I always learn something new on my daily stagger throughthe hall of mirrors known as the NY Times. Today I learned that dealing with Iran is goodbad. Or is that badgood?
First, Standard Chartered is in trouble:
Regulator Says British Bank Helped Iran Hide Deals
Using its New York-based operations, a major British bank schemed with the Iranian government for nearly a decade to launder $250 billion, leaving the United States financial system vulnerable to terrorists and corrupt regimes, New York’s top banking regulator charged on Monday.
That is very serious and the stock action reflects it, as the shares slide more than 20%.
On the other hand, dealing with Iran is not so bad if you work for Obama:
WASHINGTON — The White House defended President Obama’s senior adviser on Monday for taking $100,000 in speaking fees before joining the government from a subsidiary of a company working with the Iranian government.
David Plouffe, who managed Mr. Obama’s campaign in 2008 and joined the White House staff in January 2011, accepted the money from an affiliate of MTN Group, a South Africa-based telecommunications firm, for two speeches in Nigeria. MTN is part of a joint venture in Iran’s mobile communications market reportedly linked to the Islamic Revolutionary Guard Corps.
The White House rejected criticism of Mr. Plouffe’s dealings with the firm, saying that MTN was not a major focus of those seeking to cut off business with Iran when it issued the invitation in the spring of 2010. “Even the most zealous watchdog group on this issue did not start their campaign on the host’s holding company until many months later,” said Eric Schultz, a White House spokesman. “Criticism of Mr. Plouffe now for issues and controversies that developed only years later is simply misplaced.”
Well, then. That was just patriotic outreach, or something.