Standard Chartered illegally "schemed" with Iran for almost a decade to launder as much as $250bn (£161bn) in secret transactions, a US regulator says.
"It is now looking as though Standard and Chartered have joined the ranks of other mainstream banks in the conduct of $250 Billion yes Billion sham sanction busting transactions for Iran over a 10 year period http://www.bbc.co.uk/news/business-19155577 The criminality of these institutions is such that the only reasonable options are to nationalise them and/or shut them down. Personally I am not particularly interested in filling the penal system with the miscreants; much better to pillage their family trusts, pensions and savings and leave them with the clothes they stand up in and say a sum up to half a million. Watching them come to terms with relative poverty would make for an interesting not to say amusing spectacle. Whatever happens the trust in ALL financial institutions has GONE. Our governments have to get real about this - banking is the largest organised crime organisation the world has ever seen. It won't be fixed with 'elastoplast'. Every day they continue to trade merely endorses their actions. The idea that the problem is limited to UK and US is daft it is ubiquitous and is endemic in Australasia, Asia, Africa, Europe and the Americas." Ashley Smith (http://www.facebook.com/profile.php?id=100001572308913)