All this talk about Hosni Mubarak’s looted billions must really piss off our other client rulers, the ones who have not yet set aside such rich stashes for their retirement.

But someone in Iraq has already made the move, disappearing $40 billion from Iraq’s development fund.

Around $40 billion are “missing” from a post-Gulf War fund that Iraq maintains to protect the money from foreign claims, its parliamentary speaker said on Monday.”There is missing money, we do not know where it has gone,” Osama al-Nujaifi said at a news conference in Baghdad. “The money is around $40 billion in total.”

[snip]

Nujaifi did not say when or how the discovery had been made regarding the missing money. He said two investigative committees had been formed to track down the cash.

But then, why should Iraq be any different from Afghanistan, where Hamid Karzi’s cronies have been looting the country since they got into power?

I’m so glad we’ve decided to spend trillions on our imperial wars rather than funding teachers and roads. The money is going to such a good cause, don’t you think?