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| Syria-Lebanon | |
| Syria VP Discussing Return of Iraq Funds | |
| 2003-10-26 | |
| Syrian banks are holding Iraqi assets and there is discussion about returning them to Iraq’s control, Syrian Vice President Abdul Halim Khaddam said Saturday. "There is some (Iraqi) money and some (Iraqi) demands" to recover it, Khaddam said. "This matter is still under discussion." The vice president did not elaborate. "I can say no more please don’t kill me!! " The remarks came two weeks after Syrian Foreign Ministry spokeswoman Bushra Kanafani denied U.S. media reports that Syria had millions of dollars worth of Iraqi money. Kanafani told reporters on Oct. 11 that reports that Syrian and Lebanese banks were holding up to $3 billion worth of assets from Saddam Hussein’s regime were "baseless." Looks like somebody covered the bases! Ten days later, however, a U.S. Embassy official in Damascus said Syria was cooperating with the United States to see whether its banks hold any such assets. The official confirmed that an American team was in Syria to gather evidence about Saddam’s assets. He denied the reports that the assets amounted up to $3 billion in Syria and Lebanon.
Remind me, did Syria vote for that resolution? In May, Lebanon’s Central Bank said it had frozen millions of dollars in Iraqi funds and would return them to Iraq after a "legitimate" government is formed. The U.S. Treasury has said Lebanon has $495 million in Iraqi funds. That would keep Mr. Bremer going a couple of months. Khaddam spoke to reporters after meeting a delegation of Iraqis. | |
| Posted by:Steve White |
| #4 Prolly just the tip of the iceberg--the BIG bucks are probably in Zurich--where they know nothin' 'bout no Iraqi gelt |
| Posted by: NotMikeMoore 2003-10-27 12:06:38 AM |
| #3 use a rules system to pick the vendor, and then roll the accumulated excess cash in Commercial Paper overnight - made beaucoup profit on otherwise unused asset for 'em. Good heavens man... have you no conscience? More importantly... do you still have the code? |
| Posted by: Shipman 2003-10-26 6:57:02 PM |
| #2 As a solo contractor in the 80's, I wrote EFT systems for a few US companies to consolidate excess cash above a set point from branch offices to the HQ office, poll the major banks for their rates and use a rules system to pick the vendor, and then roll the accumulated excess cash in Commercial Paper overnight - made beaucoup profit on otherwise unused asset for 'em. I shoulda worked on a percentage basis. But that was in the real world - poor Islam, gots no interest, no usury, no making money without beaucoup risk. Billions... gotta be painful. (sniff, sniff) Little Mike sure left them in a fix, eh? |
| Posted by: .com 2003-10-26 2:27:21 PM |
| #1 Syria's cooperation may partly be based on the fact that the funds aren't doing them much good. They can buy US T or Euro instruments and get a bit of interest but when they do that, they have to make out certain declarations that could be dicey. Investing it in arab enterprizes avoids that but such enterprizes frequently lose money and they would be at risk for making up the balance. |
| Posted by: mhw 2003-10-26 9:25:17 AM |