Add Credit Suisse to the Axis of Evil
I hope everyone has read the articles this week in the Times and WSJ reporting on the half-billion dollar settlement with Credit Suisse for laundering money for
The basic story is that Credit Suisse has settled a case accusing the Bank of purposefully facilitating illegal wire transfers to the
The biggest shocker about this story is the reaction of the U.S. Government. First, without making any assumptions, the Bank clearly violated economic sanctions that have been in effect for the better part of two decades. These sanctions are our only current resource to curb
Secondly, to add insult to injury, it seems likely the Bank facilitated
This plea deal is nothing short of lunacy. The
President Obama, Hilary Clinton, you want more effective sanctions? I can't think of a better gift, use it.
As a final point for this story. Where are the FBI, the Treasury, and Homeland Security in all this? How on earth did the little old NYC District Attorney Robert Morgenthau (literally old: he is in his 90s) nail this case down? Is anyone watching these things? Is it really as simple as disguising a routing number? No wonder this has been completely ineffective foreign policy. Someone better be stepping it up soon because Morgenthau is set to retire January first. Who will watch out for money laundering from the "evil doers" once he is gone?
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