A Less Tangible FailureFollow

Fiduciary 1. Law. A person to whom property or power is entrusted for the benefit of another.

Wikipedia - A fiduciary duty is the highest standard of care imposed at either equity or law. A fiduciary is expected to be extremely loyal to the person to whom they owe the duty (the "principal"): they must not put their personal interests before the duty, and must not profit from their position as a fiduciary, unless the principal consents

From April 21 2003 until June 28th 2004 the Coalition Provisional Authority held executive, legislative and judicial authority over Iraq. It held fiduciary responsibility while the ground work was laid to set up an democratically elected Iraqi gov't. They paid public employee salaries, maintained infrastructure, set policy etc.

Did they fail in their fiduciary responsibilities?

Paul Bremer and the CPA laid the frame work for the privitization of Iraqs publically held oil interests, and 200 other state owned businesses (Order 39) as well as allowing 100% foreign ownership, lengthy 40 year 'crown' leases, flat rates on oil taxation etc.

Cases of nepotism in important and well paying roles.

Dissolution of the Iraqi Army and De-Baathifcation, a move that his predeccesor refused and was removed from his position for but maintained his fiduciary role all the while.

The CPA also spent 20 billion dollars of Iraqi money. Up to 8.8 Billion dollars that passed through the ministry while the CPA was in charge has yet to be accounted for.

The CPA failed to meter oil shipments resulting in large amounts of oil revenue being lost. A job that was directly under Bremers responsibility.

Pre-emptive "The privatization of the oil industry is the cause of the current Iraqi economic boom" shoot down.

Unless gbaji cares to show that foreign investment in the oilfeilds is the reason behind the boom, as opposed to the lifting of sanctions and the oil for food program.