Old Lady won't be keen on President Kerry (BCCI)

[Widgetsfriend]

http://politics.guardian.co.uk/economics/story/0,11268,1148264,00.html


If John Kerry, the Democrat from Massachussetts, gets to the White House this November, they won't be cheering his victory in Threadneedle Street.

He may be riding high in the US presidential race today, but Kerry first came to Britain's attention as the senator who accused the Bank of England of turning a blind eye to fraud at BCCI.

Kerry led the Senate's investigation into BCCI's multibillion-dollar crash, and here's what he had to say: 'The Bank of England delayed unconscionably in closing BCCI, and millions of investors were hurt... It was negligent and costly... I'm saying very directly that the Bank of England had sufficient information in front of it to close BCCI 15 months earlier than it did.'

That was back in 1992, and it's not something the Bank needs to be reminded of. But Kerry is probably one of the few people in the world who know the vast and complex BCCI affair inside out. He is one of the Old Lady's sharpest critics and, come New Year, he could also be the world's most powerful man.


Interesting take on Kerry's relationship with the BCCI scandal. Link found at www.Buzzflash.com.

Edited to add a link to DU forum (archive) on BCCI.
http://www.democraticunderground.com/cgi-bin/duforum/duboard.cgi?az=show_thread&om=11956&forum=DCForumID61