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

[Monkey see Monkey Do]

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.

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

related:

Kerry takes a poke at UK tax havens

John Kerry, the Democrat presidential hopeful, has promised to lead a crackdown on Britain's tax havens if he is elected. In a speech to supporters,

Kerry promised to tackle tax evasion and banking secrecy, and singled out Bermuda and the Cayman Islands, both British-owned territories, for criticism. 'There are enough brass-plate companies down in the Cayman Islands to make anybody in America sick when they look at their own tax bill,' he said.

http://observer.guardian.co.uk/business/story/0,6903,1148160,00.html

& see also:

No 10 unease at Brown's contacts with John Kerry

http://news.independent.co.uk/uk/politics/story.jsp?story=491464

[junker]

1. If Kerry thought BCCI was bad, I challenge him to read the material at GAT

If Kerry thought BCCI was bad, I challenge him to read the material at GATA.ORG.....

what the elitist-scum and their scum-sucking-politician minions have done to this country is disgusting. GATA.ORG has the facts that underly the scandal which will break with the dollar's demise in the next few months and reveal that the top 5 banks that own our nation, and their spin-offs the GSE's have created a derivatives nightmare which has not only doomed the dollar, but will beggar most of the planet. Remember, it is the middle, and working classes who suffer the currency collapses historically. Only one exception in recent history and that involved the guilotine....

I realize that the precision and emotive qualities of the language I use on this subject make some think I am merely a pessimist or a cassandra, however, please note that neither makes what I say either untrue or immaterial to your lives.

I challenge Kerry and or his economic staff advisers to a debate on the state of the markets. fiat currency and the manipulation thereof by the Presidential Working Group on Markets aka the Plunge Protection Team, and the upcoming debacle of a financial meltdown....

and imagine, for the minute, what happens to the election if I am correct; would it be a case of Bush 2 being Hoover 2 in Depression 2, or would it be the ultimate rationale for Bush Coup? NOT that the BUSHIES would ever do anything UNDERHANDED to seize power.....nope not that bunch...but the collapse of the global reserve currency brings pain and confusion and chaos on scales we cannot predict.

I note with satisfaction the courage of Kuncich to face economic realities....does that courage exist still in the former war hero, Kerry?

We'll see...