Look, just because a senior executive of JP Morgan Chase hopped on board last week as Obama’s Chief Of Staff and is a long-time friend of his from Chicago too, doesn’t mean there’s any kind of shenanigans going on with JP Morgan Chase ordering all foreign embassy bank accounts closed throughout their company.
Of course, it’s a foreign media outlet with the story (AFP).
A top US State Department official on Thursday sought to ease diplomatic anger among UN states about the closure of embassy accounts by US banks. Permanent members of the UN Security Council, such as France and China, are among scores of countries told to find a new bank after JPMorgan Chase told diplomatic missions in Washington and New York to close their accounts by March 31.
Patrick Kennedy, an under secretary of state, met representatives from more than 150 countries at the UN headquarters to answer worries over the accounts. He told reporters afterwards that Secretary of State Hillary Clinton and Treasury Secretary Timothy Geithner were involved in efforts to persuade banks to reconsider their decision and to get other banks into the diplomatic business. US officials have insisted though that the banks had taken a “business decision.”
Obama, a Clinton, a Kennedy, now add a Daley and of course, the ever-present Oval Office insulator, Tim Geithner.
A match made in Hades itself.
Best read the entire article, okay ? The last thing I am is a financial type, or some political prognosticator, but the whole thing smells so bad that I needed an entire case of air freshener just to type this diary.
This is not the only incident. It’s been going on mostly in the background for a bit of time.
Along with JP Morgan Chase, Bank Of America, Citigroup and HSBC already knocked embassies out of their client list.
At least someone in America is aware of it though. The following is from The Wall Street Journal dated 20 November 2010.
Some of the nation’s largest banks are exiting or scaling back their dealings with foreign embassies and missions in the U.S. because of the burden of complying with money-laundering regulations.
The moves could strain U.S. foreign relations. The State Department said that about 40 countries have been affected, 16 of which are African nations.
So from where exactly did this generate ?
In other words, who provided the “nudge” to get this whole thing started ?
Some folks who don’t exactly see eye-to-eye with folks on our side of the fence, might call this diary ongoing proof of another crazy lunatic right-winger lying about what’s going on. Plus they’ll hem and haw that none of it is what it appears to be because the administration only has the good of the nation and her people at it’s core.
And many people on our end of the street still say “it can’t happen here”.
Guess what ?
It’s not crazy and it is happening here. The balloon can easily go up from something not yet on anyone’s radar – something like this bank account deal.
We’re entering some extremely dangerous territory.
10….. 9….. 8….. 7……………
Tool up…… It’s coming…… You know…… “It”.