HSBC Money Laundering Case ( Monkeys & Cocaine )

HSBC to Pay $1.92 Billion to Settle Charges of Money Laundering
HSBC to Pay $1.92 Billion to Settle Charges of Money Laundering
HSBC to Pay $1.92 Billion to Settle Charges of Money Laundering
HSBC to Pay $1.92 Billion to Settle Charges of Money Laundering
HSBC Money Laundering Case ( Monkeys & Cocaine )
In this episode, Max Keiser and Stacy Herbert look at HSBC being fined rather than criminally charged in order to avoid destabilizing the system, while JP Morgan and others are being sued for about a trillion in bad mortgages investors were duped into buying. They also look at “1001” under which bankers who lied to the federal housing authorities could be criminally tried for lying to a federal official. In the second half, Max Keiser talks to Kyra Maya Phillips of MisfitEconomy.com about democracy aboard pirate ships of the 18th century on which No Plunder, No Pay was the name of the game and innovation happened on the fringe. Max proposes banksters walk the plank in a specially built platform in Trafalgar Square.
Watch the full Keiser Report E379 here: http://youtu.be/o1jUFNyZvHQ

The banking giant HSBC has escaped indictment for laundering billions of dollars for Mexican drug cartels and groups linked to al-Qaeda. Despite evidence of wrongdoing, the U.S. Department of Justice has allowed the bank to avoid prosecution and pay a $1.9 billion fine. No top HSBC officials will face charges, either. We’re joined by Rolling Stone Contributing Editor Matt Taibbi, author of “Griftopia: A Story of Bankers, Politicians, and the Most Audacious Power Grab in American History.” “You can do real time in jail in America for all kinds of ridiculous offenses,” Taibbi says. “Here we have a bank that laundered $800 million dollars of drug money and they can’t find a way to put anybody in jail for that? That sends an incredible message, not just to the financial sector, but to everybody. It’s an obvious, clear double standard where one set of people gets to break the rules as much as they want and another set of people can’t break any rules at all without going to jail.”

HSBC intentionally allowed money laundering transactions with Iran, Libya, Sudan and Burma, U.S. alleges
http://business.financialpost.com/2012/12/11/hsbc-to-pay-record-us1-9-billion-fine-to-settle-money-laundering-case/

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