ISIS (The Islamic State of Syria and Iraq) has been in the news a lot lately because just last week President Obama declared that Iraq was peaceful and happy due to his enlightened foreign policy. I was in DC over the last couple of days and he's not saying that now that the full blown war in Iraq finally made headlines and the US mainstream media is reporting on it. (how politically incorrect of them)
ISIS were essentially street thugs, robbers, burglars and extortionists with occasional funding from the Saudis and Gulf States until they looted the Bank of Mosul to the tune of US$429 million this month. The cash and gold bullion turned them from a rag-tag bunch of street thugs into a well funded bunch of street thugs. That they've been able to take and hold territory is only a testament of how fractured, factionalized and generally screwed up Iraq is...and how out of touch the US official foreign policy machine is.
When President Obama is embarrassed like this, we are accustomed to his assertions to the effect that he had no idea that this was happening until he read it/saw it on the news. Expect that he will amplify outrage and then leave for a fundraiser or a golfing vacation in Hawaii and announce a pivot toward jobs. The First Lady will write a hashtag sign and will publicly whine about how tough it is to be First Lady.