Saddam Hussein: How to be a Billionaire
It was easy for Saddam. According to the Senate Government Affairs Committee Saddam kifed some $21-billion -- b, billion -- in Oil for Food funds.
In each case, Saddam's regime awarded a certificate that allowed the holder to sell the right to buy Iraqi oil at below-market prices.Here's where Kerry and Edwards would have become shrill with meaningless phrases about Halliburton, if you are suffering from campaign withdrawal.
The certificate holder would charge a per-barrel commission to transfer the rights to an oil buyer. Per-barrel fees were usually less than $1 per barrel but racked up big dollar amounts because allocations upward of 1 million barrels were routine.
It's not Halliburton. It's the United Nations.