Sunday, January 30, 2005

The BCCI Affair

The BCCI Affair
Interesting report on BCCI the scandal-plagued bank. This bank was apparently involved in international espionage. This report seems particularly useful in covering the "how they did it" aspect of BCCI. For example, BCCI set itself up in selected geographic jurisdictions such that no substantial banking regulator could get a good grasp upon the exact extent and nature of its operations.

There are many books out there that cover the political aspects of this "BCCI Affair" and should be read in conjuntion with this report. One reason why BCCI was handled the way it was is that it embarrasses both Republican AND Democrat and does so at a fairly high political level.

The committee producing this document and its work, is one reason that Kerry somtimes claimed to have accomplished the feat of exposing BCCI and rooting out "whatever" from there. . . Really, in the end, it appears that money laundering is the only offense indicted. . .perhaps someone with more familiarity with the cases can BLOG in. . .

Googling on "Kerry BCCI" comes up with a Tampa newspaper article by the real investigators who ran and did the field work on the money laundering invetigation on BCCI and they are kinda peeved that Kerry was taking too much credit. . .oh well. . .that's politics.

Gotta love these "follow the money" investigations tho'


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