Although not well known outside Wall Street, Freddie Mac and its corporate cousin, Fannie Mae, are two of the world's largest financial institutions and play a crucial role in the housing market.

After a generation of misrule under Mr. Hussein, who built a huge military infrastructure while neglecting civilian investment, and a dozen years of United Nations sanctions, Iraq's unemployment rate tops 50 percent.

Iraq is short on capital, short on electricity, and short on management expertise, but it does not lack economic enthusiasm.

Alex Berenson Quotes