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HomeStandard Chartered: Friends Like This, Who Needs Enemies
Posted by Larry Doyle on August 7th, 2012 9:07 AM |
Dealing with terrorists, weapons dealers, drug lords, and corrupt regimes would all seem to take a back seat to the pursuit of profit and revenue at the UK-based Standard Chartered Bank.
In what has to be a new low in terms of financial intermediation, the crowd at Standard Chartered stands accused this morning by the New York State Department of Financial Services of being a rogue institution.
In what might seem to be a potential script for a Harrison Ford thriller but is regrettably all too real, the Financial Times hits Standard Chartered hard in reporting, StanChart Shares Hit Over Iran Probe,
Shares in Standard Chartered plunged nearly 25 per cent on Tuesday after the New York State financial regulator accused the UK bank of hiding $250bn of transactions with the Iranian government. (more…)
