US regulators have gone nuts. And they have a habit of painting any situation in the worst possible light. bit like the financial services equivalent of the perp walk.
Tiger_In_The_Hermitage at Aug. 07, 2012 - 05:48PM JST
Since when did US laws apply to the world? The world should not sit idle and tollerate such a dictatorship. Banking services is a basic human right.
TheQuestion at Aug. 07, 2012 - 09:54PM JST
Huh, 250 billion isn't the largest sum of money I've ever heard of being hidden. Banking crimes and financial regulatory proceedings take a long time to pan out and all the informaiton won't be available for a long time. I've never worked directly with the DFS so I don't know anything about their review practices but most oversight and auditing entity's rarely level large accusations without a mountain of proof.
Since when did US laws apply to the world? The world should not sit idle and tollerate such a dictatorship. Banking services is a basic human right.
The law only applies to banks that operate in the US. Standard Charter has long operated in the United States and is subject to US banking laws. If Standard Charter didn't have any US clients they can work with whoever they want but so long as they have US holdings they need to follow US rules.
noriyosan73 at Aug. 08, 2012 - 07:36AM JST
There is always a way around any limitations. Very few countries care about what happens in Iran or Syria as long as they make money. It is a fact of life.
Ron Schaefer at Aug. 08, 2012 - 12:33PM JST
Ok, Shame on them for Doing Business with Iran, but don't mind us Buying all that Petrol-Oil from that So-Called Terrorist Iranian Government. p.s., We still buy all that Hugo Chavez Oil Money.
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Wakarimasen at Aug. 07, 2012 - 01:40PM JST
US regulators have gone nuts. And they have a habit of painting any situation in the worst possible light. bit like the financial services equivalent of the perp walk.
Tiger_In_The_Hermitage at Aug. 07, 2012 - 05:48PM JST
Since when did US laws apply to the world? The world should not sit idle and tollerate such a dictatorship. Banking services is a basic human right.
TheQuestion at Aug. 07, 2012 - 09:54PM JST
Huh, 250 billion isn't the largest sum of money I've ever heard of being hidden. Banking crimes and financial regulatory proceedings take a long time to pan out and all the informaiton won't be available for a long time. I've never worked directly with the DFS so I don't know anything about their review practices but most oversight and auditing entity's rarely level large accusations without a mountain of proof.
The law only applies to banks that operate in the US. Standard Charter has long operated in the United States and is subject to US banking laws. If Standard Charter didn't have any US clients they can work with whoever they want but so long as they have US holdings they need to follow US rules.
noriyosan73 at Aug. 08, 2012 - 07:36AM JST
There is always a way around any limitations. Very few countries care about what happens in Iran or Syria as long as they make money. It is a fact of life.
Ron Schaefer at Aug. 08, 2012 - 12:33PM JST
Ok, Shame on them for Doing Business with Iran, but don't mind us Buying all that Petrol-Oil from that So-Called Terrorist Iranian Government. p.s., We still buy all that Hugo Chavez Oil Money.