Marine Links Canada Square Fast & Furious Banks to Benghazi Rape and Sister’s JABS
United States Marine Field McConnell has linked a Fast & Furious bank cartel based at Canada Square, Canary Wharf , to Benghazi actors apparently hired by HSBC and its Libor associate Standard “Fucking Americans” Chartered Bank through his sister Kristine Marcy’s Joint Automated Booking Station for the Crimewatch snuff-film rape of U.S. Ambassador to Libya, Christopher Stevens.
“U.S. Ambassador Raped Then Murdered at Embassy in Libya”
“Standard Chartered agrees $340m settlement with US regulator over Iran
Chief executive Peter Sands under pressure after bank agrees to pay fine levied by New York department of financial services
The Guardian, Tuesday 14 August 2012 20.19 BST
Lawsky had said that he could withdraw the bank’s licence but has now dropped the threat, which analysts said could protect the share price on Wednesday. However, his statement announcing the settlement insisted that both sides had agreed that the “conduct at issue” covered $250bn – the full amount of his original order.
The fine is considerably larger than the $5m that the bank had argued its breaches should merit – although it may still rise as the DFS is only one of a number of authorities which has been investigating possible breaches. These include the Department of Justice and the Office of Foreign Assets Control (Ofac). Standard Chartered has admitted since 2010 that it has been discussing potential sanctions breaches.
But the bank was unprepared for the decision by the DFS to publish its allegations while Sands was on holiday with his family. Investors’ fears that it could be stripped of its New York licence and possible resignations at the top of the bank sliced almost 25% off the bank’s share price. The shares have been recovering, ending on Tuesday at £13.70, nearly 3% higher, but still below the £16 levels from last week.
A Standard Chartered spokesman told Reuters last night the settlement was “a pragmatic decision in the best interest of shareholders and customers”.
The loss of its banking licence would be more damaging than the fine, although Sands on Tuesday told the Business Standard paper in India – where the bank has a high street banking operation – that he did not believe the bank would be stripped of its ability to conduct business directly in the US.
“We hope we do not lose our licence, we don’t believe we should lose our licence and we don’t believe we will,” Sands said, adding that the bank was planning for all possible outcomes.
Ian Gordon, banks analyst at Investec, said: “It has taken the nuclear option off the table and suggests the total settlement will be manageable.”
Sands joined the bank as finance director in 2002 so has been on the board through most of the 2001-07 period covered by the allegations. He was appointed chief executive in November 2006, when he was replaced as finance director by Richard Meddings, who joined the bank four years earlier and was previously head of risk.
Meddings is the executive who, Lawsky claimed, made a remark to a US-based Standard Chartered executive about “fucking Americans” when warned about the potential breaches of sanctions. Standard Chartered insists that the remarks are inaccurate.”
”The Crown Agents Foundation
The Crown Agents Foundation is a non-profit-distributing company limited by guarantee. It owns all the shares in Crown Agents and oversees its ethos and activities. It also has distinct social and developmental objectives.
Crown Agents allocates sums for the Foundation’s social and developmental purposes and applies these at the direction of the Foundation.
The Foundation has a governing Council (pictured left) and up to fifty Members, representing a balance of interests among which are international firms, professional bodies, and non-governmental and other organizations.
The President of the Foundation is HRH The Duke of Gloucester, KG, GCVO and the current membership comprises:
Aga Khan Foundation (Geneva)
Charities Aid Foundation
The Chartered Institute of Building
The Chartered Institute of Purchasing and Supply
Institute of Development Studies
International Business Leaders Forum
International Chamber of Commerce UK
The Royal Commonwealth Society
The Royal Society for the Encouragement of Arts, Manufactures and Commerce
Secretary of State for International Development (Nominee: Liz Ditchburn)
AMREF – African Medical and Research Foundation (Nairobi)
BBC Media Action
British Standards Institution
British Telecommunications plc
CARE International UK
The Chartered Institute of Logistics and Transport (UK)
Commonwealth Business Council
Concern Worldwide (Dublin)
FirstCaribbean International Bank (Barbados)
Stuart Kerr, Legal & Regulatory Director, Millennium Challenge Corporation (Washington DC)
Standard Chartered Bank
Higher School of Economics, National Research University (Moscow)
Transparency International (Berlin)
More to follow.