The State Department’s IG report in early 2005 noted that, “that Blackwater cited its profit from the contract as a cost it incurred, and billed the government for it — resulting in what the report called “a pyramiding of profit.”

This is the second most blatant bit of account theft that I have ever heard of, the first being a guy who noted change as an expense for a non-profit group called the MSR.

He did time, and so should the execs at Blackwater.