Obama May Face French Backlash Over BNP Prosecution In Meeting This Week

As the Department of Justice continues to aggressively prosecute foreign banks, a meeting between the Obama administration and French officials this week could get explosive. $10 billion fine significantly higher than that for repeat offender HSBC According to a Bloomberg report, DoJ’s $10 billion fine against France’s largest bank is “stirring outrage in the country” which is putting pressure on French President Francois Hollande to “protect the bank from the American onslaught.” The DoJ has charged numerous large foreign banks in serious criminal matters. Credit Suisse Group AG (ADR) (NYSE:CS) was recently forced to admit criminal guilt in a US tax…