The Importance of Correlation in the Iraqi State

The crown jewels of the Iraqi state were actually in the central bank of Iraq. As soon as the invasion began, they flooded the central bank. They just opened all these spigots up and cajillion gallons was pumped into it. The greatest single email I think I ever got was from the deputy governor of the central bank  of Iraq. He thanked me for helping us recover 4 billion euros, 4 billion dollars and I think it was like 45 billion Iraqi dinars. And as a result, we have been able to pay the entire Iraqi civil service for the months of April, May, June and July 2003 - because guess what? They keep in the bank.