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horse trading

NY Settles Standard Chartered Probe

horse trading

Photo Rolf Bauerdick

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?

  1. This story broke August 6th, that’s 8 days ago.
  2. 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).
  3. Iran is the world’s number 1 most-detested rogue country; remember sanctions, nuclear weapons, Iraq interference, Israel?
  4. The bank settled 1 day before the scheduled hearing.

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