Uh, We’re Bragging About Sending Citibank to Help the Iraqi Banking Sector?

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Tuesday, March 10, 2009 at 12:31 pm

Former Defense Secretary Donald Rumsfeld once observed that if you can’t solve a problem, enlarge it. In that spirit, take a look at this press conference in Baghdad Sunday, and watch as U.S. Embassy spokesman Adam Ereli boasts about sending Citibank to Iraq:

Beyond education and culture, in the field of economy and services, it’s worth noting that representatives of U.S. banks, JP Morgan and Citibank and others came to Baghdad on January 28th, participated in an international banking conference that explored correspondent banking relations that would deepen commercial ties between Iraq and the international community, business community. Citibank has already established correspondent relationship services agreement with Iraq’s Warka Bank that allows clients of both banks to execute cash payments, wire transfers and trade transactions to both corporate and retail entities in all Iraq’s cities and provinces.

Yes, clearly Citibank is just the right institution to help the Iraqi banking sector become mature and responsible corporate citizens. I hear Warka Bank is too big to fail. Or, who knows, maybe J.P. Morgan can pull a Bear Stearns on it.

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Comments

9 Comments

anonymous
Comment posted March 10, 2009 @ 1:21 pm

You obviously know nothing about international banking. I am not a big fan of Citibank, however, the one thing the institution does possess is the largest operational infrastructure in the world. For correspondent banking, it allows Warka Bank to in essence piggyback onto that system. This is not about bank management or overall banking policy.


PoliTrix » Blog Archive » Iraqis To Get Banking Advice From Zombies
Pingback posted March 10, 2009 @ 2:22 pm

[...] Hat tip to the Washington Independent’s Spencer Ackerman, who wryly notes: “Yes, clearly Citibank is just the right institution to help the Iraqi banking sector become mature and responsible corporate citizens. I hear Warka Bank is too big to fail. Or, who knows, maybe J.P. Morgan can pull a Bear Stearns on it.” [...]


jerrydenim
Comment posted March 10, 2009 @ 1:51 pm

JP Morgan Chase and Citibank are both Rockefeller banking entities who are still helmed directly or indirectly by David Rockefeller, the man who cracked open China to the hungry Western financial interests, founded the CFR, TFR and other internationlist organizations responsible for the planning of the Iraq occupation/takeover. The activities and executives of both Chase and Citi have long been synonymous with the nefarious dealings of the IMF and World bank in third world countries. No other bank in the World symbolizes American imperialism like Chase, except for Citi which would be a close second. Who else did you expect? The Iraq 'client state' plan was theirs from the start.


jerrydenim
Comment posted March 10, 2009 @ 1:53 pm

Oh, its about policy alright.


anon
Comment posted March 10, 2009 @ 8:04 pm

well for what its worth, our Best and Brightest have been working six years now in a combat environment to stand up some American-style banks over there, to get that blessed plastic check card in the hands of every Iraqi, and they must have made a breakthrough and simply want to promote the folks who helped them make it happen. It's also extremely difficult to stay abreast of what's going on stateside when you're over there, and the staffer who wrote the ambassador's words probably doesn't realize the depth of fraud put on by our banks


Iraq takes banking advice from Citibank. | Dailycensored.com
Pingback posted March 10, 2009 @ 10:00 pm

[...] in Baghdad on Sunday, U.S. Embassy spokesman Adam Ereli boasted that the Iraqi banking sector is taking advice from Citibank: Beyond education and culture, in the field of economy and services, it’s worth noting that [...]


Anonymous #3
Comment posted March 11, 2009 @ 1:29 pm

The Iraq bank plan is this.
Pay the warlords with construction business's so they can say the surge worked. It doesn't matter if they actually build anything, just as long as the attacks stop.


Anonymous #3
Comment posted March 11, 2009 @ 8:29 pm

The Iraq bank plan is this.
Pay the warlords with construction business's so they can say the surge worked. It doesn't matter if they actually build anything, just as long as the attacks stop.


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