President's Business Partner Slices Up Iraq

Good guy muckraker Greg Palast on James Baker's Iraqi debt restructuring:

We are talking about something called "sovereign debt." And unless George Bush has finally 'fessed up and named himself Pasha of Iraq, he is not their sovereign. Mr. Bush has no authority to seize control of that nation's assets nor its debts.

But our President is not going to let something as trivial as international law stand in the way of a quick buck for Mr. Baker. To get around the wee issue that Bush has no legal authority to mess with Iraq's debt, the White House has crafted a neat little subterfuge. The official press release says the President has not appointed Mr. Baker. Rather Mr. Bush is "responding to a request from the Iraqi Governing Council." That is, Bush is acting on the authority of the puppet government he imposed on Iraqis at gunpoint.

I will grant the Iraqi "government" has some knowledge of international finance; its key member, Ahmed Chalabi, is a convicted bank swindler.

The looting continues. Click here.

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