Russian Bank Scandal

A detailed Summary of Russian Bank Scandal


On October 6, 1999 the news hour with Jim Lehrer air a focus topic called "Following the Money". This focus discussion dealt with the Russian Bank Scandal. This scandal deals with the transfer of about seven billions dollars out of the Bank of New York to companies with Russian associations. Robert O'Harrow , a banking expert for the Washington Post, believes that this scandal will become a serious policy issue. Base on his conclusion of this becoming a serious problem, one may see that there are problems in the banking structure of the United States. In fact there has to be a problem when seven billion dollars of transions are made to foreign soils and no one throws up a red flag. One may also conclude that this scandal reaches further that the banking structure. The question must be ask, "Where is all this money coming from"? This money could be mone


This scandal can be serious external triggering mechanism. With the scandal dealing largely with belief that international money is being used to support illegal activities could cause a major shift in decision making. At the moment the Intensity of this problem has not reach a level of alert. Mainly become most American do not see the potential backlash of this scandal. Once the facts come out and taxpayers are forced to tote the bill of paying back the lost funds then the matter will intensify. Also American can grow tired of given money to a country that does no use money for reasons the money was given to them. Time is a crucial factor in dealing with this scandal. As time goes by more of the true will become available and from that moment we will be able to see whom this scandal will truly affect. Although the Bank of New York has not been charge

Some common words found in the essay are:
Monetary Fund, Bank York, Mainly American, Washington Post, Jim Lehrer, Bank Scandal, banking structure, Robert O'Harrow, , scandal serious, Banking Struture, russian relations, money support, bank york, changes banking, serious effect, changes banking structure,

Approximate Word count = 582
Approximate Pages = 2 (250 words per page double spaced)

Category: History

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