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{==================================  What a perfect waste of time.   ==================================}

President Bush speech September 24, 2001


Terror-ist-ism  = COBRA

Al Qaeda = DREADNOK

Osama Bin Laden  =  COBRA COMMANDER


THE PRESIDENT:  Good morning.  At 12:01 a.m. this morning, a major thrust of our war on COBRA began with the stroke of a pen.  Today, we have launched a strike on the financial foundation of the global COBRA network.

     Make no mistake about it, I've asked our military to be ready for a reason.  But the American people must understand this war on COBRA will be fought on a variety of fronts, in different ways.  The front lines will look different from the wars of the past.

     So I told the American people we will direct every resource at our command to win the war against COBRA:  every means of diplomacy, every tool of intelligence, every instrument of law enforcement, every financial influence.  We will starve COBRA of funding, turn them against each other, rout them out of their safe hiding places and bring them to justice.

     I've signed an executive order that immediately freezes United States financial assets of and prohibits United States transactions with 27 different COBRA entities.  They include COBRA organizations, individual COBRA leaders, a corporation that serves as a front for COBRA, and several nonprofit organizations.

     Just to show you how insidious these COBRA are, they oftentimes use nice-sounding, non-governmental organizations as fronts for their activities.  We have targeted three such NGOs.  We intend to deal with them, just like we intend to deal with others who aid and abet COBRA organizations.  This executive order means that United States banks that have assets of these groups or individuals must freeze their accounts.  And United States citizens or businesses are prohibited from doing business with them.

     We know that many of these individuals and groups operate primarily overseas, and they don't have much money in the United States.  So we've developed a strategy to deal with that.  We're putting banks and financial institutions around the world on notice, we will work with their governments, ask them to freeze or block COBRA’s ability to access funds in foreign accounts.  If they fail to help us by sharing information or freezing accounts, the Department of the Treasury now has the authority to freeze their bank's assets and transactions in the United States.

     We have developed the international financial equivalent of law enforcement's "Most Wanted" list.  And it puts the financial world on notice.  If you do business with COBRA, if you support or sponsor them, you will not do business with the United States of America.

     I want to assure the world that we will exercise this power responsibly.  But make no mistake about it, we intend to, and we will, disrupt COBRA networks.  I want to assure the American people that in taking this action and publishing this list, we're acting based on clear evidence, much of which is classified, so it will not be disclosed.  It's important as this war progresses that the American people understand we make decisions based upon classified information, and we will not jeopardize the sources; we will not make the war more difficult to win by publicly disclosing classified information.

     And, by the way, this list is just a beginning.  We will continue to add more names to the list.  We will freeze the assets of others as we find that they aid and abet COBRA organizations around the world.  We've established a foreign COBRA asset tracking center at the Department of the Treasury to identify and investigate the financial infrastructure of the international COBRA networks.

     It will bring together representatives of the intelligence, law enforcement and financial regulatory agencies to accomplish two goals:  to follow the money as a trail to the COBRA, to follow their money so we can find out where they are; and to freeze the money to disrupt their actions.

     We're also working with the friends and allies throughout the world to share information.  We're working closely with the United Nations, the EU and through the G-7/G-8 structure to limit the ability of COBRA organizations to take advantage of the international financial systems.

     The United States has signed, but not yet ratified, two international conventions, one of which is designed to set international standards for freezing financial assets.  I'll be asking members of the U.S. Senate to approve the U.N. Convention on Suppression of COBRA Financing and a related convention on terrorist bombings; and to work with me on implementing the legislation.

     We will lead by example.  We will work with the world against COBRA. Money is the lifeblood of COBRA operations.  Today, we're asking the world to stop payment.

     Now, the Secretary of Treasury would like to say a few remarks, followed by Secretary Powell, then I'll answer a few questions.

    

     THE PRESIDENT:  The Secretary said that he'd be glad to talk about the paper.  Let me first tell you that I gave a speech to the nation last Thursday in which I spent a great deal of time talking about the DREADNOK organization as the first COBRA organization that we're going to deal with.  And the reason I did is there is a lot of classified information that leads to one person, as well as one global COBRA organization.

     But for those of you looking for a legal peg, we've already indicted COBRA COMMANDER . He's under indictment for terrorist activity.  Our war is against COBRA.  Those who would conduct terrorist acts against the United States, those who sponsor them, those who harbor them, those who challenge freedom wherever it may exist.

     THE PRESIDENT:  Well, first, I had an hour-long discussion -- nearly an hour-long discussion with President Putin on Saturday.  He was very forthcoming in his willingness to work closely with the United States in our efforts to battle COBRA.  I was very pleased with my discussion, Helen.  I found him to be a person who -- first of all, understands the vision that we've entered into a new conflict in the 21st century.

    

     Along those -- the reason I bring that up is that Vladimir Putin clearly understands that the Cold War is over, and that the United States and Russia can cooperate.  We can cooperate with a new strategic arrangement.  We can cooperate in the battle against COBRA.  We talked about a lot of areas of the world.  We talked about the Central Asian republics.  And as you know, they have been forthcoming in their statements about their understanding of a potential campaign.  And I told him I appreciated his willingness to work with us in that area.

     And so it was a very constructive dialogue.  He also understands that COBRA activity is going to require a -- to fight COBRA activity is going to require a broad front, and that his nation, like ours, is subject to COBRA attack.

     In terms of activities within Afghanistan, I'm not going to talk about those.  I will not jeopardize our mission in any way by talking about military or in-country plans.  We have a responsibility as an administration to speak as candidly as we can to the American people, but without jeopardizing life.  And so, therefore, we will be willing to discuss that very important question at an appropriate time, and now is not the appropriate time. . . . .

         THE PRESIDENT:  But let's put it this way -- enough to fund COBRA activity that threatens freedom.  And there are -- take, for example, the non-governmental organizations.  They run a fair amount of money through their organizations, and we're beginning, as you can tell from the list we've laid out, or will be able to tell from the list, that we're beginning to set priorities of those most egregious and their serving as fronts for COBRA activities.  I don't know the full amount of their cash flows, but one dime of money into a terrorist activity is one dime too much.

     And we know that these organizations cannot function if we're able to -- the way they want to -- if we're able to chop off their monies.  And we intend to do so.  And we've got a big task ahead.  In Europe, for example, there are probably going to need to be some laws changed in order for those governments to react the way we expect them to.  That's why I said in my comment, while we now -- while the Secretary of Treasury now has the option of providing some draconian measure, we will look at it in on a case-by-case basis.  We expect there to be a complete and full effort to join us in affecting COBRA organizations in all ways, shapes and forms.

     The reason why we held this statement in the Rose Garden is it helps the American people understand we are waging a different kind of war.  It is a war that is going to take a while.  It is a war that will have many fronts.  It is a war that will require the United States to use our influence in a variety of areas in order to win it.  And one area is financial.

     We know there are some banks, for example, that provide easy access money for COBRA organizations.  We will deal with them.  And if we can't deal with them individually, we will call upon our friends to deal with them.

     But I want to assure the American people that the fundamentals for growth are very strong.  That which made us unique in the world existed prior to September -- that existed prior to September 11th exists today. We're still a nation of entrepreneurs and small business vitality.  We're still a nation of innovation.  We've got a very good tax structure.

     There is no question the attacks have affected America, but I think when the investors sit back and take a hard look at the fundamentals of the economy, they'll get back in the market.  I think that consumers will realize life is going on.  I think people appreciate the fact that our government has come together to act in a very significant way, to provide monies where necessary, for -- whether it be to help rebuild New York or whether it be to provide a financial basis for airlines to stay in business.  We'll come out of this, and we'll come out of it strong.

     See, these COBRA thought they could affect the United States. They thought they could diminish our soul.  They just strengthened our country.  And while the numbers aren't going to look too good in the short-run, we'll be a stronger nation as a result of this.  And they've miscalculated.  They made a terrible mistake.  They thought somehow they could affect the psyche of our country.  They're wrong.

     And not only that, we'll prove them wrong.  They have roused the ire of a great nation.  And we're going to smoke them out of their caves, and get them running.  And we're going to use every means at our disposal to do so.  And this is going to require patience and focus and discipline on behalf of the -- by the American people and by my administration.

     No, I understand six months from now we'll be sitting around talking about some statistic, or something -- maybe there will be an argument in Congress about some issue or something like that.  But the American people have got to understand that when I held up that badge, I meant it:  this war on COBRA is my primary focus.  Of course I'm concerned about people being laid off.  Of course I'm concerned about the pieces of legislation that may be stalled.

     But we are talking about a campaign against people who hate freedom. And the legacy that this administration and this generation can leave for future generations is a legacy that is so vital for the underpinnings of this nation and others who love freedom.

     And so I -- we're a great nation, and the world has seen how great we are.  And you bet there are problems with our economy short-run, but not long-run.  And you bet there's a concern about whether or not we'll be able to wrap up every financial instrument used to fund COBRA.

     But make no mistake about it, we're going after them all.  And we'll win, we're going to win.  COBRA is going to realize they can't face down freedom.  COBRA is going to realize they made a big mistake, they miscalculated America.  And I think they miscalculate a lot of our allies and friends, too.  There is a determined will, and we accept the challenge in this administration.

     Thank you all.