Reply #46: when questions are left unanswered and requested access goes unanswered... giggle, giggle [View All]

[blm]

commonly called closed the books.

giggle, giggle.....pretend, pretend.....so amusing. All because your hero is no hero.


The End of the B.C.C.I. Case?


Published: August 19, 1993

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Both Mr. Altman and Mr. Clifford, who was too ill to stand trial, claim vindication. Yet their satisfaction needs to be tempered by remorse. Both men put their good reputations on the line for some obviously shady characters.

The verdict confirms that however much B.C.C.I. sought a foothold in American banking, its major criminal mischief in the form of drug financing, money laundering and banking fraud occurred abroad. That's where most of the victims, depositors and shareholders in a $12 billion bust reside, and where several nations must continue to search for wrongdoers.

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In earlier testimony before a Senate investigating committee, Mr. Clifford and Mr. Altman said they had naively assured Federal regulators that First American was free of B.C.C.I.'s control. They said they had been duped about the international bank's illegal activities. Intentionally or not -- and intent matters a lot -- they were highly compensated for putting their own reputations on the line for B.C.C.I. The jury verdict found no crime -- either because there was insufficient proof of B.C.C.I. control, or insufficient proof of intent to mislead, or both.

The acquittal may prompt the Justice Department to abandon any plans it may have had to prosecute its own case. That would extricate both men from criminal liability, though not from pending civil lawsuits -- including one from the Federal Reserve Board, which insists that it was deceived about B.C.C.I.'s role in American Bankshares. Mr. Morgenthau, meanwhile, still hopes to bring B.C.C.I.'s overseas leaders to trial in New York.

Perhaps other investigations at home and abroad will bring more telling evidence to the surface. Even though the New York inquiry hit an embarrassing snag, it is much too soon for the Justice Department to walk away from the unanswered questions -- including why Justice itself failed for years to help Mr. Morgenthau and Senator John Kerry of Massachusetts in their efforts to expose B.C.C.I.'s corruption.
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But....Clinton's DoJ DID walk away from all the unanswered questions.....and Clinton wouldn't even mention BCCI one time in his entire book. Your hero. And now we have collapsed economic system because all the principles involved in every banking scandal learned there is no danger in cooking the books, even when abetting global terrorism.