You are probably doing something wrong if Saddam Hussein’s son-in-law, Hussain Kamil Hasan, head the Iraq Ministry of Industry and Military Production, sent you a telex “on the occasion of the Easter festivities” wishing you “happiness good health and prosperity.” The bank BNL Atlanta –where Kasan sent the well wishes– certainly was.
The Atlanta branch of Banca Nazionale del Lavoro (BNL) approved over 4 billion in unauthorized loans to Iraq between 1984 and 1989. Much of it was used for Iraq’s military. The Washington Post described BNL Atlanta as, “Iraq’s principal source of credit in the United States…during the time Iraq was at war with Iran, cash-starved and considered a risky debtor.”
BNL employees kept records of these transactions in hidden computer files they called “gray books.” Written records were not kept in filing cabinets. Instead, they were stored in car trunks or homes. Iraqis gave one BNL employee a diamond necklace. Another employee had his rent on a summer cottage paid for. (more…)
