December 6, 2003
TELL THEM TO COLLECT IT FROM SADDAM:
Bush Sending Baker to Iraq to Deal With Its Debt Problem (MARIA NEWMAN, 12/05/03, NY Times)
President Bush named James A. Baker III, the former secretary of state, as his personal envoy to Iraq today to help the country grapple with its debt problem."Secretary Baker will report directly to me," Mr. Bush said in a statement, "and will lead an effort to work with the world's governments at the highest levels, with international organizations and with the Iraqis, in seeking the restructuring and reduction of Iraq's official debt."
The White House press secretary, Scott McClellan, said the president made the appointment in response to a request by the Iraqi Governing Council.
In his statement, Mr. Bush said that "the future of the Iraqi people should not be mortgaged to the enormous burden of debt incurred to enrich Saddam Hussein's regime."
"This debt endangers Iraq's long-term prospects for political health and economic prosperity," Mr. Bush said. "The issue of Iraq's debt must be resolved in a manner that is fair and does not unjustly burden a struggling nation at its moment of hope and promise."
Posted by Orrin Judd at December 6, 2003 10:59 AM
The debt is odious by definition and should be entirely repudiated, not just for the good of the Iraqi people, but so that folks stop lending to such regimes.
Baker's my man and this assignment's a perfect application of his ability. Have fun in France James ... and to Russia with love. Ride em cowboy!
Look, if the French believe that time and changes in government do not affect debt, there's a simple solution. Subtract the money Iraq owes France from the $12 billion France owes the USA from WWI and send us a check for the difference. Everyone's even.
But the debt is probably Chirac's retirement account.
Let's hope the US pushes forward with the Credit Lyonnais trial - it will put some teeth into all the yapping criticism about France over the past 2 years.
Posted by: jim hamlen at December 6, 2003 11:48 PM