“HMMMMmmm Steel was in Chicago and London”
He had London connections with GS (lived there) and then did that short stint at Barclays.
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Barclays Bank, 2005–06
From June 1, 2005 to October 11, 2006, Steel served on the board of directors of Barclays Plc.[4]
In 2005 he helped settle a conflict between Barclays’ commercial and investment divisions over who would serve a newly purchased South African bank.
Treasury Secretary Henry Paulson later said of Steel: “He’s very good at smoothing over conflicts; and when there’s tensions, bringing the temperature down.”[5] Wikipedia
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This position seems a little odd to me. Given the timing in the chronology, I am suspicious there was more to it.
Remember seeing a drug route from Afganistan to US years back....Can’t remember if South Africa was on it. But don’t they have a fairly open banking system? An entry point from Asia to Europe?
I see a pattern ...
http://www.upi.com/Business_News/2006/06/22/Barclays-buys-Wachovia-unit-for-469M/UPI-69751151006554/
Barclays buys Wachovia unit for $469M
Published: June 22, 2006 at 4:02 PM
NEW YORK, June 22 (UPI) — Barclays Bank PLC is paying $469 million to Wachovia Corp. to buy the U.S. mortgage servicing business of HomEq Servicing Corp.
(snip).
It also said it sees the deal as an opportunity to “grow our existing U.S. mortgage securitization franchise.”