[Congressional Record (Bound Edition), Volume 151 (2005), Part 18]
[House]
[Page 24430]
[From the U.S. Government Publishing Office, www.gpo.gov]




                      THE VOLCKER COMMITTEE REPORT

  (Mr. STEARNS asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. STEARNS. Mr. Speaker, the recent release of a report from the 
Independent Inquiry Committee into the U.N. Oil-for-Food Program, also 
known as the Volcker Committee, has once again brought the issue of 
U.N. mismanagement to the forefront.
  According to the Volcker Committee, $1.8 billion in kickbacks and 
elicit surcharges were paid to Saddam Hussein's government by nearly 
2,200 different companies in widespread abuse of the Oil-for-Food 
Program. As we can see, the Oil-for-Food Program lacked proper 
accountability and oversight, and thus caused massive fraud and abuse.
  Unfortunately, this lack of accountability and oversight is nothing 
new at the United Nations. As the largest U.N. donor, the U.S. has the 
responsibility to ensure that the dollars of the American taxpayers are 
not being wasted. Until such accounting reforms are made, no United 
States money should be sent to the U.N. Only after such reforms are 
enacted will the United Nations begin its return to relevancy.

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