Monday, February 15, 2010

It's A Go:The Front Organizations for U.S. Oligarchs Have Been Established in Abu Dhabi

The latest news from our traveling Deputy Treasury Secretary appears to be that the skids have been greased in Abu Dhabi and front organizations have been identified. The code words for raping taxpayers, "cooperation between the public and private sector," have been spoken. In other words, it's time for Carlyle Group founder David Rubenstein to call his office.

Treasury reports:

Within the framework of developing the small and medium enterprise (SME) sector as a strategy to drive economic prosperity, Deputy Treasury Secretary Neal Wolin met today with representatives from leading Abu Dhabi organizations spearheading initiatives that encourage and support United Arab Emirates (UAE) citizens to pursue meaningful private sector employment opportunities.

The open dialogue gave Deputy Secretary Wolin the opportunity to learn how the government is working to create greater understanding, cooperation and engagement between the public and private sectors of the emirate of Abu Dhabi to deliver a long-term and valuable contribution to the economic growth and enterprise base of the country.

Among the representatives at today’s dialogue were HE Waleed Al Mokarrab, Director General, Abu Dhabi Council for Economic Development; HE Abdullah Al Darmaki, General Manager, Abu Dhabi Tawteen Council; HE Khuloud Al Nuwais, Director of Projects, the Emirates Foundation; and Mr Ibrahim Ahmed Al Mansoori, Deputy CEO, the Khalifa Fund for Enterprise Development.

“Abu Dhabi is showing impressive leadership in preparing its society to compete in the international workforce,” said Deputy Secretary Wolin. “Abu Dhabi’s private sector development goals are ambitious, but achievable through initiatives driven by organizations such as Tawteen, the Council for Economic Development and the Khalifa Fund.”
The Treasury even provides us deatils on these organizations that will distort free markets to such a degree that Karl Marx may have to be revived to write a sequel, The Capitalism I Knew:

The Abu Dhabi Council for Economic Development (ADCED) was established in May 2006 to act as an economic policy advisory council and facilitate economic diversification and growth through creating greater understanding, cooperation and engagement between the public and private sectors of the emirate of Abu Dhabi.

The Abu Dhabi Tawteen Council is a government entity established in December 2005 to offer quality Emirati job seekers to Abu Dhabi companies to suit the demands of their businesses as well as form the foundations for sustainable growth in the long run.

The Khalifa Fund was established to support and assist UAE citizens to enter into private businesses, thus fulfilling socio-economic goals for a more competitive and sustainable economy.

The Emirates Foundation Tawteen Initiative is a major strategic initiative that helps equip Emiratis with the mindset and relevant skills for future private sector employment in the UAE and in the global economic market.

Folks, government partnership with the private sector is simply a contradiction in terms. It's kind of like Jesse James announcing that he has reached an agreement with banks and they have worked out a solution as to what to do with the hard earned money they want you to continue to deposit.


  1. ...Karl Marx may have to be revived to write a sequel, The Capitalism I Knew...

    I laughed out loud at that part, and my 5-year-old came over and said, "Who was being silly?"

    "Robert Wenzel."

  2. A UAE news report had the following:

    The U.S. official expressed concerns about Iran nuclear issue amid lack of progress over the issue, but noted that "we have to engage Iran in constructive way. We tell Iran that any nuclear proliferation is unacceptable". About the U.S. economy, he said "it is showing signs of recovery, but there are still challenges in regard to jobs" adding that "we have to work together to achieve sustainable global economy growth". Deputy Secretary Wolin’s visit to Abu Dhabi is part of an eight day trip, which also includes visits to Afghanistan, Pakistan, Saudi Arabia and Kuwait. Throughout his trip, the Deputy Secretary is meeting with senior government officials, regulators, and members of the private sector to discuss a range of issues including stabilising and growing regional economies, the development of clean energy jobs and sustainable energy resources, and improving the security of the financial system.

    I thought the Obama administration wanted America to be the world leader in clean energy jobs.

  3. Did Neal talk with Abu Dhabi leaders about their Citibank lawsuit? How much money will Uncle Sam throw to settle that fraud suit?