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Frank Rich points to a 513 page report about Iraqi reconstruction and claims the report points to it as "a sinkhole of corruption, cronyism, incompetence and outright theft that epitomized Bush management at home and abroad." The cost? $117 billion.

Whether or not Rich's interpretation is accurate remains to be seen (and if it is, we need to raise hell about it).

But what is rich (excuse the bad pun) is using the Madoff "Ponzi" scheme as the analogy for his piece:

It pinpoints, among other transgressions, a governmental Ponzi scheme concocted to bamboozle Americans into believing they were accruing steady dividends on their investment in a “new” Iraq.

Why go for a private Ponzi scheme when you have a huge government one you can use instead. Let's face it - the perfect analogy for any such waste would be the government Ponzi scheme called Social Security and the continuing attempt by politicians to "bamboozle" Americans into believing they are accruing steady retirement dividends on their investment. Either Rich has no problem with that government Ponzi scheme or it just slipped his mind. But there's no doubt it would have made a much better analogy for his piece than Madoff.

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I assume that Mr. Rich (isn’t that rich?) is just as upset that his Messiah is about to spend some $1 trillion a year which will go into the pockets of union grafters, thieves, crooked pols, and other no-goodniks.

However, I think I am on pretty firm ground that said Mr. Rich, as well as the other numbnuts on the Left (which pretty much describes the Left) will find that the spending by The Clown™ is fine, and dandy, and makes perfect sense because, as you see, The Clown™ cares. He cares about us. We care about him. We want to spend ourselves into bankruptcy because to do anything else is just against America. And we can’t have any of that.

Madoff’s $50 billion? A Ponzi scheme. $117 billion for Iraq? A Ponzi scheme.

The Clown’s™ $1 trillion "for the next several years"?

Proper investment in America.

Yep. The Left has definitely crossed into Orwellian territory.

Written By: James Marsden
URL: http://

Let’s face it - the perfect analogy for any such waste would be the government Ponzi scheme called Social Security and the continuing attempt by politicians to "bamboozle" Americans into believing they are accruing steady retirement dividends on their investment.

I know that many Americans believe in the "Social Security retirement dividends," but I am not aware of any politicians doing anything active to "bamboozle" people into believing this. People are quite capable of believing in nonsense without help from the politicians.

McQ, could you give any examples of politicians encouraging this belief? Statements like "you deserve it" or "you were promised" do not count.

Written By: Rory Daulton
URL: http://

I’m hard-put to see how the reconstruction is a Ponzi scheme. It might be a waste, or even a boondoggle, but it’s not a Ponzi scheme.

Written By: Steverino
URL: http://

That’s fairly easy, Rory - look up "Social Security lockbox", Social Security Trust Fund and "personal SS account". All imply your "investment" goes into something other than it does - the general fund. There is no SS lockbox. There is no SS Trust Fund. Your "investment" is earning nothing - never has, never will. SS is a true, honest to goodness Ponzi scheme in which the "investment" of those working now is used to pay those who are retired now.

Written By: McQ
URL: http://www.QandO.net

iraq recon is not a ponzi, but prob is a waste.
ss is a ponzi.
to confuse the two is beyond stupid. typical of left.

Written By: yo
URL: http://

Thanks, McQ. I had forgotten the talk about the "Social Security Trust Fund." The "lockbox" could be interpreted more charitably to Clinton and Gore, and Bush’s talk about the "SS account" really was about a personal account building value. But the "trust fund" talk has no redeeming value that I can think of.

Written By: Rory Daulton
URL: http://

Any construction project in a developing country has the corruption problem. Even China, where you can get shot in the head for being corrupt, has corruption on a massive scale. Heck, I believe we had NASA contractors providing kickbacks at one point too.

Even if the projects were boondoggles, keeping military aged men occupied digging holes and such instead of considering joining the insurgents is a valuable good. And I doubt the projects were all boondoggles, considering the pressure was on to get power plants running, etc.

I would be interested to know about corruption in the Marshall Plan, because I bet it existed then as well.

Written By: Harun
URL: http://

I’ve already figured out that the next Nobel Peace Prize with be centered on the Madoff "Ponzi" scheme.

Al Gore won with his "green" scheme, Madoff should probably get it for his.

You say, why ?

Because Madoff has managed to suck the life out of plenty of "do-gooder" Lefty "charities". Shuttering them may actually bring real peace to this world.

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