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Crimes of money laundering of Mexican cartels.  Ignoring UN sanctions on countries and banks tied to terrorist organizations.  And who knows what else.

And the world sleeps on.

Innocent people were killed today in Portland, Or, and I'm sorry about that, but the amount of damage that HSBC has done over the last 20 years is unimaginable.

Yet the world sleeps on.

There was a time when money laundering, especially drug money, would have meant a prison sent ante.  There was a time when aiding terrorist organizations meant a life sentence.  But no longer.

HSBC is found guilty of these crimes and no one is held accountable.

The world sleeps on.

Wake up!

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Comment Preferences

  •  What is HSBC? (1+ / 0-)
    Recommended by:
    renzo capetti

    The spirit of liberty is the spirit which is not too sure that it is right. -- Judge Learned Hand, May 21, 1944

    by ybruti on Tue Dec 11, 2012 at 10:38:52 PM PST

    •  A British bank (1+ / 0-)
      Recommended by:
      renzo capetti

      Which was just fined 1.9 billion dollars for laundering Mexican drug money, helping Iran evade sanctions and making deals with banks known to fund terrorist org.

      •  and before anyone thinks $1.9B is a lot (1+ / 0-)
        Recommended by:
        renzo capetti

        it isn't to HSBC. It's chump change and once again, banksters break the law and get away with it.

        -7.5 -7.28, A carrot is as close as a rabbit gets to a diamond.-Don Van Vliet

        by Blueslide on Tue Dec 11, 2012 at 10:54:39 PM PST

        [ Parent ]

        •  The fine will be passed on to customers (2+ / 0-)
          Recommended by:
          buckstop, renzo capetti


          If this were a just world, executives from that bank would be be put in jail for the rest of their lives. Hell, if you or I had been been helping terrorists in a remotely similar manner, we'd probably be looking at a death sentence. As it stands, the vile criminals remain free to collect their Christmas bonuses.

          The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. -- John Kenneth Galbraith

          by richardak on Tue Dec 11, 2012 at 11:05:04 PM PST

          [ Parent ]

    •  ybruti - the parent of (3+ / 0-)
      Recommended by:
      ybruti, buckstop, renzo capetti

      Hong Kong and Shanghai Bank Corporation, formed in 1865 the largest bank in Hong Kong and a dominant bank in China and Asia. The headquarters of the holding company are now in London. A summary of HSBC which is traded on the NYSE under the symbol HBC.

      A summary of Hong Kong and Shanghai Bank

      "let's talk about that"

      by VClib on Tue Dec 11, 2012 at 10:55:16 PM PST

      [ Parent ]

    •  Hongkong Bank of Canada (3+ / 0-)
      Recommended by:
      soaglow, ybruti, renzo capetti
      HSBC Bank Canada, formerly the Hongkong Bank of Canada (French: Banque HSBC Canada), is a bank in Canada that is part of British banking giant HSBC - one of the largest banking groups in the world. HSBC Canada is the seventh largest bank in Canada, with offices in every province except Prince Edward Island, and is the largest foreign-owned bank in the country. Corporate headquarters are in the financial district of Vancouver, British Columbia. HSBC Bank Canada's Institution Number (or bank number) is 016.
      from Wiki

      It's an international bank, really. It started out as The Hongkong and Shanghai Bankiing Corporation and it just kept acquiring more and more smaller banks.

      This would be an interesting story, if there were some links. I was interested in what they did to help create the 2007 crash.

      ❧To thine ownself be true

      by Agathena on Tue Dec 11, 2012 at 11:35:59 PM PST

      [ Parent ]

  •  Too Big To Fail again (3+ / 0-)
    Recommended by:
    buckstop, renzo capetti, richardak

    NY Times article

    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.
    Until these banks have to worry about being indicted on criminal charges they'll keep doing what they've been doing.  $1.9B is chump change to HSBC and they'll gladly pay another fine of that size if they make 10 times the fine continuing to do illegal shit.
  •  HSBC also offers auditing services (0+ / 0-)

    to offer guidance to other banks' AML/Regulatory departments.

    In layman's terms it's like asking Dick Cheney to offer advice on morals and ethics.

    "That great things take many people working together, to make them happen, is one of the fantastic things of human existence." - Adam Steltzner

    by Fauxton on Wed Dec 12, 2012 at 07:18:49 AM PST

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