Categorized | Crime, National

DOJ and HSBC Bank: Too Big to Jail

 

HSBC: The Preferred Bank Of Drug Cartels & Money Launderers

(VIDEO)

 

Why No Criminal Charges?

 

Skippy Massey
Humboldt Sentinel

 

Humboldt’s drug dealers and pot growers stand to lose everything they have and go to prison under the Department of Justice’s US Attorney Melinda Haag– while the big players like HSBC bank go free.

As bank slogans go, they don’t come worse than this: “HSBC: The preferred financial institution of drug cartels and money launderers.”

HSBC2That’s a quote in a U.S. Department of Justice report about HSBC Holdings, one of the largest banks in the world.  To avoid criminal prosecution, HSBC admitted in December that it laundered more than $800 million for Mexican drug cartels, and covered up much more in illegal transactions for Hamas, Al-Qaeda, Burma, Iran, Sudan, Cuba, and Libya over the course of 10 years.

The British bank will pay $1.9 billion to the US government.  While it’s the largest such fine in history, it’s about 4 weeks of the banking behemoth’s earnings.  It’s barely a slap on the wrist handed out by
the DOJ and Assistant Attorney General Lanny Breuer in a back room
deal.

It’s a case that has everything — everything except an arrest.  Nobody at HSBC will face criminal charges.

That struck some as odd, because in 80 pages of court documents, the bank admits to almost going out of its way to act as a financial clearing house for international pariahs and drug dealers.

hsbc4Notre Dame Professor Jimmy Gurgle, who investigated money-laundering cases for the Treasury Department, said: “We’re not talking about mere negligence. We’re talking about a criminal scheme that was adopted as a policy of HSBC that involved looking the other way in regard to suspicious transactions involving money laundering.”

Investigative journalist Matt Taibbi wrote “even people on Wall Street were blown away by the result,” the lack of prosecution and disposition being the equivalent of a parking ticket handed out
by the Department of Justice:

The decision to not prosecute in this instance belies everything that the government has ever done with regard to drug prosecutions everywhere.

I mean, when you think about the way they behave toward ordinary people who get caught up in drug cases, where they seize all your property and they use absolutely the maximum sentences they can possibly avail themselves of, and in this case they catch a bank that launders billions of dollars for Colombian and Mexican drug cartels for years on end, and they can’t find something to charge these people with?”

“If the law doesn’t apply equally to everybody, then you don’t really have a system of law.  And so you have a built-in defense for everybody in every drug case forever.  I mean, if you get caught with a stem of marijuana, how do you not stand up and say, ‘You’re going to send me to jail for this where a guy who laundered a billion dollars for a bunch of murderers gets nothing?’

hsbc3As far as the Department of Justice is concerned, the scales of justice aren’t a standard to be doled out equally. 

Too big to fail?  Some folks are above the law– and simply too big to jail.

 

4 Responses to “DOJ and HSBC Bank: Too Big to Jail”

  1. groovy says:

    Honestly tell me of one case in the last several years where the book has been thrown at anybody involved with marijuana. Every day in Humboldt it seems that some one is arrested with hundreds of pounds of the stuff yet I don’t know of anyone thats had their property siezed or been sentenced to a long prison term. Even the most sensational local arrests always end up with charges either dismissed or so watered down that the justice system is no longer an effective deterent.

  2. Forest Queen says:

    [Not about marijuana]

    FORECLOSURE FRAUD
    Take Your Home Back

    ROBO-SIGNING OVERVIEW

    Robo-Signing involves persons signing documents and swearing to their accuracy without verifying any of the information. Robo-Signers can be mortgage lending company employees who prepared and signed off on foreclosures without reviewing them, as the law requires. Any apparent sale based on Robo-Signed documents is void. A notary who helps commit real estate fraud is liable. “Robo” actions are just the tip of the iceberg to be seen.
    http://www.google.com/url?sa=D&q=http://www.hofj.org/virtualoffice_files/Robo-Signing-Overview.pdf&usg=AFQjCNE7s2TCM8iOI0f2ft_GqGuYm48Cgg

Trackbacks/Pingbacks

  1. [...] The financial regulators can blame those very same angry Wall Street lobbyists, along with outgoing Treasury Secretary Tim Geithner and Senate Republicans for their embarrassing turn at the hearing– with the event going viral for all to see. [...]

  2. [...] You can read the Sentinel’s previous coverage on HSBC and Senator Elizabeth Warren here and here. [...]


Leave a Reply

HumSentinel on Twitter

RSS Progressive Review

  • Graduation speech
    From 50 years of our overstocked archives[From a graduation speech delivered at Washington's John Eaton public elementary school in 1977. At the time, the school went through the 8th grade.] Sam Smith, 1977 – The title of my speech is “The Future Lies Ahead.” This pretty much sums up what people are meant to say at graduations, so I thought I would take […]
  • Giuliani's misleading black crime statistic
    Washington Post:Rudolph Giuliani [recently cited]a statistic from a 2010 Bureau of Justice Statistics report which did, indeed, conclude that 93 percent of black homicide victims from 1980 through 2008 were killed by black offenders.As our colleague Philip Bump at The Fix noted, Giuliani omitted the comparable statistic in the report for white homicide victi […]
  • World Bank Warns on climate change
    Environmental News Network - As the planet continues to warm, heat-waves and other extreme weather events that today occur once in hundreds of years, if ever, will become the “new climate normal,” creating a world of increased risks and instability, a new World Bank study warns. The consequences for development would be severe as crop yields decline, water r […]
  • Chuck Schumer says something right for a change
    National Journal - Sen. Chuck Schumer upbraided his own party Tuesday for pushing the Affordable Care Act through Congress in 2010.While Schumer emphasized during a speech at the National Press Club that he supports the law and that its policies "are and will continue to be positive changes," he argued that the Democrats acted wrongly in using thei […]
  • What it takes to get Hillary Clinton to speak
     Rosalind S. Helderman and Philip Rucker, Washington Post -   When officials at the University of California at Los Angeles began negotiating a $300,000 speech appearance by Hillary Rodham Clinton, the school had one request: Could we get a reduced rate for public universities?The answer from Clinton’s representatives: $300,000 is the “special university rat […]
  • Obama's "targeted killings" killed 28 people for each target attempt
    Guardian  A new analysis of the data available to the public about drone strikes, conducted by the human-rights group Reprieve, indicates that even when operators target specific individuals – the most focused effort of what Barack Obama calls “targeted killing” – they kill vastly more people than their targets, often needing to strike multiple times. Attemp […]
  • Enquirer says HRC has booze problem
    Those sceptical of the Enquirer should bear in mind that it was the pub that broke the John Edwards sex story. National Enquirer - A  “boozed-up” Hillary Clinton suffered a secret collapse during a recent vacation – and now worried advisers want her to do a secret stint in rehab before her White House run!Sources close to the former First Lady and ex-Secreta […]
  • Coffee & Copious Co-authorship & Causation & Correlation
    Improbable Research - this new study has plenty of something for lots of everyones:“Genome-wide meta-analysis identifies six novel loci associated with habitual coffee consumption,” The Coffee and Caffeine Genetics Consortium, M C Cornelis, E M Byrne, T Esko, M A Nalls, A Ganna, N Paynter, K L Monda, N Amin, K Fischer, F Renstrom, J S Ngwa, V Huikari, A Cava […]
  • How police body cameras work
    HuffingtonPost:[Police body] cameras, which can be worn on sunglasses or clipped to a shirt, have won the backing of both civil libertarians and police groups. Civil liberties advocates argue that video records prevent cops from abusing their authority, while law enforcement groups note that a person cannot falsely accuse an officer if their encounter is rec […]
  • Wilileaks releases more anti-constitutional trade deal info
    Common Dreams - WikiLeaks has released a second updated version of the Trans-Pacific Partnership Intellectual Property Rights chapter, charging that it will hinder affordable access to medicines globally, increase online surveillance, and impinge on civil liberties while benefiting Big Pharma and other corporate interests."Our first impression in readin […]
  • Great moments in research
     Improbable Research “Forming Impressions: Effects of Facial Expression and Gender Stereotypes,” Tay Hack, Psychological Reports, vol. 114, no. 2, 2014, pp. 1-15. The author, at Angelo State University, writes:“In conclusion, the present research adds to existing knowledge of how people form impressions of men and women…. The findings suggest that women may […]
  • Apology to young Americans
    From 50 years of our overstocked archivesSam Smith, 2003 - In observance of the approaching 66th anniversary of my arrival on this planet I would like to apologize to you on behalf of my generation. Even members of Confederacy had the grace to secede from the union; my generation has remained within like a deadly virus, subverting it, shaming it, screwing it […]
  • Want a four day week? Run for Congress
    Washington PostHouse Majority Leader Kevin McCarthy on Wednesday released the 2015 congressional calendar, which sets up the weekly voting agenda for the 114th Congress.The new session of Congress will convene Jan. 6. And that four-day week sets the pace for the rest of the year: By my count, the calendar has no five-day voting weeks and 18 weeks in which ze […]
  • Police 'justifiable homocides' reach record high
    Global Research:FBI data released over the past month reveals that so-called “justifiable homicides” reached a record high last year, while the number of officers killed in the line of duty fell to its lowest level in decades.According to the data, which appeared in a Monday article on the Washington Post web site, 461 American civilians were killed by on-th […]
  • Russia has ban on imports of GMOs
    Global Research - There have been marches, vocal demonstrations, petitions, and laws banning GMOs, but the US is still lagging in the ‘democratic’ freedoms it has promised its people. Russia, on the other hand, has completely banned GMOs, placing a moratorium on their imports for 10 years. The nation rejects GMOs due to numerous dangers, while the US continu […]