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Gangster Bankers: Too Big to Jail
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How HSBC hooked up with drug traffickers and terrorists. And got away with it
Matt Taibbi is back exposing the deal they snuck under the table for HSBC who got caught money laundering for drug dealers and terrorists. The bankers have been getting away with unbelievable fraud because they have been blackmailing government arguing who will sell their debt if they go down. The days of these bankers are really coming to an end. Once the Economic Confidence Model turns 2015.75, this will begin to look rather grim as they blow-themselves-up once again. Bankers simply follow the money and that is why they always collapse for they have no ethics or long-term strategy. They go with the trend until it takes them down EVERY time.
Martin Armstrong
The deal was announced quietly, just before the holidays, almost like the government was hoping people were too busy hanging stockings by the fireplace to notice. Flooring politicians, lawyers and investigators all over the world, the U.S. Justice Department granted a total walk to executives of the British-based bank HSBC for the largest drug-and-terrorism money-laundering case ever. Yes, they issued a fine – $1.9 billion, or about five weeks' profit – but they didn't extract so much as one dollar or one day in jail from any individual, despite a decade of stupefying abuses.
People may have outrage fatigue about Wall Street, and more stories about billionaire greedheads getting away with more stealing often cease to amaze. But the HSBC case went miles beyond the usual paper-pushing, keypad-punching sort-of crime, committed by geeks in ties, normally associated with Wall Street. In this case, the bank literally got away with murder – well, aiding and abetting it, anyway.
[link to www.rollingstone.com]
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