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| HSBC Banking Executives |
Tucked away in the folds and crevasses
of yesterday's news, a story broke that the British-based bank HSBC was
issued with a $1.9 billion fine for the largest drug-and-terrorism
money-laundering case ever.
For what equates to about five
weeks’ [worth of HSBC] profit. The bank's executives have been
granted immunity from jail. Immunity from any criminal indictments
for aiding and abetting criminal activities, including murder.
What is more astonishing is that the
British Chancellor George Osborne, is activity protecting his banker
friends, by suing the European Union for putting a cap on bankers
bonuses. George Osborne says to deprive the bankers of limitless
bonuses will hurt 'financial stability'.
Its commonly acknowledged throughout
the country that Great Britain is in a bad place, but a stable bad
place. And it is this thinking that continues to keep The Nasty Party
in power, the poor starving and the rich getting away with murder,
satanic abuse and money laundering.
“They violated every ***damn law in
the book,” says Jack Blum, an attorney and former Senate
investigator who headed a major bribery investigation against
Lockheed in the 1970s that led to the passage of the Foreign Corrupt
Practices Act.
“They took every imaginable form
of illegal and illicit business.”
That nobody from the bank went to jail
or paid a dollar in individual fines is nothing new in this era of
financial corruption. What is different about this settlement for the
bankers, is that the Justice Department, for the first time admitted
why it decided to go soft on this particular kind of criminal.
BANKERS ARE TOO CORRUPT TO JAIL.
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| Lanny Breuer |
“Had the U.S. authorities decided to
press criminal charges,” said Assistant Attorney General Lanny
Breuer at a press conference, “HSBC would almost certainly have
lost its banking license in the U.S., the future of the institution
would have been under threat and the entire banking system would have
been destabilized.”
WE WANT STABILITY, SAY WORLD
LEADERS.
People may have other things on their
minds other than about Wall Street and billionaire bankers getting
away with day-light robbery. But the HSBC case went miles beyond the
usual paper-pushing, keypad-punching -sort-of crime, committed by
your trusted banker in a suit. In this case, for at least half a
decade, HSBC helped to wash
hundreds of millions of dollars for drug mobs, including Mexico’s
Sinaloa drug cartel, suspected in tens of thousands of murders just
in the past 10 years – people so totally evil, jokes former New
York Attorney General Eliot Spitzer, that “they make the guys on
Wall Street look good.”
HSBC GOT AWAY WITH MURDER.
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| Mexican Drug Bandit murder victim |
The bank also moved money for
organizations linked to Al Qaeda and Hezbollah, and for Russian
gangsters; helped countries like Iran, the Sudan and North Korea
evade sanctions; and, in between helping murderers and terrorists and
rogue states, aided countless common tax cheats in hiding their cash.
Also known as the Hong Kong and
Shanghai Banking Corporation, HSBC has always been associated with
drugs. Founded in 1865, HSBC became the major commercial bank in
colonial China after the conclusion of the Second Opium War.
Did you know?
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| HSBC bank in Hong Kong |
The Second Opium War was the one where
Britain and other European powers basically slaughtered lots of
Chinese people until they agreed to legalize the dope trade (much
like they had done in the First Opium War, which ended in 1842).
“Our goal here, is not to destroy
a major financial institution.”
Swiss bank UBS, which had just admitted
to a key role in perhaps the biggest antitrust/price-fixing case in
history, the so-called LIBOR scandal, a massive interest-rate rigging conspiracy involving hundreds of trillions (“trillions,”
with a “t”) of dollars in financial products.
While two minor players did face
charges, the assistant attorney general Lenny Breuer from the Justice
Department worried aloud about global stability as they explained why
no criminal charges were being filed against the parent company.
“Our goal here,” Breuer said, “is
not to destroy a major financial institution.”
HOW DID THE HSBC SURVIVE THE
FINANCIAL CRASH?
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| HSBC: The Criminals |
We now know that to survive the 2008
financial bubble, HSBC took a slightly different path, turning itself
into the destination bank for domestic and international criminals of
every possible persuasion.
The Federal Reserve knew what HSBC were
doing. They sent them 30 formal warnings between 2005 and 2006 alone,
to stop their activity or else. So in other words, HSBC broke the law 30 times in just more than a year and got off
scot-free.
AT LEAST IN COMMUNIST CHINA THEY JAIL
BANKERS.
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| Chinese banking executive jailed |
IN GREAT BRITAIN WE SHOULD JAIL THE POLITICIANS TOO, AFTER-ALL GEORGE OSBORNE KEEPS TELLING US TO FOLLOW CHINA'S EXAMPLE.
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| Arrest George Osbourne and the bankers for fraud |
“If you have
clients who are interested in ‘specialty services’ –
that’s the euphemism for the bad stuff – you can charge ‘em
whatever you want,” says former Senate investigator Blum. “The
margin on laundered money for years has been roughly 20 percent.”
To read more visit Rothschild too big to Jail.
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