***MISSING*** $1 BILLION

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By Pratap Chatterjee, AlterNet. Posted August 23, 2004.

Missing: one-third of the Pentagon's equipment and $1.9 billion of Iraqi money. Guess who has it?

Missing: One giant generator owned by the United States military. Estimated cost: $734,863

Last seen: Somewhere in Iraq.

While much of the media is focused on the pitched battle over the control of the holy shrine in Najaf, a bigger scandal is brewing in Iraq that may well have an equally important effect on the future of the U.S. occupation.

A team of auditors was dispatched to Iraq in late January this year after a string of internal reports showed that the military was wasting billions of dollars of taxpayer money. They have issued eleven reports since June 25, almost all of which have pointed to the misuse of the money allocated for reconstruction, be it Iraqi or Congress-appropriated funds.

According to two of these reports issued in late July by Stuart Bowen, the auditor-inspector general of the Coalition Provisional Authority (CPA), not only have a full one-third of the items purchased by the Pentagon gone MIA (including the pricey generator), but a whopping. $1.9 billion or more of Iraqi oil revenue has also mysteriously disappeared.

Embarrassed military authorities did eventually track down the missing generator and much of the money, both of which seemed to have ended up with none other than Halliburton. As it turns out they weren't missing after all; it's just that Dick Cheney's former employer had misplaced or conveniently forgotten to turn in the receipts to the correct people.

But the Pentagon was not able to explain just how Halliburton gained possession of Iraqi funds when neither the United States Congress nor the Iraqi government authorized their transfer to Halliburton in the first place. Worse yet, the man who authorized the allocation – CPA chief Paul Bremer – had already quietly left Iraq just as the reports were being released.