Standard Chartered’s Group Executive Director, according to reports, when confronted about his bank’s Iran dealings, said: ”You [expletive] Americans. Who are you to tell us, the rest of the world, that we’re not going to deal with Iranians.”
New York State’s financial watchdog has accused Standard Chartered of hiding $250bn of transactions with the Iranian government, leaving “the US financial system vulnerable to terrorists, weapons dealers, drug kingpins and corrupt regimes”.
The UK-based bank’s shares fell more than 6 per cent after the New York state Department of Financial Services (DFS) issued an order just before the London market closed on Monday, which included a threat to revoke the bank’s licence to operate in the state, and called it a “rogue institution”.
Hang ‘em high, we say.
Sanctions against Iran are the world’s best hope of stopping another war. Sleazy bankers bringing war closer to make money deserve everything that can be thrown at them.