Posts Tagged ‘Michoacán’
Thursday, January 10th, 2013
From El Enemigo Comun – by Simòn Sedillo / via anarchistnews
On December 11, 2012, the US Justice Department announced that banking giant HSBC was immune from prosecution despite overwhelming evidence that they consistently failed to implement controls against money-laundering. Assistant attorney general Lanny Breuer said: “Had the US authorities decided to press criminal charges, HSBC would almost certainly have lost its banking license in the US, the future of the institution would have been under threat and the entire banking system would have been destabilized.”
The entire banking system would have been destabilized?
The Department of Justice opted rather to charge HSBC a record-breaking 1.9 billion dollar fine, and ordered the bank’s activities monitored for five years. The 1.9 billion is equivalent to five weeks’ worth of HSBC earnings, in other words, a drop in the bucket. The saddest part of the story in the mainstream media, is the focus on money laundered and money fined, as opposed to lives lost and crime legitimized in one of the most grotesque admissions of complicity with organized crime in the so-called war on drugs. Basically what was announced to the world by the US Justice Department was that the money ran too thick, and the criminals were too powerful. The global economic impact of prosecuting a bank where the dirty money has been going, was too dangerous to risk. “Sorry kids, but we guess the bad guys win.” (more…)