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In reply to the discussion: Allow me to join Manny in my condemnation of Matt Taibbi. [View all]Octafish
(55,745 posts)10. Like the time when HSBC made $22 billion and got fined $2 for drug money laundering?
A slap on the wrist! Are you kidding me? People get their lives ruined for bouncing a check and banksters get away, scot-free.
Slap on the wrist for drug dealer's bank
Justice Department outlines HSBC transactions with drug traffickers
By Peter Finn and Sari Horwitz
Washington Post, Tuesday, December 11, 6:18 PM
Mexicos fearsome Sinaloa Cartel was so practiced at laundering millions of dollars in drug profits at the Mexican branches of the global bank HSBC that it packed bulk cash in boxes that were measured to slide neatly under the teller windows.
The Justice Departments record $1.9 billion settlement Tuesday with HSBC exposed the continuing ability of drug cartels, rogue nations and terrorist financiers to move billions of dollars through the international and U.S. banking systems.
SNIP...
But a string of august names in global banking Credit Suisse, Lloyds Bank, ABN Amro, ING Bank N.V. and now HSBC have reached settlements in the last couple of years with the U.S. government for billions of dollars in tainted transactions. These investigations have revealed that weaknesses in the financial system lay not with the so-called hawala brokers of Karachi, Pakistan, but the bespoke bankers of London, Amsterdam and Geneva, and their American affiliates.
SNIP...
One of the worlds largest banks, HSBC has its headquarters in London and $2.5 trillion in assets. It earned nearly $22 billion in profits in 2011.
CONTINUED...
http://www.washingtonpost.com/world/national-security/justice-department-outlines-hsbc-transactions-with-drug-traffickers/2012/12/11/1b8130c4-43bf-11e2-8061-253bccfc7532_story.html
Gee, Mr. Holder. You'd think someone would be going to jail or losing a business or their reputation. But, no. "Time to move on."
Cass Sunstein would approve.
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Like the time when HSBC made $22 billion and got fined $2 for drug money laundering?
Octafish
Jan 2013
#10
Will one of you guys expose how these right wing think tanks for blog posts work?
grahamhgreen
Jan 2013
#77
The point that you think a post about Naomi Wolf is actually about Naomi Klein?...
SidDithers
Jan 2013
#19
I also get them confused with Nomi Prins. All 3 loathe corruption, warmongers and banksters.
Octafish
Jan 2013
#66