Auditors: Katrina waste could top $2 billion

CNN
Posted: December 27th, 2006 by Thomas L. Knapp

“The tally for Hurricane Katrina waste could top $2 billion next year because half of the lucrative government contracts valued at $500,000 or greater for cleanup work are being awarded with little competition. Federal investigators have already determined the Bush administration squandered $1 billion on fraudulent disaster aid to individuals after the 2005 storm. Now they are shifting their attention to the multimillion dollar contracts to politically connected firms that critics have long said are a prime area for abuse.” (12/26/06)

Leave a Reply