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You know that it's illegal for actual banks to assist in money laundering right? You know that when a bank does it though, nobody gets arrested right? They ju

by 300bps 13y ago

You know that it's illegal for actual banks to assist in money laundering right? You know that when a bank does it though, nobody gets arrested right? They just get a small fine that is a fraction of their net profit from their illegal activities. When someone with Bitcoin is accused of money laundering, everyone involved is arrested and every asset they have is immediately frozen. It's a tremendous double standard. http://www.rollingstone.com/politics/blogs/taibblog/outrageous-hsbc-settlement-proves-the-drug-war-is-a-joke-20121213#ixzz2on2hF9sl http://www.rollingstone.com/politics/blogs/taibblog/outrageo...

logfromblammo 13y ago
From the evidence available to us, HSBC has been a naughty, naughty bank, laundering drug money with impunity. The fines levied against HSBC for these activities have been laughably small. It's not really a double standard, though. It only appears that way if you believe our society to be founded upon the foundations of justice and law. If you believe it is founded upon the premise that the powerful cannot be wrong, it makes perfect sense.
coldtea 13y ago
>This issue was brought to my attention by pals who had investigated Julia and rejected it for this very reason. You know that it depends, right? With some heavy big banks nobody gets arrested, with others, and especially smaller ones, people go to jail. Also the US isn't the only country with such laws -- people have gone to jail in other countries.
gnaritas 13y ago
> It's a tremendous double standard. And a terrible legal argument.
grkvlt 13y ago
You know that when a bank does it though, nobody gets arrested right? They just get a small fine that is a fraction of their net profit from their illegal activities. That is to say: 'You know that one of the times a bank did this, nobody got arrested right? ...' You can hardly generalise from the one exceptional case recently involving HSBC to the conclusion that all banks everywhere always get away with money laundering.

by 300bps 13y ago

logfromblammo 13y ago

From the evidence available to us, HSBC has been a naughty, naughty bank, laundering drug money with impunity. The fines levied against HSBC for these activities have been laughably small. It's not really a double standard, though. It only appears that way if you believe our society to be founded upon the foundations of justice and law. If you believe it is founded upon the premise that the powerful cannot be wrong, it makes perfect sense.

coldtea 13y ago

>This issue was brought to my attention by pals who had investigated Julia and rejected it for this very reason. You know that it depends, right? With some heavy big banks nobody gets arrested, with others, and especially smaller ones, people go to jail. Also the US isn't the only country with such laws -- people have gone to jail in other countries.

gnaritas 13y ago

> It's a tremendous double standard. And a terrible legal argument.

grkvlt 13y ago

You know that when a bank does it though, nobody gets arrested right? They just get a small fine that is a fraction of their net profit from their illegal activities. That is to say: 'You know that one of the times a bank did this, nobody got arrested right? ...' You can hardly generalise from the one exceptional case recently involving HSBC to the conclusion that all banks everywhere always get away with money laundering.