underdog Posted August 3, 2003 Banks in the Cayman Islands have transferred US $140 million in frozen Iraqi assets to the U.S. Federal Reserve, the British territory's government said. The money's transfer was confirmed Monday by Assistant Financial Secretary Deborah Drummond. She said the funds were turned over by various U.S. banks with branches in the Cayman Islands to the Federal Reserve Bank of New York in March. U.S. officials couldn't immediately confirm whether the money had gone into the new Development Fund for Iraq. Couldn't immediately confirm? Isn't that something that would have been decided before the transfer took place? :confused: Besides what authority does the Federal Reserve have in a matter between Iraq and the US Government. ( Things that make you go Hmmmmmmm) Quote Share this post Link to post Share on other sites
