In another stunning display of Bankster criminality, Standard Charter Bank, was recently accused of Major money laundering. Its instructive to know they, over the course of years, 2001 to 2007, laundered 250 billion dollars for the government of Iran. Initially, it appeared the state of New York was going to go after this Bank, even threatening its Charter here in the USA to conduct Banking. I say initially, because that was before the Federal Justice Department probably intervened and we recently received the following:
ALBANY, N.Y. – The state’s financial regulator said Tuesday his agency has reached a $340 million settlement with Standard Chartered Bank to resolve an investigation into whether the British bank schemed with the Iranian government to launder $250 billion from 2001 to 2007.
The bank will pay the civil penalty to the state and will strengthen oversight of overseas transactions, state Department of Financial Services Superintendent Benjamin Lawsky said.
My reaction to this is, you have to be kidding right? You can Launder 250 Billion and get slapped with a fine of 340 million. Why would you stop? You make billions in fee’s and when you get caught, no one gets indicted, no one goes to jail, no one is responsible. You, as a company, pay a small percentage to the government in the way of a fine. So I ask again…..Why would you stop….The money you pay is factored in to the cost of doing business and you can then get this back by increasing the fees your depositors pay for allowing them the privilege of doing banking with your sleazy firm……What’s not to like?
Here’s what is so very concerning. There are now two sets of rules which apply. Let me explain. If you go to the bank with more than ten thousand dollars in cash, you are immediately flagged as a person to watch. The Federal government makes the banks report this back to them and if you show up on a fairly regular basis with large cash deposits, you will be looked at and possibly flagged as a possible drug dealer. You see drug dealers, have the same problem Iran has. They need to wash all the cash they take in and make it legitimate. If you are engaged in Money Laundering and you get caught, I can assure you, you will go to jail. However, If you’re a bank and you engage in this, you get to skate with a fine and life goes on as if nothing has happened…
Now, the thing about Standard Charter is, this was willful. This bank would go back and falsify records so it would appear these were benign transactions. What this means is, they were, with forethought and malice, intentionally deceiving Auditors to make these transaction not appear for what they really were. What is the difference between these guys and the Mob? Wait a minute, They are the MOB…….There is no difference and some one needs to go to jail. Instead we get the same treatment we got from Barclay’s Bank Former CEO. Saw no evil , Heard no evil, spoke no evil.….These guys are Criminals and need to be arrested. When are we, the people going to demand Justice????
Unfortunately, until we start to demand justice from our elected officials, Nothing will Change. Get involved, have your voices heard.