Since the Israeli assault in the summer of 2006 we have known that the next war on Lebanon would likely be one of economics, not arms, and that the targets would not be bridges and bunkers, but the pillars upon which all commerce in the country depends — the banks. In response to this new reality, how has the banking industry responded? Has the Association of Banks in Lebanon (ABL) formed a standing committee or task force to confront threats as they arise? Has the ABL made efforts to organize an effective lobby in Washington to push its interests at the heart of where, unquestionably, the greatest threat of sanctions lies? The answer to both is a resounding ‘No’. At best, the banks have adapted ad hoc to circumstances that have arrived — case in point is the ABL’s last-minute deal to fund Lebanon’s $32 million obligation to the United
