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Clearstream is a wholesale bank clearinghouse that is only supposed to have financial institutions for customers - no individuals or retail businesses.  They have quite strict anti-money laundering and know-your-customer practices to protect against problems because they concentrate so much of the global financial market's settlement flows in the interbank markets.  

For phoney accounts to be set up for French politicians in Clearstream would take some pretty intensive activity and probably overrides of internal controls.  Insiders would have to be involved.  

Add to that that Clearstream is now owned by Deutsche Bourse - the German securities market - and you have the makings of pretty damn big scandal if any of this is true.

I'm not sure whether I believe it or not without more facts than are given here.

by LondonYank (LondonYank (at) aol.com) on Fri Apr 28th, 2006 at 10:21:12 AM EST

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