Where has all the money gone?

Billmon writes about the enormous ongoing corruption involved in Operation Iraqi Fleecedom (or is it Iraqi Liquidation?):

A full accounting of these various swindles will, of course, never be made -- except maybe to God, if she can ever take a break from her war crimes deliberations. But it seems likely the Iraq money pit will set some kind of modern record: Instead of skimming some of the funds intended for real projects and diverting them to corrupt uses, the authors of this particular scandal appear to have taken a small fraction of the money intended for corruption and diverted it to legitimate projects.