Quote:
Originally Posted by crockett
No it's not end of story it's bull shit. The reason the feds didn't go criminal with the case is because yet once again a bank is "too big to fail".
A nice quote on the matter from NYtimes..
"State and federal authorities decided against indicting HSBC in a money-laundering case over concerns that criminal charges could jeopardize one of the world?s largest banks and ultimately destabilize the global financial system."
Clearly showing that if you have enough money you can do the crime with out doing the time. Nice write up on this very subject..
http://dealbook.nytimes.com/2012/12/...ey-laundering/
The end result being the "only" reason criminal charges were not filed was because the bank was too big to fail and bringing criminal charges against it's officers would have caused that failure. This was a criminal act that any lessor organization would have been brought up on these charges, but the justice dept couldn't prosecute HSBC officers due to the reach of the bank's investments, as it would greatly affect the world's economy. |
So again I ask you. You say that the US authorities didn't go far enough. This is a British Bank. Why didn't the UK authorities even file charges or fine the bank? For that matter, this bank has offices in almost every country on the planet, why did NO OTHER COUNTRY file charges or fine them? Where are your critiques of the complete and utter lack of action on the part of every government in which they have an office?
(psssst.... the answer is that NO other country has such strict AML regulations and reporting requirements as the US government.)
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