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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Mike Johnston who wrote (51116)	1/24/2006 6:36:52 AM
From: westpacific	Respond to of 110194

1Q - gonna get ugly. Charts never lie. West

To: Mike Johnston who wrote (51116)	1/24/2006 7:18:05 AM
From: shades	Respond to of 110194

DJ US Report: Iraq Rebuilding Badly Hobbled - NYT . NEW YORK (Dow Jones)--The first official history of the $25 billion U.S. reconstruction effort in Iraq depicts a program hobbled from the outset by gross understaffing, a lack of technical expertise, bureaucratic infighting, secrecy and constantly increasing security costs, according to a preliminary draft, The New York Times reported in its Tuesday editions. The document, which begins with the secret prewar planning for reconstruction and touches on nearly every phase of the program through 2005, was assembled by the office of the Special Inspector General for Iraq Reconstruction and debated last month in a closed forum by roughly two dozen experts from outside the office. A person at the forum provided a copy of the document, dated December 2005, to The New York Times. The inspector general's office, whose agents and auditors have been examining and reporting on various aspects of the rebuilding since early 2004, declined to comment on the report other than to say it was highly preliminary. "It's incomplete," said a spokesman for the inspector general's office, Jim Mitchell. "It could change significantly before it is finally published." In the document, the paralyzing effect of staffing shortfalls and contracting battles between the State Department and the Pentagon, creating delays of months at a stretch, are described for the first time from inside the program, the Times reports. (END) Dow Jones Newswires January 24, 2006 02:04 ET (07:04 GMT)