US To Crack Down On "Terror Bankrolls"

USA Today:

The Bush administration announced a new tool Tuesday to freeze financial assets of those who want to destabilize Iraq.

President Bush unveiled a new executive order that allows the administration to block bank accounts and any other financial assets that might be found in this country belonging to people, companies or groups that the United States deems are working to threaten stability in Iraq.

Bush cited the "unusual and extraordinary threat" to national security and foreign policy of the United States "posed by acts of violence threatening the peace and stability of Iraq and undermining efforts to promote economic reconstruction and political reform in Iraq and to provide humanitarian assistance to the Iraqi people."

No person, company or group was designated under the order on Tuesday.

The order seeks to fill a gap in U.S. authority to use financial sanctions to go after such offenders.

Oh boy, there's a whole bunch of red flags on this one. Bank accounts IN THIS COUNTRY that are deemed to threaten the peace and stability of Iraq? What peace and stability? How many ways can you see this being abused?


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