The changes proposed now by the Obama administration and Secretary Lew will render all of those reassuring prohibitions true but irrelevant. That is because Treasury will create administrative work-arounds that enable Iranian banks to achieve the same effects as all of these direct relationships with U.S. financial institutions without Iran actually having any such direct relationships. Isn’t that special?

They’ll just be indirect relationships. No doubt the indirectness of the relationship will be a great comfort to people around the world who are blown up by bombs purchased with U.S. dollars provided by Iran. After all, it’s so much more comforting to be murdered by bombs purchased indirectly.


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Lori Lowenthal Marcus is a contributor to the A graduate of Harvard Law School, she previously practiced First Amendment law and taught in Philadelphia-area graduate and law schools. You can reach her by email:
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