Oh deary me thai ain't good for the banks

[righty]

Ame could you expand this please that is if you think its suitable for the site

http://www.reuters.com/article/2014/...0IU1Q120141110

[Tools]

Re: Oh deary me thai ain't good for the banks

Americans will sue anyone they can think of for any reason they can think of. I don't think it needs expanding any more than that.

[righty]

Re: Oh deary me thai ain't good for the banks

Sorry Tools but in this case your wrong. They are relying on a law introduced some time ago specifically for this sort of scenario. The banks did (as they have already admitted) help finance by money laundering much of which will have aided Iran in funding terrorism in the ME AND the sanctions were at the time introduced to stop this happening but because of these banks the sanctions failed

[Tools]

Re: Oh deary me thai ain't good for the banks

I stand corrected, to be honest I read as far as Americans and sue, by that time I had (wrongly) formed my opinion. That will teach me to gloss over a story whilst multi-tasking. Will read again righty, my apologies for dismissing it.

[Tools]

Re: Oh deary me thai ain't good for the banks

After reading more carefully I agree, it isn't good news for the banks, however, I do not agree with the part of the story that reads

.....sued five European banks on Monday, seeking to hold them responsible for shootings and roadside bombings because they allegedly processed Iranian money that paid for the attacks.

That is purely sensationalist and of course designed as media attention grabbing, that is the point where I originally glazed over.

I do agree though(if the evidence is correct) that they have knowingly broken sanctions and as such should be held accountable. Sanctions are put in place for a reason, the risk funding of terrorism here being the main one and they seem to have blatantly ignored that and attempted to hide it.

For that they should pay the price, financially, reputationally and morally. Unfortunately this happens all too often with a disregard for the Law and people it affects. I doubt they will ever learn until they are not only fined but imprisoned for their actions.

Again my apologies for initially dismissing the story righty, I was wrong to do so.