Iraq's oil-based debt plan wins support

[DuctapeFatwa]

Iraq's Governing Council looks set to approve a US-backed plan to borrow $US1.4 billion ($NZ2.05 billion) from international banks to help rebuild the country's oil industry, politicians familiar with the plan said at the weekend.


Revenue from Iraqi oil sales will guarantee the loan, which could be Iraq's first post-war sovereign debt, issued by a US-led banking consortium as Iraq's political future and prospects for stability remain unclear.

http://www.stuff.co.nz/stuff/0,2106,2830069a13,00.html

[FloridaPat]

1. OK, I should be screaming bloody murder about this because

I have a sneaky feeling we the tax payers are going to get screwed somewhere here and the republicans are going to get a lot of money. And you can bet the Iraqi people are going to get the short end of the stick too. No one else is going in there for business because the insurance companies won't go in because it's too dangerous. There is no real government, so any contract can be declared null and void when and if a real government comes in.

So, what's the punch line???

[Crachet2004]

2. Loan them money, so you can own their asses...

would be my guess. The banks and oil companies are gonna trot out every wornout trick in the book to take control of the oil.

And yeah we will spend a ton of taxpayer money enabling it (already have), blood too-then some desert holy man will rise up and run us off.


Greed, nothing but greed.