Saddam & Co.

Speed Read: The Iraq oil-for-food scandal

Getting caught funneling money to Saddam Hussein is certainly bad for p.r. But beyond that, after former Fed Chairman Paul Volcker issued a report last week on the private sector's role in the U.N. oil-for-food scandal, it isn't yet clear what will happen to the firms that allegedly handed Saddam $1.8 billion under the table:

How many companies are in the hot seat? More than half the 4,500 firms doing business with Iraq as part of the U.N.-administered oil-for-food program. Volcker's 623-page report, which alleges that Russian, French and Chinese companies made the lion's share of illegal payments, fingers some firms...

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