Sat Feb 2, 2013, 08:17 AM
xchrom (108,903 posts)
Bill Moyers and Matt Taibbi: Everyone Pays If the Banksters Don't Go to Jail
BILL MOYERS: I t’s time to talk with journalist Matt Taibbi. You’ve seen him on our broadcast before. A contributing editor at “Rolling Stone,” he’s been tracking the high crimes and misdemeanors of Wall Street and Washington for years.
You're working on a story right now that'll come out in a couple of weeks on the HSBC settlement. That's the, tell me about that, why it interests you.
MATT TAIBBI: Well, the HSBC settlement was a really shocking kind of new low in the history of the too big to fail issue. HSBC was a serial offender on the money laundering score. They had been twice given formal cease and desist orders by the government. One dating back as far as 2003, another one in 2010 for inadequately policing the accounts in their system. They laundered over $800 million for cartels in Colombia.
BILL MOYERS: Drug cartels?
MATT TAIBBI: Drug cartels in Colombia and Mexico. They laundered money for terrorist connected banks in the Middle East. Russian gangsters. Literally, you know, I talked to one prosecutor who's, like, "They broke basically every law in the book and they did business with every kind of criminal you can possibly imagine. And they got a complete and total walk." I mean, they had to pay a fine.
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Bill Moyers and Matt Taibbi: Everyone Pays If the Banksters Don't Go to Jail (Original post)
|woo me with science||Feb 2013||#5|
Response to xchrom (Original post)
Sat Feb 2, 2013, 10:35 AM
Octafish (55,738 posts)
6. HSBC? How many ever heard of HSBC, let alone its involvement with LIBOR, money laundering?
Mention it in a room full of journalists and see what happens.