Re: No, No, No! It FLEW OVER THE PENTAGON was Re: The Pentagon Fraud Explained In Simple Terms

For whom the war? Follow the .... : J. P. Morgan Selected to Run New Trade
Bank in Ira


Takpayers money  (in current taxes -- but more in your inescapable increased
debt (both your governments and your own personal debt which must increase
for everyone however spread around among us!! payable at compound interest)
will provide the capital, but J.P. Morgan will handle the transactions  -- 
it will be their connections, their favorite corporations and ventors their
network  who will be on the receiving side of all that is taken from us and
our children down the road  -- but of course if your son or daughter dies in
the battlefield he or she will not have to pay a penny -- a saving for them
of thens of thousands over a lifetime of interest payments.

Are you ready to kick out these criminals called Democrats and Repbulicans.

-- Dick Eastman

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J. P. Morgan Selected to Run New Trade Bank in Iraq

By BLOOMBERG NEWS

http://www.nytimes.com/2003/08/30/business/30BANK.html

J . P. Morgan Chase has been selected to operate a bank the United States is
creating in Iraq to manage billions of dollars to finance imports and
exports.

J. P. Morgan will lead a group that includes 13 banks representing 13
countries to run the bank for three years, said Peter McPherson, the top
United States economic adviser in Iraq.

Operating the bank, the Trade Bank of Iraq, will give banks access to the
financial system of Iraq, which has huge oil reserves; foreign bank
companies have not operated in the country since a policy of nationalization
in the 1950's and 1960's. Yesterday's announcement came on the day a car
bomb killed a top Iraqi cleric and at least 82 others, underscoring the
danger of having a presence in the country.

The trade bank will serve as an intermediary for Iraqi government agencies'
purchases of equipment and supplies from companies based outside the
country, Mr. McPherson told reporters in Washington in a

conference call from Baghdad.

As private enterprise becomes more important, Iraqi companies will also use
the bank to support trade.

An Iraqi, most likely from a government ministry, will be selected to run
the bank. "We expect an Iraqi to be the chief executive officer and most of
the employees will be Iraqi," Mr. McPherson said. J. P. Morgan will train
bank employees.

The trade bank will start with $5 million in cash and a $95 million line of
credit from a fund controlling Iraqi oil revenue operated under the auspices
of the United Nations, Mr. McPherson said. Final details of the contract are
being negotiated, with a signing anticipated in September.

A total of 58 banks expressed interest for a contract that will yield "a
very few million dollars" in fees to the winning consortium, Mr. McPherson
said. The J. P. Morgan group was chosen because it was judged to be able to
run a "high- quality, cost-efficient" operation, he added.

"We are pleased that the Coalition Provisional Authority has selected the J.
P. Morgan consortium to help establish and operate the trade bank in Iraq,"
said Joseph Evangelisti, a J. P. Morgan spokesman. "This is a critically
important assignment."

Along with J. P. Morgan, other members of the winning bank group are the
Australia and New Zealand Banking Group, Standard Chartered, National Bank
of Kuwait, Bank Millennium, Bank of Tokyo-Mitsubishi, San Paolo IMI, Royal
Bank of Canada, CrÈdit Lyonnais, Caja de Ahorros y Pensiones de Barcelona,
Standard Bank Group, Akbank TAS and Banco Comercial Portugues.