Submitted by Tyler Durden on 08/14/2012 - 13:57 Standard Chartered
Consider our minds blown, via Bloomberg:
*NEW YORK SETTLES PROBE OF STANDARD CHARTERED FOR $340 MLN
The life or death of STANCHART is settled - they live; and the $250 billion of 'laundering' transactions - sanctions/terrorism/drugs-related or not - are settled for a 0.14% transaction fee (that'll teach 'em!). In other words, Std Chartered's IRR for committing years of crime is 714%. Finally this is a whopping 1.9% of the bank's entire 2011 revenues, or in other words they had to hand over 7 days of revenue (assuming a 365 day work week). Of course there are other fines/penalties to come but it looks like someone got a little over-excited at the regulators or as we note, STANCHART had some bottom-drawer details no one wanted outed. And now, employees of US "regulators," "enforcers" and various other "crime fighting" organizations can look forward to submitting their resumes to the British banks all over again.
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http://www.zerohedge.com/news/ny-state-regulators-settle-standard-chartered-014-transaction-fee
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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