In the past 48 hours, police in the U.K. and Germany have arrested senior bank executives for serious crimes. On Wednesday, Deutsche Bank offices were raided by 500 police because the CEO and CFO are under investigation for tax evasion.
Meanwhile in the U.S., the Justice Department signed a settlement with HSBC Bank on Tuesday, for its involvement in money laundering, drug smuggling, and providing support to terrorists. HSBC Bank paid a trivial half of one quarter's profits and no executive will be criminally prosecuted.
2. Europeans do seem to have stricter regulations and
We have learned that we cannot live alone, at peace; that our own well-being is dependent on the well-being of other nations far away. ... We have learned to be citizens of the world, members of the human community. ... We shall strive for perfection. ... We may make mistakes, but they must never be mistakes which result from faintness of heart or abandonment of moral principle.