been demoted. |
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Post Date: 28th Mar, 2006 - 11:43am / Post ID: #
War Profiting
User Arvhic, such Topics already exist in this Community. Please conduct a Search first before posting a New Topic. As an example here is one you started: Military Spending Gone Mad or a similar Topic: War.
In addition to the above, this is the wrong Board for such Discussion: See Military Tactics or Politics & Activism.
* Thread Closed *
TOPIC: Profiting From War