Our MBA president: The gift that keeps on giving

APNewsBreak: Major problems found in war spending
By RICHARD LARDNER, Associated Press
7 June 2009
WASHINGTON – This is one Christmas gift U.S. taxpayers don't need. Construction of a $30 million dining facility at a U.S. base in Iraq is scheduled to be completed Dec. 25. But the decision to build it was based on bad planning and botched paperwork.
...
In its first report to Congress, the Wartime Contracting Commission presents a bleak assessment of how tens of billions of dollars have been spent since 2001. The 111-page report, obtained by The Associated Press, documents poor management, weak oversight, and a failure to learn from past mistakes as recurring themes in wartime contracting."

Ah, yes: the miracle of the market!
- Private enterprise is inherently efficient
- No need for oversight... No-bid contracts will work like a charm
- No patriotic company would ever give us anything but the very best

Quoting Karl Rove:

“I know lots of stupid people who went to Ivy League schools.”

Yes, Karl, I bet you do... I can name one of 'em!