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Hiding Holes in Financial War on Terrorism. (Political Notebook)

By: Dettmer, Jamie | Insight on the News, March 25, 2002 | Article details

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Hiding Holes in Financial War on Terrorism. (Political Notebook)


Dettmer, Jamie, Insight on the News


Treasury Secretary Paul O'Neill lauded in February the close cooperation now under way between the United States and the European Union in efforts to cut off terrorists from their sources of funding. He cited as an example an order issued to U.S banks to block assets of 21 people identified as members of the Basque group ETA, which has mounted a violent separatist campaign in Spain since 1968.

The collaboration that gave rise to the information that led to the order "symbolizes a new and extremely important chapter in the financial war against terrorism," O'Neill said. The wire agencies and some newspapers dutifully carried the story, but failed to question whether the emperor is as fully suited as one would hope for a financial war against terror.

Immediately on the heels of the …

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