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

  • Feds to make $12 billion a year off of student loans
    Popular Resistance - The U.S. Department of Education is forecast to generate $127 billion in profit over the next decade from lending to college students and their families, according to the Congressional Budget Office.Beginning in the 2015-16 academic year, students and their families are forecast to pay more to borrow from the department than they did pri […]
  • Young in rich, western world more pessimistic than those in developing countries
    Guardian - An Ipsos Mori survey released  has found that young adults in rich, western countries are less optimistic about the future than their counterparts in developing countries. While people in Europe, Australia, North America and Japan largely felt that the younger generation were unlikely to be better off than their baby boomer predecessors, those pol […]
  • Terror Alert
    Onion - Putting the nation on alert against what it has described as a “highly credible terrorist threat,” the FBI announced today that it has uncovered a plot by members of al-Qaeda to sit back and enjoy themselves while the United States collapses of its own accord.Multiple intelligence agencies confirmed that the militant Islamist organization and its num […]
  • Census revisions will make Obamacare stats more muddy
    The New York Times: Census Survey Revisions Mask Health Law EffectsThe Census Bureau, the authoritative source of health insurance data for more than three decades, is changing its annual survey so thoroughly that it will be difficult to measure the effects of President Obama’s health care law in the next report, due this fall, census officials said. The cha […]
  • Federal judge strikes down most restrictive abortion law
    Common DreamsA federal judge struck down North Dakota's "fetal heartbeat" law, seen as the most restrictive abortion ban in the country.The law, House Bill 1456, essentially banned abortions at six weeks. Barring a medical emergency, the law said that an abortion could not be performed if a fetal heartbeat can be detected, which can happen as […]
  • How Canada controls election rigging
    Vox - "Canadian reapportionment was highly partisan from the beginning until the 1960s," writes Charles Paul Hoffman in the Manitoba Law Journal. This "led to frequent denunciations by the media and opposition parties. Every ten years, editorial writers would condemn the crass gerrymanders that had resulted." "Independent commissions […]
  • Another Clinton crook pal pleads guilty
    PoliticoA prominent New York hotel magnate who was a top bundler for then-Sen. Hillary Clinton's 2008 presidential campaign pled guilty in federal court Thursday to making more than $180,000 in illegal campaign contributions and to witness tampering.Sant Chatwal, 70, admitted using employees and vendors for his hotels as straw donors to avoid limits dic […]
  • Trouble in the Commons
    Daily MailCommons Speaker John Bercow has claimed that women MPs have stopped attending Prime Minister’s Questions because of the rowdy atmosphere.He said that several female politicians have been put off by the ‘histrionics and cacophony of noise’ when David Cameron is quizzed every Wednesday.Mr Bercow suggested that ‘seasoned parliamentarians’ boycotted th […]
  • Word: A worried teacher
    Alan Jones, Progressive - Worrying is not my thing.  That’s my wife’s department.  And she’s really good at it.  She tells me I am a Pollyanna, an unrealistically optimistic person, and for the most part, she’s right.  But, I’m worried.I’m worried about our country.  I don’t like to believe that people deliberately do things that will cause other people harm […]
  • When trickle down stopped
    From 50 years of the Review's overstocked archives, in this case back when the journal was known as the DC GazetteCarl Bergman, 1974 - The [DC] city government has the strangest  attitude about housing. It seems to think that  it’s not the housing that's the problem but  rather the people. They are never the ones that city planners and administrato […]
  • Romney's old firm has gotten into drugs
    Boston Globe - Clinics like one on Topeka Street in Boston can be lifesavers for addicts trying to kick heroin or other opiates. Reports of heroin overdoses and deaths are on the rise as cheap and potent versions of the drug — sometimes laced with the pain medication fentanyl — flood the market. Governor Deval Patrick has declared it a public health emergenc […]
  • UN scientists want far more use of renewable power plants
    Guardian - Mitigation of Climate Change, by the UN's Intergovernmental Panel on Climate Change, a panel of 200 scientists, will make it clear that by far the most realistic option for the future is to triple or even quadruple the use of renewable power plants. Only through such decisive action will carbon dioxide levels in the atmosphere be kept below t […]
  • Professional statisticians come out against public school wreckers
    Valerie Strauss, Washington Post - You can be certain that members of the American Statistical Association, the largest organization in the United States representing statisticians and related professionals, know a thing or two about data and measurement. That makes the statement that the association just issued very important for school reform.The ASA just […]
  • Tennessee legislature votes against any rapid bus system
    Wired - Tennessee lawmakers overwhelmingly voted in favor a bill that bans the construction of bus rapid transit anywhere in the state.The impetus for the vote was a proposal to build a $174 million BRT system in Nashville called The Amp, which would’ve ran on a 7.1 mile route and served rapidly growing neighborhoods across the city. There’s a more detailed […]
  • Jimmy Carter comes out against pipeline
    Washington Post - Former president Jimmy Carter has joined a group of Nobel laureates who oppose construction of the Keystone XL pipeline, warning President Obama and Secretary of State John F. Kerry, “You stand on the brink of making a choice that will define your legacy on one of the greatest challenges humanity has ever faced – climate change."By ann […]