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WTH? A fine but no jail time for bank officials that laundered money for drug cartels?

kevracer 2012/12/11 21:17:39
Justice Department letting HSBC off too easy
Penalty fits the crime
I hate Obama
I love banks- there should have been no penalties
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Europe's largest bank HSBC will avoid a potentially crippling criminal prosecution for its role in moving cash for known terror groups, Mexican drug cartels, and rogue governments such as Iran, instead agreeing to pay a record $2 billion settlement, U.S. Justice Department officials announced at a press conference today


Announcement of the immense fine was overshadowed Tuesday by efforts to explain why, in one of the clearest cases of criminal money laundering in recent memory, no one would be facing jail time. Criminal conviction on money laundering violations would have also forcibly prevented HSBC from doing business in the United States.

Read More: http://abcnews.go.com/Blotter/hsbc-pay-record-19-b...

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  • Rob Clary 2012/12/11 22:40:01
    I love banks- there should have been no penalties
    Rob Clary
    40 years ago people were being sent to prison for running numbers, but today, the numbers racket is government owned and operated.
    Further, do you really believe that those who decide such penalties are going to send their close friends and associates to prison?
    You're dreaming.
    Everybody's favorite TV shows and movies are gangster genre, so don't go into orbit when gangsters do what gangsters do.
  • Ian 2012/12/11 22:01:38
    Justice Department letting HSBC off too easy
    Ian
    +1
    A law unto themselves.
  • Roger47 2012/12/11 21:30:35
    Justice Department letting HSBC off too easy
    Roger47
    +1
    White collar criminals do not have to serve time in jail except in the most egregious cases. Money buys a different standard of justice.
  • kevracer Roger47 2012/12/11 22:06:13
    kevracer
    laundering money for drug cartels seems pretty high on the egregious scale to me

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2014/07/26 03:06:38

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