Sept. 28, 2004 - 20:15 MDT

THE WONDERING JEW

After The Fact

Wonder what the results will be on this. Article by Desmond Butler of the Associated Press in today's Rocky Mountain News, in part:

Banks turns over records in oil-for-food inquiry

"NEW YORK -- Congressional investigators are trying to determine whether lax monitoring at a French bank that held more than $ 60 billion for the U.N. oil-for-food program facilitated illicit business deals by the former Iraqi government, officials told the Associated Press."

"Although BNP Paribas isn't the target of the probe involving companies and individuals in 50 countries, a "semitrailer truck load" of subpoenaed documents could provide a road map to alleged corruption at the United Nations and by politicians from France, Russia, Britain, Indonesia and Persian Gulf states who have been implicated."

"The three congressional panels that subpoenaed BNP Paribas documents are looking into whether the bank met minimum standards that require financial institutions to indentify customers, partly to prevent money laundering."

"The committees are among at least five in Congress investigating allegations of U.N. corruption and reports that Iraqis skimmed billions of dollars in kickbacks through deals administered by the United Nations."

Investigators also are pressing for information from the Federal Reserve Bank of New York, which is responsible for regulating foreign banks operating in the United States."

"The United Nations largest humanitarian aid program from 1996 to 2003, when it ended, oil-for-food was designed to allow the former Iraqi government to sell limited amounts of oil in exchange for humanitarian goods as an exemption from sanctions in place since 1991."

"The BNP bank, which held the escrow account through which all of the U.N. programs oil money flowed, maintains investigators sought its documents as evidence targeting other companies and individuals. But several congressional panels say the bank also is under scrutiny."

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In a sidebar the Congressional probes are as follows:

1. - Sen. Norm Coleman, R-Minn., chairman of the Senate Government Affairs Permanent Subcommittee on Investigations

2. International Relations Committee, led by Rep. Henry Hyde, R-Ill.

3. - Committee on Government Reform Subcommittee on National Security, Emerging Threats and International Relations, chaired by Rep. Christopher Shays, R-Conn.

4. - Committee on Energy and Commerce, chaired by Rep. Joe Barton, R-Texas.

5. - Committee on Appropriation Subcommittee on Commerce, Justice and State, the Judiciary and Related Agencies, chaired by Rep. Frank Wolf, R-Va.

Also mentioned in the article is, "BNP, has offices in New York."

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My opinions: one is that I sincerely hope the investigations are longer and deeper than the titles of the Republican led probers . . . . . .

Maybe I am a paranoid weenie, but to me that oil-for-food scheme seemed to me to be a sop for the PC types. It blows my mind that our government felt that the Iraqi government would be fair and above board and was truly concerned about its children, aged and sick. Also seemed to me that the program needed to be more closely supervised all along.

My thoughts on the integrity of the U.N. as a whole are rather grim too. Especially since they have been putting the foxes in charge of the henhouses.

The Iraq top dogs that were aren't in charge anymore, the scenery over there has changed and is getting changed/churned more and more as things progress from bad to worse. So as far as Iraqi misdealings are concerned not much to consider there. But perhaps culprits in the U.N. and other countries will be nailed ---- a bit After The Fact . . . . . . . .

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