U.S. companies put little capital into Iraq

[PfcHammer]

http://www.msnbc.msn.com/id/4982524

U.S. companies put little capital into Iraq
Many firms interested but held back by security concerns

By Ariana Eunjung Cha and Jackie Spinner
Updated: 12:26 a.m. ET May 15, 2004

BAGHDAD - Commerce is thriving on Saddoun Street again, and its storefronts have the feel of a global bazaar. Glossy billboards show off electronics from South Korea. Vendors hawk cell phone service from Egypt. Corner groceries stock ice cream from the United Arab Emirates.

Conspicuously absent: U.S. brands.

Postwar Iraq was supposed to be a bonanza for American companies. The Commerce Department hosted a series of conferences attended by thousands who dreamed of investment opportunities promised by a free Iraq. The administration characterized the more than $21 billion Congress allocated to the reconstruction as a down payment, an initial investment that would spark the economy and bring riches to the Iraqi people as well as American entrepreneurs.

The reality a year after President Bush declared the end of major combat is far different.

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[leesa]

1. Too bad. the greedy US corporations didn't cash in on their

murderous schemes. Tsk,Tsk.

[Tellurian]

2. Another Failure for Bush... corporattis musn't be too happy w/stocks!

Bushey will be frowned upon by his chief campaign financiers.

More excuses, more broken promises, needs more $$$$..

I wonder if he's noticed yet, the name of the ship he's sailing is the USS Titanic?

[struggle4progress]

3. Wadda surprise!

"Postwar Iraq was supposed to be a bonanza for American companies."

It has been. It's true that the corporate profits are all coming from American taxpayers, and not from risky investment, but it's been a bonanza nevertheless.

[SharonAnn]

4. And as soon as Iraq is "sovereign", they can privatize everything

That was their real goal all along. They'll sell of all the infrastructure and assets to the Bush cronies.

Then Iraqis can find out the joys of a privatized water system, with pricing by Enron. And other scamms will be implemented, you can be sure.

[struggle4progress]

5. Agree with you completely about their objectives. eom