Bloated state banks feed corrupt economic system: critics
(NEWSER) - Eight years after the US invasion, Iraq still lacks reliable electricity, postal service, public transport, you name it. But many of these problems are fueled by a corrupt banking system that rejects market economics and funnels money to scams and greedy government officials, McClatchy reports. The worst offenders, critics say, are two bloated state banks with fraudulent balance sheets. "We have deficient people here, sitting in certain high posts, who cannot create any economic vision," says one official. More»
