Sell your KBR/Halliburton stock, now!

Then buy lots of popcorn. This is going to be fun!

Henry Waxman is about to start investigating war profiteering.
Jane Hamshire at Firedoglake

Henry Waxman wrote Rummy a letter this week, outlining his concerns about unanswered questions regarding war profiteering scams:

At the lowest level, Blackwater security guards were paid $600 a day. Blackwater added a 36 percent markup, plus overhead costs, and sent the bill to a Kuwaiti company that ordinarily runs hotels, according to the contract.

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That company, Regency Hotel, tacked on costs and profit and sent an invoice to ESS. The food company added its costs and profit and sent its bill to Kellogg Brown & Root, a division of Halliburton, which added overhead and profit and presented the final bill to the Pentagon.

And bless be, it looks like Henry is going for the jugular:

The California congressman said that Blackwater's services were not just pricey, but prohibited, because the Army never authorized Blackwater or any other Halliburton subcontractors to guard convoys or carry weapons. Houston-based Halliburton has been paid at least $16 billion to provide food, lodging and other support for troops in Iraq, and $2.4 billion to work on Iraqi oil infrastructure.

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