SPDR S&P 500 (SPY)

[leftyg]

stolen from a blog:

An unfortunate truth is that Washington's plan for nation building has been hamstrung because the insurgents have been targeting contractors and construction workers. This lethal violence maneuvered the US into a "security first, reconstruction later" mode, reminding us that on every battlefield, the enemy always has a vote.

True, the United States has poured billions into rebuilding Iraq. But the standing joke among Iraqis is that a US company will be awarded a $10 billion contract. The work is then subcontracted to a construction company in Kuwait, which in turn subcontracts to an Iraqi firm, which in turn hires four kids to paint a school. Iraqis then laugh and say, "You can be sure none of those kids ever sees the $10 billion." This cynicism, along with the legacy of massive corruption under former dictator Saddam Hussein, has hobbled US reconstruction efforts.