September 22, 2009 By Citizen M

A (Temporary?) Resolution to the Bank of New York Money Laundering Epic

Of all the coverage coming out of the recent judgment on the Bank of New York Mellon money laundering case, Fortune’s coverage appears to be the most thorough so far, not to mention that it immediately won me over with its headline: “Russia settles suit against U.S. bank for a pittance”.

So that we’re all on the same page here, the $14 million settlement sum is exactly 0.0622 percent of the $22.5 billion Russia was seeking. NOT 6.22%, but slightly more than six hundredths of 1%.

Having said that, two passages from the Fortune article strike me. The first, on the amount itself:

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