Haven't we done enough to them?

Iraq takes banking advice from Citibank.

Beyond education and culture, in the field of economy and services, it’s worth noting that representatives of U.S. banks, JP Morgan and Citibank and others came to Baghdad on January 28th, participated in an international banking conference that explored correspondent banking relations that would deepen commercial ties between Iraq and the international community, business community.

What, we couldn't fly over Bear Sterns or Lehman Brothers executives to provide financial advice? I'm sure Warka will be well schooled on how to become a shambling zombie that needs complete nationalization in order to survive. On the bright side, if the Iraq economy suffers and economic crisis as a result of their now assuredly incompetent banking system, there's not vary far to fall to hit rock bottom. At least Iraq has a surplus running.

Hopefully Warka Bank will be able to run some credit default swaps and trade derivatives to really pump up it's 'value' so it'll be too big to fail. I would like to report that there is no truth to the rumor that 'Warka' translates to 'Citi' in English. It's just an ancient Mesopotamian name of a city that was totally not destroyed by a financial or banking crisis or war brought on by the same.