serious

Eh?

The Register has just mentioned US policy in Iraq and one "President Bilko", whoever he might be. I wonder who they mean?
If it's intentional, it's clever, LOL.
Hm, I'd suggest it's a reference to The Phil Silvers Show, from the "golden" era of television comedy.

Phil Silvers played "Sergeant Bilko," a US Military man who was always scamming himself into and out of trouble. As the root word "bilk" suggests, Master Sergeant Bilko was essentially a fraud in high places, untrustworthy, scheming, deceitful... you get the picture.

That'd be my guess. And I'd say it's a right good fit, wouldn't you?
LOL, you are being sarcastic, aren't you? LOL. And I took you seriously. LOL. I'm such a wonder goof. :-)
Yes. Sorry.

The reason they probably picked on Bilko is that the readers of the Radio Times (the BBC's tame TV & radio listings mag) voted it their favourite sitcom, ahead of MASH, Fawlty Towers, and all the other obvious possibilities.

The Reg just couldn't resist it, I guess. And neither could I.

Bilko won over MASH or Fawlty Towers? I take it that 'vote early, vote often' is the dictum in Fort Baxter.