Friday, January 9, 2009

OBAMA'S NEW TOP PENTAGON OFFICIAL COULDN'T FIND MISSING MONEY LAST TIME HE WAS THERE

Not to mention the conflict of interest of hiring a top official of a major defense contractor.


Catherine Austin Fitts, Solari - In fiscal 1999, the Department of Defense was "missing" $2.3 trillion dollars. To put that amount of money in perspective, it is approximately 3 times what President-elect Obama is proposing to spend to revitalize America.

In fiscal 2000, the Department of Defense was "missing" $1.1 trillion, about 1.5 times what President-elect Obama wants to invest in America.

So between October 1998 and September 2000, the Department of Defense was "missing" $3.3 trillion. Because the amount of money disappearing has been so enormous, years ago we started a archive of articles on the "missing money" to try to keep up with the trillions sliding out of the federal accounts.

From 1997 to March 2001, the Under Secretary of Defense (Comptroller) who served as the chief financial officer for the Department of Defense was William J. Lynn III. In that position, he was the chief financial officer for the Department of Defense and was the principal advisor to the Secretary and Deputy Secretary of Defense for all budgetary and fiscal matters. That means he was the person responsible to make sure no money went missing and that the Department of Defense published audited financial statements - which it failed to do in all those years.

When Mr. Lynn left Defense in 2001, he joined DFI International and then in 2005 became the chief lobbyist for Raytheon. He was replaced at Defense by Dov Zakheim.

Today, President Elect Obama nominated William J. Lynn III as the Deputy Secretary of Defense. . .

Ann Scott Tyson Washington Post - President-elect Barack Obama yesterday announced his picks for four senior defense officials, including two who served as top Pentagon budget officials under President Bill Clinton. Obama said he would nominate William J. Lynn III as deputy defense secretary, Robert F. Hale as undersecretary of defense-comptroller, Michele Flournoy as undersecretary of defense for policy, and Jeh Charles Johnson as general counsel. . .

Lynn, senior vice president of government operations for Raytheon, would run much of the Pentagon day to day if confirmed as Gates's deputy, and he would probably spearhead what Gates has said would be a new approach to acquisition. . .

Hale is executive director of the American Society of Military Comptrollers and served from 1994 to 2001 as Air Force assistant secretary for financial management. He also was head of the Congressional Budget Office's defense unit.

Flournoy, co-founder of the Center for a New American Security, a centrist national security think tank, has worked on a broad range of defense policy and international security issues.

Johnson is a partner in the law firm of Paul, Weiss, Rifkind, Wharton & Garrison, based in New York City, and previously served as general counsel for the Air Force.

All in the family: CNAS includes on its board not only Obama's new intelligence chief Admiral Blair but two of the names above, Lynn and Flournoy, its president. Also on the board are William Perry, Madeleine Albright, John Podesta and Richard Armitage.

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