Another bank skeleton tumbles out of the cupboard

Posted by Flying Scotsman on Tue, 07/08/2012 - 16:27 in Blogs 617 2 comments | report

So, the revered and pukka Standard Chartered is mixed up withthe Iranians . Tut, tut, tut. I can't help wondering how long it has gone on for and how many people kept mum about it.It seems to have been outright deception , nit just a procedural lsip. That is unforgivable in anybody's book

Looks like the Feds are going to descend upon leafy Surrey and make an extraordinary rendition to spirit away some pin striped bankers to Guantanamo Bay on a one-way ticket.

What happens to Liverpool FC , the benefactors of Standard Chartered's generosity as sponsors ? Presumably they are implicated under some arcane American legislation. What next - a cruise missile heading towards the Mersey ?

Comments

USA method of funding their downturn ...

JC | Thu, 09/08/2012 - 09:57 | Permalink

Seems as though the US now have a different method of funding some of their shortfall

Or more precisely - blackmailing large corporations into settling disputes with large fines

The latest is Standard Chartered - although others have been BP (+ 4/5 in the last few years) etc.

The principle seems to be to pick a large corp & go for them with over the top claims - the corp will inevitably 'buckle' and settle for $xxx million fines rather than go for litigation because litigation costs are immense and even if they win the damage has been done

One additional tactic of the US is to try and trash the 'offending'm corporation in the media - just to strengthen their case by whipping up a 'bad boy' image with associated vitriol against the corp (talk about playing dirty!)

Know for a fact with the BP issue that this was a bandwagon for fraudulent claims from large chunks of the population in Florida whose economy was trashed before the spillage but topped up their income with $30k from BP - and what has the Obama regime done about this fraud - absolutely nothing because it's US nationals .v. 'foreign' evil corporations

Someone with large enough cohones (& bank balance) needs to litigate against the US Government for blackmail, restraint of trade etc. & give them a teste of their own medicine

US authrorities

Flying Scotsman | Fri, 10/08/2012 - 09:56 | Permalink

But the biggest fallout is going to be when Standard Chartered spill the beans on who else is involved in the chain and the US will pick 'em off one by one like a turkey shoot . Never mind that, stray into US on holiday if you are a director of one of those firms implicated (but not yet advised thus by the US ) and you ain't going home.

It's a very brave person or corporation that takes on Uncle Sam - it's bad enough in this country but in the USA it's a non-starter , especially if you are an outsider

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