Showing posts with label on Iran. Show all posts
Showing posts with label on Iran. Show all posts

Friday, August 10, 2012

New York Declares War on Iran

New York Declares War on Iran
Why do you think they call it the 'Empire State'?

While speaking truth to power is not the sort of thing one expects the executive of a leading bank to indulge in, we’ll take it where we can find it. Here‘s the Group Director of the Standard Chartered Bank responding to the charges, leveled by New York State bank regulator Ben Lawsky, that SCB was involved in financial dealings with Iran to the tune of $250 billion:
"You f—king Americans. Who are you to tell us, the rest of the world, that we’re not going to deal with the Iranians?"
This, by the way, is cited in the complaint filed by the state of New York: Lawsky apparently thought it was incriminating enough to include. There is plenty of evidence this case has little to do with the sanctions, and more to do with bank protectionism: SCB is a British bank, and the city of New York is now engaged in a strenuous campaign to lure the high finance crowd away from London and back to the Big Rotten Apple. The Group Manager, who goes unnamed in the complaint, is asking the right question, which apparently Senor Lawsky isn’t prepared to answer – so I will.