Wachovia and Terrorism

The Triangle Business Journal is reporting that Wachovia had to break off a relationship with a bank based in the Middle East because of allegations that the bank was laundering money for Hezbollah. At this point, I do not know how to comment on the issue. I was thinking: it is a small world, or isn't it nice how global the modern world is. But to be fair, it seems that Wachovia had no involvement and behaved in the appropriate way in cutting off the relationship. I guess this is just one of those head scrathers for a Saturday morning.


I saw a piece about this

in the Charlotte Observer earlier in the week and did the same head scratching. My first thought was that it was a knee-jerk reaction, but I'm going to give them the benefit of the doubt on this one unless I hear otherwise. They did act quickly, which could simply mean they had been keeping an eye on the bank and that would be the responsible thing to do.

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