The Italian Job

Lahoud summed it up better than most. Speaking to the cabinet during a discussion on the EDL file, the exasperated president turned to the ministers and raised his arms. “What do you expect me to say when you tell me that $3 billion has gone missing from EDL. I am speechless.” EDL is indeed in a miserable state. It continues to be riddled with corruption, wasteful spending and mismanagement. By this summer, the company was in debt to the tune of $950 million with little to show for $1.5 billion of government investment. Since 1992, it has lost over $600 million in uncollected bills and another $230 million to illegal connections and technical problems. Things could hardly get worse – or could they? In August, it emerged that arch-wheeler dealer Ahed Baroudi publicly admitted to bribing public officials on all levels and on numerous occasions to secure lucrative contracts worth