Bailed-Out US Banks and Iran Policy



“LONDON (Reuters) - Bank of AmericaMerrill Lynch has dropped Dubai state-controlled Dragon Oil as a client because of its ties with Iran, sources close to the matter said, in a sign the United States may be using its clout with bailed-out banks to achieve foreign policy goals. “Dragon Oil said on Monday that BoA Merrill Lynch, an investment banking unit of Bank of America, the beneficiary of a $45 billion state bailout, was no longer advising it on ongoing takeover talks. .....

"Merrill Lynch have had to relinquish the mandate following an internal issue with Bank of America," a spokesman at Dragon said. A spokeswoman for Merrill said the bank had withdrawn for "internal legal reasons". She declined to elaborate, but said there had not been an issue with Dragon itself. Dragon is now being advised by HSBC, a global bank with headquarters in Britain........”
More on this later...
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mhg
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Posted by Mohammed Haider Ghuloum PhD at 8/18/2009 7:35 PM
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