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Financial War Treasury's War: The Unleashing of a New Era of Financial Warfare By Juan Zarate
In Treasury's War, Juan Zarate, a former Assistant Secretary of the Treasury for Terrorist Financing and Financial Crime and federal pros- ecutor, earnestly presents an insider's view of the US Treasury's response to the terrorist attacks of 9/11. In all, this book is an important, enjoyable and often contradictory history vital to understanding the contemporary US practice of financial-based power projection, and the Treasury's new role in national security.
The author begins with a brief introduction to the Office of Foreign Assets Control (OFAC), which is "the US government's primary tool for going after the assets of enemy regimes" domiciled within Washington's jurisdiction, as well as prohibiting American citizens, banks, or businesses from transacting with Specially Designated Nationals, (individuals, businesses, groups or entities) sanctioned by law. North Korea, Cuba and Iran were all subject to lawful economic sanctions, administered by Treasury prior to 9/11.
Mr. Zarate's "Treasury tale" begins after 9/11 with three lawyers, Treasury General Counsel David Auf hauser, his Deputy George Wolfe and Chief Adviser Bill Fox, crafting the contours of what would become Executive Order 13224, authorizing Treasury to designate administra- tively the financial enablers...