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[casi] Iraq privatization czar: Bush family buddy

President appoints Greenwich man to Iraq position

By Associated Press, 8/7/2003 23:31

GREENWICH, Conn. (AP) A Greenwich resident will serve as director of private
sector development in Iraq, in an appointment by President Bush.

Thomas Foley, 51, who said he befriended Bush in 1974 when they both
attended Harvard, will report directly to the top U.S. administrator in
Iraq, Paul Bremer, the Greenwich Time reported.

Foley is chairman and founder of the NTC Group, a private equity investment
company. He was chairman of Bush's Connecticut campaign finance committee in
2000, after raising more than $100,000 for his college friend.

Foley plans to leave for Iraq early next week and stay in Baghdad for nine
months. He was appointed to the post last week during a visit with the
president in Washington.

He will be in charge of 200 state-owned enterprises, including mining,
chemical, cement and tobacco companies. Oil production and two state-owned
banks are the only industries that will not be under his supervision, he

Second, over the next six months, he will draft a privatization plan for the
state-owned businesses.

Finally, he will manage all trade and foreign investments into Iraq.

''Basically, I need to help get Iraq's economy going in the right
direction,'' Foley said.

Before he leaves for Iraq, Foley must receive top secret clearance from the

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