Jinn of Current Events (2003-Dec-02)

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2003-Dec-02

Of courage, integrity, and determination

President Bush delivered this Thanksgiving speech in Baghdad, to the US troops: We did not charge hundreds of miles into the heart of Iraq, pay a bitter cost in casualties, defeat a brutal dictator and liberate 25 million people only to retreat before a band of thugs and assassins.

Mapping where French and German banks do their business

WSJ: Follow the money is an old adage, and it means that economic interest will eventually explain much human behavior. That France opposed the removal of Saddam Hussein because he owed millions to French banks is proof of this. Less well known, but much more troubling, are key French financial links with other U.S. enemies. They raise the belief that the Franco-American conflict over Iraq was just one slice of the action. For France was not just Baathist Iraq's largest contributor of funds; French banks have financed other odious regimes. They are the No. 1 lenders to Iran and Cuba and past and present U.S. foes such as Somalia, Sudan and Vietnam.

This type of financing is shared by Germany, France's partner. German banks are North Korea's biggest lenders, and Syria's--and Libya's. But France is the most active. In Castro's sizzling gulag, French banks plunked down $549 million in the first trimester this year, a third of all credit to Cuba. The figure for Saddam's Iraq is $415 million. But these pale in comparison with the $2.5 billion that French banks have lent Iran. The figures come from the Bank for International Settlements (BIS) in Basel...

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