Saturday, December 23, 2017

Jamie Dimon Has Boldly Gone Where No Man Has Gone Before


Seriously, the Swiss be like, "We thought that we were hard core, but dayyyymmnnnn!"
Last month, we learned that JPMorgan Chase had managed the near-impossible and run afoul of Swiss banking laws, specifically Switzerland’s not-historically-robust anti-money-laundering rules. How bad was Dimon & co.’s transgression? The Swiss were initially awfully Swiss about things, simply letting the bank know it had “seriously infringed” upon their financial hospitality.

Yesterday, that prognosis was upgraded to “seriously breached.” So seriously that a traditional slap on the wrist will not do. No: The Swiss are gonna get all American up in here and install a monitor to make sure it doesn’t happen again, “it” being the gentle washing of “hundreds of millions of dollars” on behalf of the prime minister of Malaysia, who was in the process of allegedly draining that country’s sovereign wealth fund, 1MDB, of several billion dollars.
It buggers the mind.

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