Waxman: "It may well turn out to be the largest war profiteering in history." A BBC investigation estimates that around $23bn (£11.75bn) may have been lost, stolen or just not properly accounted for in Iraq. The BBC's Panorama programme has used US and Iraqi government sources to research how much some private contractors have profited from the conflict and rebuilding. A US gagging order is preventing discussion of the allegations. The order applies to 70 court cases against some of the top US companies. While Presdient George W Bush remains in the White House, it is unlikely the gagging orders will be lifted. To date, no major US contractor faces trial for fraud or mismanagement in Iraq.
