Volcker, Meyer to discuss 'oil-for-food,' Sept. 28
Posted September 20, 2006; 05:36 p.m.
Princeton alumnus Paul Volcker and Jeffrey Meyer, both former members of the United Nations Oil-for-Food Independent Inquiry Committee, will speak at 7 p.m. Thursday, Sept. 28, in Dodds Auditorium, Robertson Hall.
Their lecture, titled "Reform at the United Nations? Lessons From the Oil-for-Food Program in Iraq," is sponsored by the Woodrow Wilson School of Public and International Affairs.
Volcker, a member of the class of 1949 and former chair of the Federal Reserve, chaired the U.N. committee, which was appointed by Secretary-General Kofi Annan in 2004 to investigate possible corruption in the Iraqi Oil-for-Food Program. Meyer, an associate professor of law at Quinnipiac University, is former senior counsel to the committee.
After Iraq invaded Kuwait in 1990, the U.N. Security Council put in place a set of sanctions to isolate the regime in Baghdad. To mitigate the negative consequences on the civilian population, the council set up the Oil-for-Food Program, which allowed Iraq to sell its oil and use the major portion of the revenues to purchase food and other humanitarian relief supplies.
In a report issued last October, Volcker's committee said that more than 2,000 companies that did business with the U.N. program were involved in bribes and kickbacks that allowed Saddam Hussein's regime to divert nearly $2 billion.