Polemics & Exchanges

On the Banks That Benefit

I found Andrea Crandall’s “Serbia in Our Own Image” (Correspondence, July) very informative.  Her article brings to mind two subsidiary points.

Why has the U.S. bombing in Iraq destroyed much of the infrastructure of the country?  This, to me, seemed unnecessary if the aim of the war was merely to defeat the enemy.  Applying Miss Crandall’s analysis of Serbia to Iraq, one could interpret it to mean that our bombing was designed to make it possible to hand out tax-guaranteed loans to favored banks in order to rebuild or buy up the infrastructure that we had destroyed—and, incidentally, to enable them to buy up any remaining competition in order to control the country’s politics.  Miss Crandall does mention that Larry Summers and Paul Wolfowitz were involved.

Is Iraq a repeat of the disastrous “privatization” in Russia that permitted the oligarchs to gain control of much of Russian industry and infrastructure?  Apparently, privatization and modernization are covers for tax-guaranteed loans so that international financiers can use taxpayer dollars to buy up a country’s infrastructure and thereby control a new order.

        —Monty Baltas
Alexandria, VA

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