Topic: Standard Chartered

Vice President Joe Biden's "put you back in chains" comment is criticized as scripted racial rhetoric. Meanwhile, Standard Chartered Bank agreed to a $340 million settlement for laundering $250 billion for the Iranian government. The hosts describe the fine as a "VIG" or a "shakedown" that allows the bank to remain profitable despite illegal activity.

The LIBOR manipulation scandal continues to expand as banks begin suing one another over derivative losses. Meanwhile, Standard Chartered is accused of laundering billions for the Iranian government, which some suggest may be a tactic to lower the bank's stock price for a potential takeover.