‘how the u.s. pulled off a major freeze of libyan assets’

Washington Post: The Treasury Department team had been working nonstop on a plan to freeze Libyan assets in U.S. banks, hoping they might snare $100 million or more and prevent Moammar Gaddafi from tapping it as he unleashed deadly attacks against protesters who wanted him gone.

Now, at 2:22 Friday afternoon, Feb. 25, an e-mail arrived from a Treasury official with startling news. Their $100 million estimate was off — orders of magnitude off. The e-mail said there was in “excess of $29.7 Billion — yes, that’s a B.” And most of the money was at one bank.

It was a piece of extraordinary good fortune for the Obama administration at a crucial moment in the efforts to address the bizarre and deadly events unfolding in Libya.

Never before had U.S. officials so quickly launched economic sanctions affecting so many assets of a targeted country.

The frenetic 72 hours leading up to the Executive Order 13566 illustrate how a process of identifying and freezing assets — something that customarily has taken weeks or months — has become one of the first tactical tools to employ in the midst of fast-breaking crises.

It also shows that government officials have learned from other recent economic sanction efforts, including against Iran and North Korea. Instead of being a secondary measure, as in the past, economic sanctions have become a centerpiece of national security policy.

Full article here


Thank you so much for this link, Majii – the article is absolutely fascinating, and shows just how damn smart the Obama administration is.

14 Responses to “‘how the u.s. pulled off a major freeze of libyan assets’”

  1. 1 Hachikō
    March 23, 2011 at 10:07 pm


  2. 2 Soldier*1
    March 23, 2011 at 10:09 pm

    This is why I don’t lose faith with this admin.

  3. 3 CEB
    March 23, 2011 at 10:20 pm

    Kick Ass, Mr. President !

    The man with the plan. When will his critics learn.

  4. 4 Ladyhawke
    March 23, 2011 at 10:21 pm

    This just blows me away. Absolutely riveting reporting.

  5. 5 cat48
    March 23, 2011 at 10:42 pm

    Indeed, this is brillant! Now we can use the money to run Operation Odyssey Dawn against Gaddafi! I kid, I kid. Cause you know since Kucinich is making it his mission to defund the president’s war! Cause no one else wants to Impeach president Obama in the House, so they’ll just take away his war. Idiots!

  6. 6 africa
    March 23, 2011 at 10:54 pm

    3, 2, 1, poutrage from the predictable corners. How will Newt square this one? This Administration does its job like it is supposed to and that confuses the hell out of the naysayers.

    And these are people the media have deemed brillant. Go figure.

  7. 7 EDP4BHO
    March 23, 2011 at 11:14 pm

    This is I guess good news, but for whom? I am needing this all to work out so that the administration doesn’t have to take a fall for screwing up a military offensive yet again. I am needing to read the take of other African nations on Gadaffi (Lord knows, what is the right spelling of his name somebody?). America is not trusted very much in that region of the world, and it would do us all good to know that this indeed was the best thing to have happen. Praying here.

  8. 8 Dorothy Rissman
    March 24, 2011 at 12:11 am

    Chipsticks, I really hate to keep bragging about you, but you truly are hot. I feel that I am getting so much information from this site. I read and comment on about seven sites every day. I love them all, but you are offering information that i am not necessarily seeing else where. You are the news woman, girl. I love my BWD and TPV and you. You have a different approach that keeps me informed about day to day activities.

  9. 9 Sonjia Duncan
    March 24, 2011 at 12:40 am

    I have gotten to the point that when people second guess this President and his team my mind just says, “Oh, Please. You have no idea” He is like one professor I had that if you ask a question, he could talk for a week about it. This man is too brilliant to just be a President, he is a master problem solver.

    Chipsticks thank you so much for feeding this news junkie. I really miss staying up late at night with my late husband just talking about what was going on in the world.

    • March 24, 2011 at 12:51 am

      Sonjia, I can’t even imagine your loneliness after the loss of your husband, it’s five years since my father died and my mother’s pain, despite all her bravery, is still the saddest thing imaginable. You’re truly great to battle on with such spirit, an inspiration.

  10. 11 barb
    March 24, 2011 at 2:44 am

    I just love all of you who post here. Not only do we get the news noone else has but there are friendships across the internet being forged.

    Sonjia I am sorry you lost your soulmate husband and Chips I truly feel for you loosing your father and the pain your mother is going through. I can relate since I lost my husband to Agent Orange from Vietnam a few years ago and lost a 20 year old son to a drunk driver. We are all surviving though and I think it makes us all more compassionate in relating to others pain. We’ve got to stay strong for our President since we are so blessed to have him.

  11. 13 Shirley
    March 24, 2011 at 4:27 am

    I can Imagine the feeling of missing your close love ones, I feel you, and I say to you, just take one day at a time, my Friends, one day at a time. It’s okay to reflect your fond memeories, just don’t linger too long, but by all means, I think It’s okay to reflect. Take care, and have a great one 🙂

  12. 14 majii
    March 24, 2011 at 12:16 pm

    I know what it’s like to lose loved ones. It’s very hard to deal with. I know this because I lost my beloved brother who lived with me last month. I keep in my mind and heart all of the great memories of them and myself when we were able to do things together, and it helps. I will be praying for everyone in this community who is still grieving for their loved ones who have passed.

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