A favorite quote from today’s New York Times article on Qusay’s $1 billion cash withdrawal from his dad’s personal bank:
“Sometimes they [the Hussein kids] would come in for small amounts, maybe $5 million,” the official said.
One of the theses of my Israel Essay is that every Third World kleptocrat has a doppelganger among the managers of America’s public corporations. Derrick Jackson identified Qusay’s counterparts as the CEOs of American defense contractors in this Boston Globe editorial. Here are some comparisons from the article:
“… the average army private in Iraq earns about $20,000 a year, the average CEO among the 37 largest publicly traded defense contractors made 577 times more money in 2002, $11.3 million.
“Since 2000, the 37 defense contractor CEOs … have taken home $1.35 billion. That may not be Bill Gates, but it still means that just 37 men have made enough money in the last three years to, for instance, pay for two years of running the Boston public schools.
(Despite the Federales’s fondness for buying weapons and applying them to recalcitrant foreigners, the shareholders of defense contractors aren’t doing especially well, as evidenced by this five-year comparison of the infamous Halliburton versus the S&P 500, or consider Northrop, Lockheed, and Raytheon. But if there is pain among the employees or owners it is not being shared by the top managers and Board members…)