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Laundering is not the only issue.



http://www.independent.co.uk/news/business/news/british-bank-laundered-250bn-for-iran-regime-8010163.html


Standard Chartered, one of Britain's most distinguished global banks, has been accused by US regulators of laundering $250bn from Iran and behaving like a "rogue institution", in the latest catastrophic blow to the international reputation of the City of London.


 










This issue is much wider than laundering $250bn from Iran, and it is not only restricted to American "persecution" of British banks. Whether we agree with the practice of sanctions against Iran or not, (and personally I do not as, in my view, it is the combined interests of Israel and the United States, dictating to the world, to further their own agenda's, but that is another debate),  the Banking "industry" seem to consider themselves to be above the law in their day to day business practices. There are numerous examples of sharp practice or even criminal conspiracies across the whole banking sectors of the USA, Great Britain and even in Hong Kong and the far East. LIBOR, Sub Prime, miss selling and other scandals have been exposed recently, with perhaps more to follow. And it is not only restricted to the "High Street" Banks. It is clear that many of these practices are with the knowledge of or even the active involvement of the Central Banks of the countries concerned.  Perhaps some prosecutions and convictions followed by lengthy prison sentences for some of the banks executives may have a salutary effect on others in the banking sector of the world.
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