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Posts Tagged ‘revocation of bank license’

Standard Chartered Scandal: “Asian Regulators Had Lost Faith in American Regulators”

Posted by Larry Doyle on August 13th, 2012 8:58 AM |

I would not expect that Benjamin Lawsky, superintendent of the New York State Department of Financial Services, is receiving many invitations on the Washington cocktail circuit currently.

When Lawsky recently brought to light the alleged longstanding Iranian money laundering activities at Standard Charted Bank, he not only dropped a bombshell on the institution, he dropped an even bigger explosive into the midst of America’s largest financial regulators. Good for him and for us.

We are long overdue for somebody with a real set of balls to expose the crony capitalism that defines our domestic and international banking and regulatory system these days.¬† (more…)

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