Michael Yon

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Business in Iraq

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18 April 2009

It's the economy, stupid

Apr 16th 2009
From The Economist print edition

American investors attempt to spur Iraq’s private sector

In 2005 on a dusty road in Tuz, Iraq, an American solder was killed by a roadside bomb. His fellow soldiers soon discovered that the assassin was no hardened terrorist, but an unemployed father of six who had been paid $200 to plant the explosive. Such situations are not uncommon in Iraq, where high unemployment spawned many “economic insurgents”—often unideological Iraqis in need of cash, who became easy recruits. It was, in part, in response to examples like this that a trio of former military officers created the Marshall Fund, a private-equity fund making only non-oil investments in smallish firms in Iraq. “Without thriving businesses and the jobs they create, Iraq will never be stable,” says Dan Rice, who founded the fund along with Wayne Culbreth and Andrew Eberhart. Late last year it closed on its first investment, a tomato-processing plant in the northern region of Harir.


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Marchall Fund
Having worked on a PRT in Iraq, I feel somewhat qualified to say that The Marshall Fund may be one of the single most obvious wastes of money in theatre. This is an organization that essentially props up totally incapabable Iraqi State Owned Enterprises (SOEs) with absolutely no tangible results. Lining the pockets of corrupt administrators at failing (or failed) businesses may not be in the US Taxpayer's best interest.
Nick , April 20, 2009
Read the article !
NICK - The article in the Economist Magazine would indicate that the Marshall Fund is a PRIVATELY owned and operated Investment fund, that finds private investors (worldwide) to invest in privately owned and operated local Iraqi businesses. I don't see where the US Government or Taxpayers are in anyway connected with, or responsible for the operation of this particular endeavor. As well, since the fund is set up as a profit-making venture, the investors and fund officials will not be investing in failing SOE's and corrupt government controlled businesses. This not charity - it is an attempt to get Iraq back on it's feet economically speaking, and make the investors some money as part of the bargain.
STEVE , April 20, 2009
re: Marshall Fund
As in most cases like this, microlending can have far reaching effects. Even not so micro efforts. The fact is that once you have an entrepreneurial class Liberty springs from the surroundings. Not always, but most times.
Robohobo , April 21, 2009
Torture
There is an article in the NYTimes of the 22nd that you might want to read over in that it indicates from named high echelon sources that the 'torture' Obama decries died yield valuable information. Banned Techniques Yielded ƒ??High Value Information,ƒ?? Memo Says (Full, unedited memo released) NY Times ^ | 4/21/09 | Peter Baker Posted on Wednesday, April 22, 2009 7:03:45 AM by jimbo123 President Obamaƒ??s national intelligence director told colleagues in a private memo last week that the harsh interrogation techniques banned by the White House did produce significant information that helped the nation in its struggle with terrorists. ƒ??High value information came from interrogations in which those methods were used and provided a deeper understanding of the al Qaƒ??ida organization that was attacking this country,ƒ? Adm. Dennis C. Blair, the intelligence director, wrote in a memo to his staff last Thursday. -snip- Admiral Blairƒ??s assessment that the interrogation methods did produce important information was deleted from a condensed version of his memo released to the media last Thursday. Also deleted was a line in which he empathized with his predecessors who originally approved some of the harsh tactics after the attacks of Sept. 11, 2001. (Excerpt) Read more at nytimes.com ...
Dave Koenig , April 23, 2009
Torture
Here is some more information Mr. Yon you might want to research on as to 'torture's yielding. It was on Free Republic. Hayden: Chain of Interrogations Yielded Bulk of Intelligence Knowledge (60% of info on Al-Qaeda) Thursday, April 23, 2009 7:52:55 AM ?ú by tobyhill ?ú 17+ views fox news ^ | 4/22/2009 | Fox News Five years after the Sept. 11, 2001, terror attacks, 60 percent of the knowledge of the U.S. intelligence community about Al Qaeda, its leadership structure and its operations came from enhanced interrogation techniques. That's what former CIA Director Michael Hayden told FOX News late last year. Other U.S. officials told FOX News on Tuesday that they stand by a May 2005 memo that said that enhanced techniques used in interrogations "have led to specific, actionable intelligence as well as a general increase in the amount of intelligence regarding Al Qaeda and its affiliates." On Tuesday, President Obama's national intelligence director...
Dave Koenig , April 23, 2009
Asking for the email address or contact address of Marshall Fund Officers
Dear Sir, I am glad to know that there are enterprising individuals who wants to make Iraq a better place to live in, in terms of contributing to the non oil business in Iraq. We are interested to participate in their program, and we would appreciate if you can provide us with their email address, telephone numbers, the officials name of the people behind Mashall Fund, a private equity fund in Iraq. All the best, Fernando M. Sopot
Fernando M. Sopot , May 16, 2009

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