Federal and state prosecutors have reached settlements with large international banks, including ING and the BritishbankStandardChartered, for their sanctions busting transactions with countries such asCuba andIran.
Philip Cracknell of StandardChartered, a Britishbank, says that Korean banks have been raising money abroad to repay some of their government-guaranteed borrowings.
The British Chambers of Commerce, and the StandardCharteredBank have also said that unemployment could reach about 3 million before the recession ends.