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Blind As a Banker

Date: July 16, 2004
Author: Steven Pearlstein
QUOTE: Sad to say, it also applies to all the Sgt. Schultzes at the Comptroller of the Currency and the Federal Reserve, who seem to have a problem telling the difference between regulatory compliance and promises of regulatory compliance -- and who cracked down on Riggs only after money-laundering details began to leak out in the press.

ABSTRACT: This column explores the many issues behind the recent Riggs Bank scandal that was investigated by officials at the Federal Reserve. Riggs stands accused of conspiring with Chilean ex-dictator Augusto Pinochet and other rouge leaders in setting up off-shore money laudering accounts.

--- Nathan Hurst

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