Maybe our Bankers should hire these guys

Goldman Sachs is the latest group of bankers to become the target of Congress. With only 29% of voters considering voting for incumbents in the fall elections, those in Congress are keeping their heads down and simultaneously looking for some way to divert voter anger.

What's an investment banker to do? Well, perhaps they could take a note from Iran's playbook. The New York Times ran are article on June 7th exposing Iran's network of disguised ships and shell companies which allow it to circumvent international sanctions.

Tricks include reregistered ships, which includes changing flags and "owners, operators and managers, too," and succeeds in avoiding the U.S. blacklist on "Islamic Republic of Iran Shipping Lines" (Irisl) ships. According to the times, of 123 ships on the original list, only 46 are still registered to Irisl. The remaining 73 are now registered to foreign companies that are nothing more than Iranian shell companies.

The Times also reports that Iran has buried ties with ships built since the blacklist, making it difficult to link new ships to that government. The Times reported that three new companies have mysteriously appeared in Iran. Hafiz Darya, a supposedly private company, announced that it had taken over Irisl—one of the world's largest shipping companies. All these new companies were later found to be registered to Irisl addresses throughout Tehran and are run by Irisl managers.

Under secretary of the Treasury Stuart Levey was reported in the Times as saying "We are dealing with people who are as smart as we are, and of course they can read our list."

Yep, sounds like the bankers, brokers and hedge fund managers aren't the only one's adept at avoiding regulations. However, Iran has succeeded to a degree that Goldman Sach's would envy. Perhaps Iranian president Mahmoud Ahmadinejad should be approached for advice.

Click Here for the Link to the New York Times Article