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(CNN)   US plans to fine a French bank $9 billion for dealings with Iran. Then the US will send that $9 billon to Afghanistan, who will use it to support their new trade deal with Iran   (money.cnn.com) divider line 19
    More: Interesting, BNP Paribas, Jean-Claude Trichet, stress tests, European Central Bank  
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514 clicks; posted to Business » on 30 Jun 2014 at 3:52 PM (11 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



19 Comments   (+0 »)
   
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2014-06-30 02:57:07 PM
I was in El Salvador a few years back, hanging out with some former guerrillas who now run a farmers coop. We stopped at their war museum (in Morazan, I think) and they had a wall with several kinds of weapons they used to fight the government. Among these was a US-made shoulder fired missile called Redeye that stood out. I asked the guys if they got that and the other US equipment by raiding the military bases of their American-supported government. They said that some raids did happen but most of their US equipment came from the Contras in Nicaragua. Sometimes the Contras needed cash and sold the commies in ES the American guns they got for free. Must have been good business for the Contras. Apparently the contras didn't give a fark about El Salvador going over to the commies... and needed the cash to fight commies in Nicaragua but the gringos kept giving them weapons (I'm sure some of the cash also went for non-military purposes).So in the end the US was supplying both the FLMN and the Salvadoran government during that civil war. IDK if there was another path where guns were moving from the US to the Nicaraguan commies. But that would not surprise me </csb>
 
2014-06-30 03:25:17 PM
 
2014-06-30 03:59:43 PM

Because People in power are Stupid: http://www.bloomberg.com/news/2011-10-02/koch-brothers-flout-law-gett i ng-richer-with-secret-iran-sales.html

Great, now fine the Koch brothers.


How about we just give up on the idea of sanctions instead.  They don't work.
 
2014-06-30 04:00:28 PM
I think BNP made about $30 billion on the deal.  So they're forced to pay 1/3rd of it back.
 
2014-06-30 04:02:00 PM
Connect the dots, study it out!
 
2014-06-30 04:11:01 PM
Stay classy, US.
 
2014-06-30 04:24:47 PM
As always, France Sucks.
 
2014-06-30 04:27:14 PM
So why does a French bank have to abide by US laws? Is this something left over from WWII?
 
2014-06-30 04:49:55 PM

HempHead: So why does a French bank have to abide by US laws? Is this something left over from WWII?


They don't but have a US sub. The govt could take away their banking license eliminating their ability to do business in the US
 
2014-06-30 05:40:48 PM
They should've hired Olivier Nord.
 
2014-06-30 06:32:48 PM
Obama is arming rebels in Syria that use chemical weapons on civilians.
 
2014-06-30 07:43:55 PM

kbronsito: I was in El Salvador a few years back, hanging out with some former guerrillas who now run a farmers coop. We stopped at their war museum (in Morazan, I think) and they had a wall with several kinds of weapons they used to fight the government. Among these was a US-made shoulder fired missile called Redeye that stood out. I asked the guys if they got that and the other US equipment by raiding the military bases of their American-supported government. They said that some raids did happen but most of their US equipment came from the Contras in Nicaragua. Sometimes the Contras needed cash and sold the commies in ES the American guns they got for free. Must have been good business for the Contras. Apparently the contras didn't give a fark about El Salvador going over to the commies... and needed the cash to fight commies in Nicaragua but the gringos kept giving them weapons (I'm sure some of the cash also went for non-military purposes).So in the end the US was supplying both the FLMN and the Salvadoran government during that civil war. IDK if there was another path where guns were moving from the US to the Nicaraguan commies. But that would not surprise me </csb>



And all she wants to do is dance.
 
2014-06-30 07:54:46 PM
Actually w are going to use it to pay for aid for moderate Syrian rebels who instead will stash the money in a French bank that will remain nameless.
 
2014-07-01 03:17:22 AM
Iran is a much better country than Saudi farkin Arabia. It's too bad we had to stir up the pot with them back in the day.
 
2014-07-01 05:42:33 AM

NewWorldDan: Because People in power are Stupid: http://www.bloomberg.com/news/2011-10-02/koch-brothers-flout-law-gett i ng-richer-with-secret-iran-sales.html

Great, now fine the Koch brothers.

How about we just give up on the idea of sanctions instead.  They don't work.


Freeeeeeee Nelson Mandelaaaaaa.....
 
2014-07-01 06:34:14 AM

Debeo Summa Credo: HempHead: So why does a French bank have to abide by US laws? Is this something left over from WWII?

They don't but have a US sub. The govt could take away their banking license eliminating their ability to do business in the US


I'm a BNPP retail client, so I went on their online banking website this morning and read the press release.  If you take it at face value (and read between the lines just a little bit), the transaction was completely legal according to French and EU law, but being related to oil and gas brokerage was conducted in Dollars and not Euros.  So the USDOJ, in its characteristically creative and self-serving logic, felt that this gave them jurisdiction over BNPP, and since BNPP didn't want to get locked out of the US market they bit the bullet and paid the ransomfine.  Those responsible have been sacked, all deposits are insured and you have nothing to worry about, et cetera et cetera, memo bis punitor delicatum.
 
2014-07-01 06:57:51 AM
You delight in laying down laws,
Yet you delight more in breaking them.
Like children playing by the ocean who build sand-towers with constancy
and then destroy them with laughter.


Khalil Gibran (1923)
 
2014-07-01 07:23:36 AM

Nemo's Brother: Obama is arming rebels in Syria that use chemical weapons on civilians.


Nice try Assad.
 
2014-07-01 07:55:00 AM
How the hell did we let the French get up on this one?
A.B.C. Always be closing

encrypted-tbn1.gstatic.com

// Peas in a pod
///Blanlfein and his pet.
 
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