5 ms·
Right. So taking HSBC to trial for rampant, repeated money-laundering for drug cartels would have been more fitting of a dictatorship? Instead we let a criminal
by rsingel 13y ago
Right. So taking HSBC to trial for rampant, repeated money-laundering for drug cartels would have been more fitting of a dictatorship? Instead we let a criminal conspiracy go unpenalized except for a lame monetary settlement.
Warren's dead right. The finance guys all know they'll almost never get prosecuted.
http://www.guardian.co.uk/business/2012/dec/11/hsbc-bank-us-money-laundering http://www.guardian.co.uk/business/2012/dec/11/hsbc-bank-us-...
- joshuaheard 13y agoA $2 billion fine (from the article) is hardly "unpenalized".
- EScott11 13y agoIt is when the company in question has a market cap of more than $100 billion.
- eightyone 13y agoThey paid a $1.92-billion fine after laundering $881-million of drug money. Also, dont forget that they helped finance terrorists. [1] No one at HSBC went to jail. If you get caught with an ounce or two of cannabis, you're going to prison for 10 years. That's messed up. [1] http://dissenter.firedoglake.com/2012/12/16/hsbc-executives-get-no-jail-time-for-terrorist-financing-while-somali-sentenced-for-giving/ http://dissenter.firedoglake.com/2012/12/16/hsbc-executives-...