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Also by Paul Volcker:

Good Intentions Corrupted, October 2006
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Good Intentions Corrupted
Paul Volcker

The Oil for Food Scandal And the Threat to the U.N.

PublicAffairs
October 2006
On Sale: September 30, 2006
275 pages
ISBN: 1586484729
EAN: 9781586484729
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Non-Fiction

Despite its good intentions, mismanagement and corruption plagued the UN's Oil-for-Food Program:

* More than 2,200 companies paid $1.8 billion in illegal surcharges and kickbacks to the Iraqi regime
* The UN Security Council stood by as the Iraqi regime outright smuggled about $8.4 billion of oil during the Program years in violation of UN sanctions
* The Iraqi regime steered oil contracts for political advantage by giving rights to buy oil to dozens of global political figures sympathetic to Iraq's goal to loosen or overturn the UN sanctions
* The Iraqi regime provided Benon Sevan, the UN's chief administrator of the Program, with rights to buy more than 7 million barrels of oil
* UN-related humanitarian agencies collected tens of millions of dollars for costs they never incurred, and some built factories in Iraq that weren't needed or that never worked at all
* Even UN Secretary-General Kofi Annan was tainted by it

But the whole story has never been told in one place.

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