A New York bank regulator has done what the Obama Administration should have and has splayed for all to see the inner workings of a bank which he claims has been laundering money for the Iranian government for a decade!
Finally, New York banking regulator–doing his job–has put the spotlight on the British bank, for helping wash cash for Iran. The move has angered the Obama Administration. What?!
“The U.S. Treasury Department and Federal Reserve were blindsided and angered by New York’s banking regulator’s decision to launch an explosive attack on Standard Chartered over $250 billion in alleged money laundering transactions tied to Iran, sources familiar with the situation said.”
“Lawsky’s [the bank regulator] stunning move, which included releasing embarrassing communications and details of the bank’s alleged defiance of U.S. sanctions against Iran, is rewriting the playbook on how foreign banks settle cases involving the processing of shadowy funds tied to sanctioned countries. In the past, such cases have usually been settled through negotiation – with public shaming kept to a minimum. (My bolding)
In his order, Lawsky said Standard Chartered’s dealings exposed the U.S. banking system to terrorists, drug traffickers and corrupt states.“
So now if “In the past, such cases have usually been settled through negotiation – with public shaming kept to a minimum,” is it any question why past sanctions have been ineffective? Basically a slap on the hand, so now why is this Administration pursuing this as business as usual?
Seems the Administration was a little slow in prosecuting this bank who allegedly seriously violated the sanctions against Iran over nearly ten years. One wonders why the Fed and especially the Treasury Department were hesitant to throw the book at the bank and make a quick example of them given the assertion that Standard Chartered has been laundering the Ayatollah’s money for a decade.
“A spokesperson for the Federal Reserve said it had been working closely with various prosecutorial offices on matters involving Iran and other sanctioned entities, but could not comment on ongoing investigations.”
“White House Press Secretary Jay Carney said the government takes alleged violations of sanctions “extremely seriously” and the Treasury remains in close contact with federal and state authorities on the matter. The Treasury declined to add to that comment.”
Does no one in the media ever seriously question the Administration based on their indifference to change of standard operating procedures or perhaps the more serious allegation of seeking to roll back basic protection of the American Public by not aggressively pursuing those who are funding the avowed enemies of America??? Or in assessing the lack of performance of this Administration does it really matter whether it’s simply business as usual or total disregard for the security of our borders and Americans? Isn’t the impact basically the same?
Tell ’em where you saw it. Http://www.victoriataft.com
