Money-Laundering Banks Still Get a Pass From U.S.
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April 1 (Bloomberg) -- Money laundering by largeinternational banks has reached epidemic proportions, and U.S.authorities are supposedly looking into Citigroup Inc. andJPMorgan Chase & Co.
Governor Jerome Powell, on behalf of the Board of Governorsof the Federal Reserve System, recently testified to Congress onthe issue, and he sounded serious. But international criminalsand terrorists needn’t worry. This is window dressing: Complicitbankers have nothing to fear from the U.S. justice system.