Too Big to Jail: Big Banks Can Finance Terrorists
Dec 13, 2012 19:48:53 GMT -5
Post by popcorn on Dec 13, 2012 19:48:53 GMT -5
Too Big to Jail: Big Banks Can Finance Terrorists and Walk Away Scot-Free 
Asia-focused bank HSBC said on Tuesday it would pay US authorities a record $1.92 billion to settle allegations of money laundering that were said to have helped Mexican drug cartels, terrorists and Iran
The New York Times reports this week that megabank HSBC has escaped criminal prosecution for money laundering that probably funded terrorists and narcotics traffickers. Why? Because regulators and prosecutors were petrified that an indictment would undermine the entire financial system. The Times quotes anonymous government sources who confessed fears about bringing formal charges because doing so would be a "death sentence" for the bank. So they let it off the hook.
read more:
www.alternet.org/economy/too-big-jail-big-banks-can-finance-terrorists-and-walk-away-scot-free
Asia-focused bank HSBC said on Tuesday it would pay US authorities a record $1.92 billion to settle allegations of money laundering that were said to have helped Mexican drug cartels, terrorists and Iran
The New York Times reports this week that megabank HSBC has escaped criminal prosecution for money laundering that probably funded terrorists and narcotics traffickers. Why? Because regulators and prosecutors were petrified that an indictment would undermine the entire financial system. The Times quotes anonymous government sources who confessed fears about bringing formal charges because doing so would be a "death sentence" for the bank. So they let it off the hook.
read more:
www.alternet.org/economy/too-big-jail-big-banks-can-finance-terrorists-and-walk-away-scot-free
