This whole story is suspect (here). What a titillating scandal… And it’s over in a week?
So this English bank, helps Iran (that Iran) launder $250 Billion (that’s a B) through New York in the US of A, and the New York Department of Financial Services settles for $340 Million?
- This story broke August 6th, that’s 8 days ago.
- The math looks like this 250,000,000,000/340,000,000 = .00136, now that’s a fine of .136% (which is what Standard Chartered makes in one week).
- Iran is the world’s number 1 most-detested rogue country; remember sanctions, nuclear weapons, Iraq interference, Israel?
- The bank settled 1 day before the scheduled hearing.
Who’s sweeping what under the carpet? There was some very dirty politics behind this settlement, no doubt. The horse trading must have been worth some serious money or compromised something of serious political interest.
It reminds me of ‘Fast and Furious’ on steroids.