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For those who feel the war on terrorism
could use a little "Structural Adjustment".

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Tuesday, April 13, 2004

From the Financial Times (via Atrios):

'"Many companies have given control over the evacuation procedure to the US Department of Defence, so we cannot leave even if we want to," said a security company director. He said insurgents are now targeting mercenaries in Iraq, aware that foreign contractors win more headlines than soldiers. But the director stressed that under their contracts, companies would still be compensated in full for any days lost as a result of insecurity.'

I wonder how long these contracts are drawn up for. Let's assume for a moment that everything goes completely south in Iraq and the U.S. is forced to leave. What, then, happens with all these contracts? If they're paid in full, even though no work gets done (and none ever will), then that's potentially a huge chunk of change down the drain. I haven't seen any of these contracts so I don't know if there's a clause for full millitary defeat and withdrawl, but if someone like Halliburton is on the dole until December 2005... Maybe I can find some contract work to do in Iraq.

Update: To be blunt about it, if the U.S. cuts and runs it may be the case that Halliburton, Kellog Brown and Root, et. al. get to cut and run _and_ get their money. Not to mention the lucrative positions that await folks like Cheney at the end of their term. It's like a big payday advance. Even though Kerry wins the election the whole Bush administration is laughing all the way to the bank.

Andrew 12:48 PM : |


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