British MPs have passed a law exempting them from being scrutinized by banks for associations with money launderers, terrorists, and corruption. I’m simply astounded by their shamelessness, some claiming that this was to protect their “grannies” banks. From Guido Fawkes:
George Osborne this afternoon accepted an amendment to the Financial Services Bill which will see some Politically Exposed Persons and their families exempted from these anti-money laundering rules. Ministers will now “exclude… specified categories of persons” from the list of so-called PEPs, as Osborne says it is “disproportionate”for banks to include MPs and relatives on the watch list.
And if this doesn’t just reek of colonialism, classism, and exceptionalism, here’s a line from the Mirror reporting on this:
[Charles Walker] sniffed at the “small amount of money” Mr Cameron had made out of the deal, saying it was only “enough to buy a Skoda Octavia.”
Of course, only little people drive those, it’s easy to afford an Aston Martin when you’re above the law.