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The Prophet of Garbage
2007-03-00, Popular Science - March 2007 Issue
http://www.popsci.com/popsci/science/873aae7bf86c0110vgnvcm1000004eecbccdrcrd...

The Plasma Converter ... can consume nearly any type of waste—from dirty diapers to chemical weapons—by annihilating toxic materials in a process ... called plasma gasification. A 650-volt current passing between two electrodes rips electrons from the air, converting the gas into plasma. The plasma arc is so powerful, it disintegrates trash into its constituent elements by tearing apart molecular bonds. The system is capable of breaking down pretty much anything except nuclear waste. The only by-products are an obsidian-like glass [and] a mixture of primarily hydrogen and carbon monoxide that can be converted into a variety of marketable fuels, including ethanol, natural gas and hydrogen. Perhaps the most amazing part of the process is that it’s self-sustaining. Once the cycle is under way, the 2,200°F syngas is fed into a cooling system, generating steam that drives turbines to produce electricity. About two thirds of the power is siphoned off to run the converter; the rest can be used on-site for heating or electricity, or sold back to the utility grid. Even a blackout would not stop the operation of the facility. New York City is already paying an astronomical $90 a ton to get rid of its trash. According to Startech, a few 2,000-ton-per-day plasma-gasification plants could do it for $36. Sell the syngas and surplus electricity, and you’d actually net $15 a ton. But the decision-making bureaucracy can be slow, and it is hamstrung by the politically well-connected waste-disposal industry. Startech isn’t the only company using plasma to turn waste into a source of clean energy. A handful of start-ups—Geoplasma, Recovered Energy, PyroGenesis, EnviroArc and Plasco Energy, among others—have entered the market in the past decade.

Note: Why isn't this amazing, proven machine and technology making front page headlines? Read this exciting article to find how it is already being used. For why you don't know about it, click here. And for another amazing new energy source not yet reported in the major media, click here.

Carlyle Changes Its Stripes
2007-02-12, BusinessWeek
http://www.businessweek.com/magazine/content/07_07/b4021001.htm

In the two decades since private equity firms first stormed the business world, they've been called a lot of things, from raiders to barbarians. But only [the Carlyle Group] has been tagged in the popular imagination with warmongering, treason, and acting as cold-eyed architects of government conspiracies. Carlyle, founded 20 years ago in the shadow of Washington's power centers, long went about its business far from the public eye. Its ranks were larded with the politically connected, including former Presidents, Cabinet members, even former British Prime Minister John Major. It used its partners' collective relationships to build a lucrative business buying, transforming, and selling companies -- particularly defense companies that did business with governments. Carlyle's radical makeover has turned the firm into the biggest fund-raising juggernaut the private equity world has ever seen. By the end of this year it expects to have an unprecedented $85 billion in investor commitments under management, up sixfold from 2001 and more than any other firm. [Founder David] Rubenstein sees the total swelling to as much as $300 billion by 2012. Make no mistake--Carlyle is already massive. It owns nearly 200 companies that generate a combined $68 billion in revenue and employ 200,000 people. Last year it bought a new company approximately once every three days and sold one almost once a week -- all while dabbling in increasingly esoteric investments. Since its founding in 1987 it has generated annualized after-fee returns of 26%, compared with the industry average in the mid-teens.

Note: With former presidents including George H.W. Bush and many other top world politicians helping to sway huge military contracts, could this be considered a form of insider trading? Those 26% yearly returns are placing our tax monies in the hands of individuals and companies that are already among the wealthiest in the world. For lots more on manipulation of your tax money, click here. And for a Washington Post article showing Osama Bin Laden's brother met with George H.W. Bush at a Carlyle meeting one day before 9/11, click here.

Bribes offered to scientists
2007-02-03, Sydney Morning Herald (Australia's leading newspaper)
http://www.smh.com.au/news/environment/bribes-offered-to-scientists/2007/02/0...

Scientists and economists have been offered $10,000 each by a lobby group funded by one of the world's largest oil companies to undermine the UN climate change report. Letters sent by the American Enterprise Institute, an ExxonMobil-funded think tank with close links to the Bush Administration, offered the payments for articles that emphasise the shortcomings of the report. Travel expenses and additional payments were also offered. The institute has received more than $1.6 million from ExxonMobil - which yesterday announced a $50 billion annual profit, the biggest ever by a US company - and more than 20 of its staff have worked as consultants to the Bush Administration. A former head of ExxonMobil, Lee Raymond, is the vice-chairman of the institute's board of trustees.

Note: Why wasn't this important story covered by any major media in the U.S.? For an answer, click here.

Drug company 'hid' suicide link
2007-01-29, BBC News
http://news.bbc.co.uk/1/hi/programmes/panorama/6291773.stm

Secret emails reveal that the UK's biggest drug company distorted trial results of an anti-depressant, covering up a link with suicide in teenagers. GlaxoSmithKline (GSK) attempted to show that Seroxat worked for depressed children despite failed clinical trials. And that GSK-employed ghostwriters influenced 'independent' academics. GSK faces action in the US where bereaved families have joined together to sue the company. As a result, GSK has been forced to open its confidential internal archive. Karen Barth Menzies is a partner in one of the firms representing many of the families. She has examined thousands of the documents which are stored, box upon box, in an apartment in Malibu, California. She said: "Even when they have negative studies that show that this drug Seroxat is going to harm some kids they still spin that study as remarkably effective and safe for children." An email from a public relations executive working for GSK ... said: "Originally we had planned to do extensive media relations surrounding this study until we actually viewed the results. Essentially the study did not really show it was effective in treating adolescent depression, which is not something we want to publicise." Seroxat was banned for under 18s in 2003 after the MHRA revealed that GSK's own studies showed the drug actually trebles the risk of suicidal thoughts and behaviour in depressed children.

Note: For more reliable information on how the drug companies put profits ahead of your health, click here.

Molecule offers cancer hope
2007-01-17, Toronto Star (One of Canada's leading newspapers)
http://www.thestar.com/News/article/171898

In results that "astounded" scientists, an inexpensive molecule known as DCA was shown to shrink lung, breast and brain tumours in both animal and human tissue experiments. The study was published yesterday in the journal Cancer Cell. "I think DCA can be selective for cancer because it attacks a fundamental process of cancer that is unique to cancer cells," said Dr. Evangelos Michelakis, a professor at the Edmonton university's medical school and one of the study's key authors. The molecule appears to repair damaged mitochondria in cancer cells. "When a cell is getting too old or doesn't function properly, the mitochondria are going to induce the cell death," lead study author Sebastien Bonnet said yesterday. Bonnet says DCA – or dichloroacetate – appears to reverse the mitochondrial changes in a wide range of cancers. "One of the really exciting things about this compound is that it might be able to treat many different forms of cancer because all forms of cancer suppress mitochondrial function," Michelakis said. Bonnet says DCA may also provide an effective cancer treatment because its small size allows easy absorption into the body, ensuring it can reach areas that other drugs cannot, such as brain tumours. Because it's been used to combat other ailments ... DCA has been shown to have few toxic effects on the body. Its previous use means it can be immediately tested on humans. Unlike other cancer drugs, DCA did not appear to have any negative effect on normal cells. It could provide an extremely inexpensive cancer therapy because it's not patented. But ... the lack of a patent could lead to an unwillingness on the part of pharmaceutical companies to fund expensive clinical trials.

Note: Even these scientists realize that though this discovery could be a huge benefit to mankind, because the drug companies will lose profits, they almost certainly will not fund studies. Expensive AIDS drugs with promising results, on the other hand, are rushed through the studies to market. For more reliable, verifiable information on how hugely beneficial health advances are shut down to keep profits high, click here and here.

Industry 'paid top cancer expert'
2006-12-08, BBC News
http://news.bbc.co.uk/1/hi/health/6220440.stm

The scientist who first linked smoking to lung cancer was [later] paid by a chemicals firm while investigating cancer risks in the industry. Professor Sir Richard Doll held a consultancy post with US firm Monsanto for more than 20 years. The BBC has seen private letters which show that Sir Richard ... received a US$1,500-a-day consultancy fee from Monsanto in the mid-1980s. During that time he investigated the potential cancer causing properties of the powerful herbicide Agent Orange, made by the company. Sir Richard [argued] that there was no evidence that Agent Orange caused cancer. Professor Lennart Hardell, of the Oncology Department at University Hospital Orebro, Sweden, has also studied the potential hazards posed by Agent Orange. He was one of the scientists whose work was dismissed by Sir Richard. He said: "It's quite OK to have contacts with industry, but you should be fair and say 'well, I'm [working] as a consultant for Monsanto." Further documents obtained by The Guardian newspaper allegedly show that Sir Richard was also paid a £15,000 fee by the Chemical Manufacturers Association, and chemicals companies Dow Chemicals and ICI for a review of vinyl chloride, used in plastics, which largely cleared the chemical of any link with cancers apart from liver cancer. Sir Richard's views on the chemical were used by the manufacturers' trade association to defend it for more than a decade.

Ex-security officials rake it in
2006-06-18, Seattle Times/New York Times
http://seattletimes.nwsource.com/html/nationworld/2003068930_homeland18.html

Dozens of members of the Bush administration's domestic-security team...are collecting bigger paychecks in different roles: working on behalf of companies that sell security products, many directly to the federal agencies the officials once helped run. At least 90 officials at the Department of Homeland Security or the White House Office of Homeland Security...are executives, consultants or lobbyists for companies that collectively do billions of dollars' worth of domestic-security business. Former Homeland Security Secretary Tom Ridge...stands to profit now that Savi Technology, a maker of radio-frequency-identification equipment that the department pushed while he was secretary, is being bought by Lockheed Martin. He was appointed to the Savi board three months after resigning from the department. Former Homeland Security undersecretary Asa Hutchinson...the biggest potential for profit among Hutchinson's ventures appears to come from his role as an investor in Fortress America Acquisition. Hutchinson, before the [company's] stock was sold publicly, bought 200,000 shares for $25,000. At Friday's trading price the stock was worth more than $1.2 million. More than two-thirds of the department's most senior executives in its first years have moved through the revolving door. Federal law prohibits senior executive-branch officials from lobbying former government colleagues or subordinates for at least a year after leaving public service. But by exploiting loopholes in the law...it is often easy for former officials to do just that.

Robbery, not reconstruction, in Iraq
2006-04-18, Boston Globe
http://www.boston.com/news/globe/editorial_opinion/oped/articles/2006/04/18/r...

We have heard various individual cases of overcharging and fraud by American firms in the reconstruction of Iraq. A year ago, an audit by the inspector general found no evidence of work done or goods delivered on 154 of 198 contracts. Sixty cases of potential swindles are under investigation. Halliburton and its hundreds of millions of dollars of overcharges or baseless costs are well known. But millions more were taken by companies that promised to build or restore libraries or police facilities, or deliver trucks and construction equipment. US government investigators can account for only a third of the $1.5 billion given by the CPA to the interim government and it appears that a substantial portion of the $8 billion given to Iraqi ministries went to "ghost employees." Because of the way the United States set things up after the invasion, contractors are immune from prosecution by Iraqis. This is robbery, not reconstruction. It has been three years and all Iraq has become is a "free-fraud zone," according to one of the attorneys for whistleblowers in Iraqi swindles. Recently, the Army found that Halliburton had $263 million of exaggerated or unexplainable costs on a $2.4 billion no-bid contract, yet still paid Halliburton $253 million of the $263 million.

Corporate Wealth Share Rises for Top-Income Americans
2006-01-29, New York Times
http://www.nytimes.com/2006/01/29/national/29rich.html?ex=1296190800&en=78482...

New government data indicate that the concentration of corporate wealth among the highest-income Americans grew significantly in 2003, as a trend that began in 1991 accelerated in the first year that President Bush and Congress cut taxes on capital. In 2003 the top 1 percent of households owned 57.5 percent of corporate wealth, up from 53.4 percent the year before, according to a Congressional Budget Office analysis of the latest income tax data. The top group's share of corporate wealth has grown by half since 1991, when it was 38.7 percent. In 2003, incomes in the top 1 percent of households ranged from $237,000 to several billion dollars. For every group below the top 1 percent, shares of corporate wealth have declined since 1991. Long-term capital gains were taxed at 28 percent until 1997, and at 20 percent until 2003, when rates were cut to 15 percent. The top rate on dividends was cut to 15 percent from 35 percent that year. The White House said it did not believe that the 2003 tax cuts had much influence on wealth shares.

Doctor says bird flu drug is ‘useless’
2005-12-04, London Times
http://www.timesonline.co.uk/article/0,,2091-1903144,00.html

A Vietnamese doctor who has treated dozens of victims of avian flu claims the drug being stockpiled around the world to combat a pandemic is 'useless' against the virus. Dr Nguyen Tuong Van runs the intensive care unit at the Centre for Tropical Diseases in Hanoi and has treated 41 victims of H5N1. Van followed World Health Organisation (WHO) guidelines and gave her patients Tamiflu, but concluded it had no effect. 'We place no importance on using this drug on our patients,' she said. 'Tamiflu is really only meant for treating ordinary type A flu. It was not designed to combat H5N1 . . . (Tamiflu) is useless.' Roche, the company that makes Tamiflu, has sold stockpiles of the drug to 40 countries and insists there is clear evidence it will protect against a future flu virus. However, it stresses the drug must be given within 48 hours to be effective. The WHO admitted Tamiflu had not been widely successful in humans. 'However, we believe in many Asian countries it hasn't been used until late in the illness,' a spokesman said.

Note: Yet hundreds of millions of dollars are being spent to stockpile this drug. It's quite interesting that the former chairman of the board of directors of the company that made Tamiflu is current Secretary of Defense Donald Rumsfeld. Mr. Rumsfeld has had over $5 million in stock gains from the sales of this drug. To read about this and lots more: http://www.WantToKnow.info/avianflu

Refiners Maintain a Firm but Legal Grip on Supplies
2005-06-18, Los Angeles Times
http://www.latimes.com/business/la-fi-calgas18jun18,0,7589520.story

California refiners are simply cashing in on a system that allows a handful of players to keep prices high by carefully controlling supplies. The result is a kind of miracle market in which profits abound, outsiders can't compete and a dwindling cadre of gas station operators has little choice but go along. Refiners "not only control how much supply is in the marketplace, they control who gets it and at what price," said Dennis DeCota, executive director of the California Service Station and Automotive Repair Assn. The recent history of California's fuel industry is a textbook case of how a once-competitive business can become skewed to the advantage of a few, all with the federal government's blessing. Refiners acknowledge their California businesses have become the most profitable in the nation. The rest of the country isn't far behind. Characteristics once unique to California — specialty fuels, a refinery shortage, the growing dominance of a few companies — have begun to plague other gasoline markets.

No Boundaries
2005-06-09, CNN News
http://transcripts.cnn.com/TRANSCRIPTS/0506/09/ldt.01.html

A panel sponsored by the Council on Foreign Relations wants the United States to focus not on the defense of our own borders, but rather create what effectively would be a common border that includes Mexico and Canada. CHRISTINE ROMANS, CNN CORRESPONDENT: On Capitol Hill, testimony [is] calling for Americans to start thinking like citizens of North America and treat the U.S., Mexico and Canada like one big country. That's the view in a report called "Building a North American Community." It envisions a common border around the U.S., Mexico and Canada in just five years, a border pass for residents of the three countries, and a freer flow of goods and people. [Task force member Robert] PASTOR: What we hope to accomplish by 2010 is a common external tariff which will mean that goods can move easily across the border. We want a common security perimeter around all of North America. ROMANS: Security experts say folding Mexico and Canada into the U.S. is a grave breach of that sovereignty. [The report calls for] temporary migrant worker programs expanded with full mobility of labor between the three countries in the next five years. The idea here is to make North America more like the European Union. [CNN Anchor Lou] DOBBS: Americans must think that our political and academic elites have gone utterly mad at a time when three-and-a-half years, approaching four years after September 11, we still don't have border security. And this group of elites is talking about not defending our borders, finally, but rather creating new ones. It's astonishing.

Note: This agenda is being promoted in key political forums with practically no media reporting. For one of the few media articles reporting on this important topic, click here.

Advanced vehicles demonstrate zero oil-consumption, reduced emissions
2005-05-18, Boston Globe
http://www.boston.com/cars/news/2005/may/0518_tourdesol.html

Carmakers such as Toyota and Honda can't seem to make hybrid vehicles fast enough to keep up with public interest. Interest in this new technology is growing, and one group is highlighting these technical marvels in a yearly event called the Tour de Sol. Top prize for the Monte-Carlo Rally went to a modified Honda Insight driven by Brian Hardegen, of Pepperell, who broke the 100-mile-per-gallon barrier over a 150-mile range. The car actually got 107 miles-per gallon. St. Mark's High School in Southboro, and North Haven Community School, North Haven, ME, demonstrated true zero-oil consumption and true zero climate-change emissions with their modified electric Ford pick-up and Volkswagen bus. More than 60 hybrid, electric and biofueled vehicles from throughout the US and Canada demonstrated that we have the technology today to power our transportation system with zero-oil consumption and zero climate-change emissions.

Note: If the above link fails, click here. If high school students can do it, why aren't the car companies seriously developing these technologies? And why are car manufacturers not able to keep up with demand on hybrid vehicles? For more, click here.

Merck's infant vaccine stirs new controversy
2005-03-08, Newsday/Los Angeles Times
http://www.nynewsday.com/news/health/ny-usglan084168623mar08,0,3713664.story

Merck & Co. continued to supply infant vaccine containing a mercury preservative for two years after declaring that it had eliminated the chemical. Thimerosal, which is nearly 50 percent ethyl mercury, has largely been eliminated from most routine childhood vaccines, although it is present in most flu shots. More than 4,200 parents have filed claims in the federal Vaccine Injury Compensation Program, alleging that their children suffered autism or other neurological disorders from mercury in their shots.

Halliburton operates in Iran despite sanctions
2005-03-07, MSNBC News
http://www.msnbc.msn.com/id/7119752

in January, Halliburton won a contract to drill at a huge Iranian gas field called Pars, which an Iranian government spokesman said "served the interests" of Iran. "I am baffled that any American company would want to have employees operating in Iran," says Sen. Susan Collins, R-Maine. "I would think they'd be ashamed." Halliburton says the operation — videotaped by NBC News — is entirely legal. It's run by a subsidiary called "Halliburton Products and Services Limited," based outside the U.S. In fact, the law allows foreign subsidiaries of U.S. corporations to do business in Iran under strict conditions. Other U.S. oil services companies, like Weatherford and Baker Hughes, also are in Iran. And foreign subsidiaries of NBC's parent company, General Electric, have sold equipment to Iran. For Halliburton to have done this legally, the foreign subsidiary operating in Iran must be independent of the main operation in Texas. Yet, when an NBC producer approached managers in Iran, he was sent to company officials in Dubai. But they said only Halliburton headquarters in Houston could talk about operations in Iran.

How Bush's grandfather helped Hitler's rise to power
2004-09-25, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/usa/story/0,12271,1312540,00.html

George Bush's grandfather, the late US senator Prescott Bush, was a director and shareholder of companies that profited from their involvement with the financial backers of Nazi Germany. Newly discovered files in the US National Archives [confirm] that a firm of which Prescott Bush was a director was involved with the financial architects of Nazism. His business dealings...continued until his company's assets were seized in 1942 under the Trading with the Enemy Act. There has been a steady internet chatter about the "Bush/Nazi" connection, much of it inaccurate and unfair. But the new documents, many of which were only declassified last year, show that even after America had entered the war...he worked for and profited from companies closely involved with the very German businesses that financed Hitler's rise to power. Remarkably, little of Bush's dealings with Germany has received public scrutiny, partly because of the secret status of the documentation involving him. But now [a] multibillion dollar legal action for damages by two Holocaust survivors against the Bush family, and the imminent publication of three books on the subject are threatening to make Prescott Bush's business history an uncomfortable issue for his grandson. Three sets of archives spell out Prescott Bush's involvement. All three are readily available, thanks to the efficient US archive system. Like his son, George, and grandson, George W, he went to Yale where he was, again like his descendants, a member of the secretive and influential Skull and Bones student society.

U.S. corporations paying less in taxes
2004-09-23, MSNBC/Forbes
http://msnbc.msn.com/id/6080561/

The effective tax rate for America's largest and most profitable corporations has sharply declined in recent years, and one third of such companies paid zero taxes -- or less -- in at least one of the last three years. In 2003 alone, 46 of the 275 companies...paid no taxes at all in 2003, despite reporting a total of $42.6 billion in pre-tax profits. Indeed, these companies received $5.4 billion in tax rebates that year. Half of the "tax-break dollars" over the three-year period went to just 25 companies. All told, 82 companies paid zero or negative taxes in at least one of the last three years and 28, including Boeing, paid negative taxes for the entire period. The largest beneficiaries were some of the most profitable companies: General Electric, SBC Communications, Citigroup, IBM and Microsoft. Of the 10 most profitable U.S.-based companies on the Forbes 2000, only Wal-Mart and Freddie Mac do not appear on the study's list of top 25 tax break beneficiaries. At the same time, IRS data indicates that the overall share of federal taxes paid by corporations in now less than 10 percent, down from nearly 13 percent in 1997. This trend occurred against a backdrop of rising corporate earnings. The study attributes the trend to the widening availability of offshore tax shelters and other lawful avoidance techniques.

The Truth About the Drug Companies (Book Review)
2004-07-15, New York Review of Books
http://www.nybooks.com/articles/17244

The combined profits for the ten drug companies in the Fortune 500 ($35.9 billion) were more than the profits for all the other 490 businesses put together ($33.7 billion). Over the past two decades the pharmaceutical industry has moved very far from its original high purpose of discovering and producing useful new drugs. Now primarily a marketing machine to sell drugs of dubious benefit, this industry uses its wealth and power to co-opt every institution that might stand in its way, including the US Congress, the FDA, academic medical centers, and the medical profession itself. The great majority of "new" drugs are not new at all but merely variations of older drugs already on the market. Of the 78 drugs approved by the FDA in 2002, only 17 contained new active ingredients, and only seven of these were classified by the FDA as improvements over older drugs. [The] market would collapse virtually overnight if the FDA made approval of new drugs contingent on their being better in some important way than older drugs already on the market. Many medical schools and teaching hospitals set up "technology transfer" offices to ... capitalize on faculty discoveries. Medical school faculty entered into ... lucrative financial arrangements with drug companies, as did their parent institutions. One of the results has been a growing pro-industry bias in medical research—exactly where such bias doesn't belong. The industry ... fought the state of Maine all the way to the US Supreme Court, which in 2003 upheld Maine's right to bargain with drug companies for lower prices. This industry is taking us for a ride, and there will be no real reform without an aroused and determined public to make it happen.

Note: The above book and book review was written by Dr. Marcia Angell, former editor in chief of the prestigious The New England Journal of Medicine. For more reliable information on the health cover-up, click here.

State take from corporate income falls
2004-04-15, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2004/04/15/...

Individual Californians are shouldering an increasing percentage of the state's general fund, while the share of revenue from corporate income taxes has declined, according to a new analysis by a think tank in Sacramento. "Over time, the burden of paying for public services has, in a fairly dramatic way, shifted from businesses to individuals,'' said Jean Ross, director of the nonprofit California Budget Project in Sacramento. Ross went back more than 40 years to track how much the state derived from its three main revenue sources: personal income tax, sales tax and corporate income tax. Over time, income taxes paid by individuals have risen to fill half of the state's coffers, while corporate income taxes have fallen to about 10 percent of the take. Dan Bucks, executive director of the Multistate Tax Commission, said the decline in corporate taxes as a share of state coffers is occurring in all 47 states that levy some form of business or corporate tax. "Our data indicate that ... corporate income taxes were 9.7 percent of state revenues in 1980 and 4.9 percent in 2002,'' he said. Personal income taxes -- levied in more than 40 states -- have also risen nationwide "in a virtually straight line,'' he said. Corporations have gotten better at sheltering income from both federal and state taxes. For instance, the General Accounting Office, watchdog agency of Congress, recently reported that more than 60 percent of U.S. corporations paid no federal taxes from 1996 through 2000.

BBC uncovers lost Iraq billions
2008-06-10, BBC News
http://news.bbc.co.uk/2/hi/middle_east/7444083.stm

A BBC investigation estimates that around $23bn (£11.75bn) may have been lost, stolen or just not properly accounted for in Iraq. The BBC's Panorama programme has used US and Iraqi government sources to research how much some private contractors have profited from the conflict and rebuilding. A US gagging order is preventing discussion of the allegations. The order applies to 70 court cases against some of the top US companies. While President George W Bush remains in the White House, it is unlikely the gagging orders will be lifted. To date, no major US contractor faces trial for fraud or mismanagement in Iraq. Henry Waxman, who chairs the House committee on oversight and government reform, said: "It may well turn out to be the largest war profiteering in history." In the run-up to the invasion, one of the most senior officials in charge of procurement in the Pentagon objected to a contract potentially worth $7bn that was given to Halliburton, a Texan company which used to be run by Dick Cheney before he became vice-president. Only Halliburton got to bid. The search for the missing billions also led ... to a house in ... west London where Hazem Shalaan lived until he was appointed to the new Iraqi government as minister of defence in 2004. He and his associates siphoned an estimated $1.2bn out of the ministry. They bought old military equipment from Poland but claimed for top-class weapons. Meanwhile they diverted money into their own accounts. Judge Radhi al-Radhi of Iraq's Commission for Public Integrity investigated. He said: "I believe these people are criminals."

Note: For many other reports on war profiteering, click here.

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