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Monday, January 17

Paul Desmarais in Oil-for-food Scandal

: "op among these is the European-based BNP Paribas bank, which the U.N. chose to administer the program and which reportedly received nearly $1 billion for its efforts. Congressional investigators reviewing the bank's actions have discovered broken rules, missing documents and improper transfers by BNP Paribas, which up until now has been assumed to be a French bank.

In fact, BNP Paribas is actually controlled by Power Corporation, an appropriately named Canadian company that has a shocking track record of 'business' relationships with the worst gangsters and tyrannical regimes in the world.

BNP Paribas also has one other distinguishing feature: a direct corporate and familial relationship with the persons running the government of Canada for the last 20 years.

The truth about BNP Paribas and Power Corp. sheds a new light on Canada's seemingly bizarre anti-American foreign policy in the Middle East, in China and elsewhere.

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

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