What happens when a World Organization fails to thwart off their temptations, and thousands of companies dip into money designated to feed the starving? A Security Council so desperate to keep their scheduled kick-backs secure, that they would do anything to secure Saddam's permanence as Dictator of Iraq.
Sounds like the beginning of a Michael Creighton Novel, but read on...
This Morning: 10/28/2005 10:20:00 AM -0400:
In two weeks, the 18 month inquiry by the panel of the Reform of the United Nations, that has concluded its investigation, and will close its doors. This distinguished panel, headed by Paul Volcker, met with delegates at this briefing, and presented copies of the 623-page report to U.N. Secretary-General Kofi Annan. Read Analysis: U.N. oil-food report & what next
"What's at stake here is whether the United Nations will be able to act effectively, whether it will have the funds, the professional competence, and the administrative leadership to respond."
-Click-Image- to enter Eye on the UN.
According to Paul Volcker's independent Inquiry:
"The U.N. Security Council "failed officially to recognize the problem and authorize an effective response.
...And continued to say:
"The value of oil smuggled outside of the program is estimated by the committee to be nearly $11 billion as opposed to an estimated $1.8 billion of illicit revenues from (former Iraqi President) Saddam Hussein's manipulation of transactions occurring under the program," said a statement accompanying the report.
"At the same time, Iraqi leaders gave preferential treatment to France, Russia and China because these countries were permanent members of the Security Council and perceived to be more favorable to lifting sanctions," it said.
"Now as a result of that manipulation and with the complicity, believe it or not, of thousands of companies ... almost $2 billion was siphoned off illicitly," said Volcker, former U.S. Federal Reserve chairman.
... Reactions of Annan:
After attending Volcker's briefing to delegates in a basement conference room, Annan said, "We are going to learn from the lessons, take measures to strengthen the Organization. And we already have proposals for reforms that will ensure that, in future, we are better equipped to handle this sort of program."
...The bottom line statement from Annan:
...he already has expressed regret the United Nations got involved in such a program, even though it did help keep 25 million people from starvation, and has said he hopes it never gets involved in a similar program again.
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~ The political teen.