Right Thinking From The Left Coast
"To what purpose are powers limited, and to what purpose is that limitation committed to writing,
if these limits may, at any time, be passed by those intended to be restrained?"
-- Chief Justice John Marshall, Marbury v. Madison, 1803

Friday, December 17, 2004

Fuggeddaboutit
by Lee

Here’s the latest chapter in the blood for oil story.

The Bush administration has agreed to write off Iraq’s debts to Washington of $4.1 billion, racked up during the regime of Saddam Hussein.

The debt write-off accord was signed in Washington on Friday by U.S. Secretary of State Colin Powell, Treasury Secretary John Snow and Iraq’s Finance Minister Adel Abdel Mahdi.

“The signing of the debt cancellation agreement is the bilateral agreement that implements the United States’ part of the Paris Club debt-reduction agreement reached Nov. 21, 2004,” a State Department statement said.

“In fact the United States will go beyond the 80 percent reduction agreed at the Paris Club and forgive 100 percent of the $4.1 billion Iraq owes the United States ...” it said.

Iraq owes the Paris Club nations some $40 billion, about one-third of the country’s foreign debt.

There you go, France.  Now, show us how compassionate you are by doing the same.  You too, Russia and China.  You were the shining white knights of peace and love, let’s see you act like it.

Posted by Lee on 12/17/04 at 03:47 PM in War on Terror/Axis of Evil  • (1) Trackbacks • Permalink • Discuss this in the forums
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