Don’t Shred on Me BY CLAUDIA ROSETT
The Bear on Nov 30 2005 at 5:41 am | Filed under: Need to Know
The U.N. must not be allowed to destroy the Volcker investigation’s archives.
Paul Volcker’s findings on Oil for Food have been widely received as the final word on the United Nations relief program for Saddam Hussein’s Iraq. Far from it–as Mr. Volcker himself has admitted. In reporting that Saddam, along with his smuggling and oil graft, diverted $1.8 billion in kickbacks from U.N.-approved relief contracts under the program, Mr. Volcker underestimates, quite probably by billions, the amount the U.N. allowed Saddam Hussein and many of his favored business partners to graft out of Oil for Food deals for goods such as oil parts, milk, laundry soap and baby food. In low-balling the total, Mr. Volcker understates the negligence of the U.N., and overlooks some of the most potentially virulent links in Oil for Food.
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