Bush Veto and the Economy
They will be denied this right because President Bush has acceded to Baghdad’s objection to allowing the suits to proceed because the regime of Nouri al-Maliki might be found liable for the mistreatment as the successor to Saddam Hussein. Specifically, al-Maliki threatened to remove $25 billion in Iraqi funds from U.S. banks to preclude seizure of the assets in the event of an adverse judgment in a trial.
Does not this cave-in by the White House bespeak something else – the precarious state of the U.S. economy? In a $13 Trillion economy, $25 million is chump-change.
What is the Treasury, the Federal Reserve, the Bush administration hiding?