It's now been almost exactly 20 years since the last meltdown and exposure of a fraudulent bank, in this case, the notorious Bank of Credit and Commerce International, or BCCI as the scandal became known. Sarcastically, as the exposure of the CIA, drug cartels, Manuel Noriega and a host of others in the affair slowly came to light, the bank was known as the Bank of Crooks and Criminals International. It followed a long series of other such scandals: the Franklin Bank scandal, the collapse of Penn Square, the Banco Ambrosiano and Banco Lavoro scandals, tied to the Vatican, the whole P-2 … [Read more...]