No War, For ... eh... Desmarais

A follow-up to this post on the UN oil-for-food involvement by UN Deputy Secretary-General, Canadian Louise Frechette.

Canada Free Press

It appears the impartiality and credibility of the Volcker Committee's Investigation into Oil-for-Food is growing grim, exacerbated by Fréchette's troubling actions during the Oil-for-Food Program, and her colliding work history with investigators and possible defendants.

According to Fox News, "When [Louise] Fréchette served as Canada's ambassador to the United Nations from 1992 to 1995, her boss during most of that time was Canadian Deputy Minister Reid Morden, who is now executive director of the Volcker team." Fréchette's current boss, Kofi Annan appointed Paul Volcker, to investigate the UN's Oil-for-Food Program. The Volcker committee and Reid Morden have "no comment" at this time concerning Fréchette.

After leaving her first post at the United Nations, Louise Fréchette returned to Canada serving from November 1994 to June 1995, under then Minister of Finance Paul Martin, as his Associate Deputy Minister. Paul Martin held Canada's Minister of Finance position from November 1993 until June 2002, becoming Canada's 21st Prime Minister on December 12, 2003. Together, in 1995, Martin and Fréchette worked on several issues including the Halifax G-7 Summit, and participated in the "Standing Committee on Foreign Affairs and International Trade." Inquiries to Prime Minister Martin's office were not answered as of press time.

Louise Fréchette joins the illustrious Canadian connection in the UN Oil-for-Food Program, where there is her former boss, Prime Minister Martin who replaced Prime Minister Jean Chretien. Jean Chretien's daughter, France is married to Andre Desmarais, the son of Paul Desmarais. Desmarais is the chairman and Co-Chief Executive Officer of Canada's Power Corporation, and the largest shareholder and director of France's TotalFinalElf. TotalFinalElf was one of the largest benefactors of Oil-for-Food contracts. According to the Financial Post, "In 1974, Desmarais, Sr., made Martin president of Canada Steamship Lines and then in 1981, he made him spectacularly rich by selling the company to him and a partner for $180 million." As CFP previously reported, Canada, the seventh largest contributor to the United Nations, will not investigate the Oil-for-Food Program.

Today, Kevin Libin at the Shotgun picks up the Desmarais meme;

On the China watch, we have the National People's Congress passing "a new law that could provide the basis for an attack on the island [Taiwan]." Also note that Beijing Clamps Down as Parliament Delegates Gather. Then, China proposes massive military spending hike. Just days before we have the EU announcing their stance on ending the arms embargo with China.

So, for absolutely no reason, let's flash back to Nov. 26, 2003 when we see BNP Paribas--European--officially opening in China as the first foreign-owned enterprise bank. (BNP Paribas, you might recall, is the bank that handled Saddam's oil-for-food money, now under investigation for possible improprieties in that scam.)

So you've got potential domestic unrest, a possible nationalistic target for a fascist government to redirect that unrest, an arms build-up, a willing foreign arms supplier, and a bank the supplier and the buyer both trust. Let's get down to business.

Kevin's post is rich with links - I"ll send you there to check them out. From an earlier post here on BNP Paribas;

BNP Paribas bank is part of a holding company, Pargesa Holding, which is jointly owned and controlled by the Frère and Desmarais families. Paul Desmarais Sr. is the chairman of the group, while Albert Frère is the vice-chairman. Gerald Frère, Albert's son, is one of three general managers who oversee day-to-day operations, and Paul Desmarais Jr. is also an officer.

Pargesa, and thus Power Corporation and the Canadian Desmarais family, holds a controlling significant stake in TotalFina Elf, the Belgian-French petroleum multinational corporation formed from the merger of Total and Petrofina.

Posted by Kate at March 4, 2005 2:58 PM