This is why blm has been pounding on this story, folks. Every covert activity of the BFEE has its roots in BCCI.
http://politics.guardian.co.uk/economics/story/0,11268,1148264,00.html Old Lady won't be keen on President Kerry
Conal Walsh on how the Democrat was a big critic over BCCI
Sunday February 15, 2004
The Observer
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.
<>At the time, the Bank tried to dismiss Kerry's conclusions as 'extraordinary' and having 'no factual basis'. But later it was also pilloried by the official British report into the BCCI disaster, and these days not even the Bank denies that it was at fault. After all, it was financial regulator when the London-based finance house collapsed in 1991 with £7 billion of undeclared debts - the biggest banking fraud in history.