J.P. Morgan Chase to Run Iraq's Trade Bank, U.S. Says

Bloomberg ^ | 08-29-03

[Brian S]

Aug. 29 (Bloomberg) -- J.P. Morgan Chase & Co. has been selected to operate a bank the U.S. is creating in Iraq to manage billions of dollars to finance imports and exports.

J.P. Morgan, the second-largest U.S. bank by assets, will lead a group that includes 13 banks representing 13 countries to run the bank for three years, said Peter McPherson, the top U.S. economic adviser in Iraq.

[mabelkitty]

Good! Put those Iraqis to work!

[lelio]

So we're having the Iraqis go from one bank run by the state to one bank run by JP Morgan. Why have one bank run the financing for imports and exports? Let them all in there and compete.

This has politicial kickbacks written all over it.

[anniegetyourgun]

J.P. Morgan, the second-largest U.S. bank by assets, will lead a group that includes 13 banks representing 13 countries to run the bank for three years, said Peter McPherson, the top U.S. economic adviser in Iraq.

[Shermy]

This has politicial kickbacks written all over it.

Yep.

[anniegetyourgun]

Nobody reads anymore.

[lelio]

Thanks for pointing that out, I missed it.

[Digger]

..and I'm ranted on for calling this (& other administrations) corrupt.....

[dogbyte12]

This has politicial kickbacks written all over it.

It will be tough to find out all the subsidiaries that are giving out money from JP Morgan Chase. So far, I have found that Chase has given out two donations in the last 3 years. $50,000 to a 2001 President Bush fundraising dinner, and $50,000 to the National Republican campaign committee. That $100k is going to generate a lot of money in payback.

I am not just bashing the republicans here. The same thing happened under Clinton. This administration is filled with politicians, they are that first before ya even need to look at the (R) after their name. It's all about the money.

[Lessismore]

David Rockefeller is still around?