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Author Topic: NY Times: HSBC Money Laundering - Too Big to Indict?  (Read 1346 times)
elux
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December 14, 2012, 02:47:12 AM
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Quote from: New York Times Editorial
It is a dark day for the rule of law. Federal and state authorities have chosen not to indict HSBC, the London-based bank, on charges of vast and prolonged money laundering, for fear that criminal prosecution would topple the bank and, in the process, endanger the financial system. They also have not charged any top HSBC banker in the case, though it boggles the mind that a bank could launder money as HSBC did without anyone in a position of authority making culpable decisions.

Clearly, the government has bought into the notion that too big to fail is too big to jail. When prosecutors choose not to prosecute to the full extent of the law in a case as egregious as this, the law itself is diminished.
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http://www.nytimes.com/2012/12/12/opinion/hsbc-too-big-to-indict.html
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Endgame
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December 14, 2012, 12:31:20 PM
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Very interesting article. It does seem like HSBC just bought their way out of trouble with this $1.9 Billion settlement. HSBC appears to have been turning a blind eye to this kind of activity for a long time, for its own profit. If flagrant money laundering of mexican drug cartel and terrorist funds doesn't lead to criminal prosecution, what does?
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December 14, 2012, 05:21:11 PM
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When prosecutors choose not to prosecute to the full extent of the law in a case as egregious as this, the law itself is diminished.

The law is not diminished.  The law is destroyed.

In the early 90's black people told me they didn't need to follow the law because the government broke the law by bringing cocaine into their communities.  I thought both that conspiracy theory and that justification for criminality were absurd.

Now I agree with them.  If the government does not follow the laws, I am under no obligation to do so.  I reverted to ancient Natural Law and now encourage everyone to violate government laws every time they are able to do so and avoid prosecution.

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Dalkore
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December 14, 2012, 06:59:59 PM
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This is a complete failure.  There is now TWO (2) laws that government the United States.  If you have major influence and power, you get to do vast criminal activities and the state uses your vital place in the current societal order to justify not applying the same law equally.  Once we let this stand, we will likely start to see a break and collapse in order and social justice.

This is against everything we stand for, it is absurd.


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December 14, 2012, 07:41:30 PM
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Get ready for the big surprise!

There's two applications of justice, one for the wealthy and connected aristocracy, another for the plebes.
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December 14, 2012, 07:46:59 PM
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Get ready for the big surprise!

There's two applications of justice, one for the wealthy and connected aristocracy, another for the plebes.
Pity we can't afford to buy politicians... Then we could have justice, too.

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December 14, 2012, 08:09:16 PM
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Get ready for the big surprise!

There's two applications of justice, one for the wealthy and connected aristocracy, another for the plebes.
Pity we can't afford to buy politicians... Then we could have justice, too.


Too true.

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December 14, 2012, 08:11:57 PM
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HSBC folks are "job creators". Let them rape you, it's best for all of us.  Wink

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December 14, 2012, 08:19:22 PM
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There's two applications of justice, one for the wealthy and connected aristocracy, another for the plebes.

No surprise.  This situation has existed for seven thousand years.

The degree of elite criminality fluctuates.  When it gets bad enough, violence in self-defense becomes an ethically justifiable option.

Heads roll.  Necks get stretched.  Let's make it theirs, not ours.

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Charlie Prime
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December 15, 2012, 02:53:00 PM
 #10

Rolling Stone had a decent article on this...

http://www.rollingstone.com/politics/blogs/taibblog/outrageous-hsbc-settlement-proves-the-drug-war-is-a-joke-20121213

"If you've ever been arrested on a drug charge, if you've ever spent even a day in jail for having a stem of marijuana in your pocket or "drug paraphernalia" in your gym bag, Assistant Attorney General and longtime Bill Clinton pal Lanny Breuer has a message for you: Bite me."

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