Thursday, February 14, 2013

HSBC the Gangsters Bankers - too big to jail or fine

This was a new low when I read about the US Dept. of Justice settlement with HSBC at the end of last year.  HSBC blatantly ignored international banking laws and laundered money used to finance drug lords and terrorists.  And, no one is held responsible for fear of disrupting the banking system.  Taibbi does a good, entertaining job of telling the story.  
HSBC the Gangster Bankers - Matt Taibbi

There must have been many, many people at the bank complicit in the money laundering.  How can they live with themselves knowing that they aided such violent criminals.  Maybe the bonus money bought them enough liquor, luxury cars, and vacations to suppress their memories. 

And to the US DoJ, its about time that you consider the disruption to the banking system if you do not prosecute and punish these types of actions.  For how many people was this the last straw of evidence of a corrupt financial system.  The last straw that shattered their confidence and inspired them to act, if only to remove their precious savings from the financial-political pyramid scheme.  

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