In a telephone briefing, a senior Treasury Department official said the amount was the largest total blocked by any single order ever issued by the U.S. government.
David Cohen, acting Treasury under secretary for terrorism and financial intelligence, said the department was in contact with banks throughout the weekend. He said they will "scour their accounts" for any more funds connected to Gaddafi or his family.
President Barack Obama signed an executive order freezing the assets last Friday in response to Gaddafi's bloody crackdown on an uprising against his 41-year rule. Obama said the legitimacy of Gaddafi's rule had been "reduced to zero" because of the actions taken against protesters.
Cohen noted that the United Nations has also passed a resolution freezing Libyan assets and that the European Union was taking corresponding action. He turned aside questions whether the United States had information about Libyan assets in Europe other than to say the Treasury assumed some were outside U.S. jurisdiction.
*Why is it that America is all up in the business of other nations? It's disturbing on many levels that a country as strong as ours continues to be the bread-winner and long-term investor of many nations. When will America get the fact that they can't fight every country's battle? It's time to cut the cord and focus on our own country and it's business to ensure that the American people are taken care of first and foremost.*
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