Here is an update to Olmert's strategy of preventing Iran from funding the Hamas-ruled Palestinian Authority by overwhelming it with alternative funding:
Iran: $250 Million to PA
The original story is a must-read, but here are the highlights:
The centerpiece of Kadima's response to the landslide Hamas victory was financial. Israel would lobby governments to cut off funding to the PA. Yes, Israel turned over $50 million, but vowed that "with Hamas in power, not even one shekel will be transferred to them." One of the wise men of Chelm pointed out the logical flaw, however. "Then they will get money from an enemy like Iran." Today the decision was therefore made to accept the funding of Hamas. "The aim is to prevent funding of the PA by Iran, or moneys collected by radical Islamist movements around the world." I kid you not. Preventing the collection of money by sending them money.
Michael Freund quips that this strategy will only work if "Hamas' bank account has a limit on accepting donations."