Page 1 of 2 12 LastLast
Results 1 to 10 of 11

Thread: Outrageous HSBC Settlement Proves The Drug War Is A Joke

  1. #1
    Sage
    poweRob's Avatar
    Join Date
    Sep 2011
    Last Seen
    Yesterday @ 06:01 PM
    Gender
    Lean
    Progressive
    Posts
    35,099

    Outrageous HSBC Settlement Proves The Drug War Is A Joke

    Ain't being a corporate person great? There is simply no jail time for those kinds of people for almost anything they do...

    Matt Taibbi: 'Outrageous HSBC Settlement Proves The Drug War Is A Joke'

    If you've ever been arrested on a drug charge, if you've ever spent even a day in jail for having a stem of marijuana in your pocket or "drug paraphernalia" in your gym bag, Assistant Attorney General and longtime Bill Clinton pal Lanny Breuer has a message for you: Bite me.

    Breuer this week signed off on a settlement deal with the British banking giant HSBC that is the ultimate insult to every ordinary person who's ever had his life altered by a narcotics charge. Despite the fact that HSBC admitted to laundering billions of dollars for Colombian and Mexican drug cartels (among others) and violating a host of important banking laws (from the Bank Secrecy Act to the Trading With the Enemy Act), Breuer and his Justice Department elected not to pursue criminal prosecutions of the bank, opting instead for a "record" financial settlement of $1.9 billion, which as one analyst noted is about five weeks of income for the bank.

    The banks' laundering transactions were so brazen that the NSA probably could have spotted them from space. Breuer admitted that drug dealers would sometimes come to HSBC's Mexican branches and "deposit hundreds of thousands of dollars in cash, in a single day, into a single account, using boxes designed to fit the precise dimensions of the teller windows."

    This bears repeating: in order to more efficiently move as much illegal money as possible into the "legitimate" banking institution HSBC, drug dealers specifically designed boxes to fit through the bank's teller windows. Tony Montana's henchmen marching dufflebags of cash into the fictional "American City Bank" in Miami was actually more subtle than what the cartels were doing when they washed their cash through one of Britain's most storied financial institutions.

    It doesn't take a genius to see that the reasoning here is beyond flawed. When you decide not to prosecute bankers for billion-dollar crimes connected to drug-dealing and terrorism (some of HSBC's Saudi and Bangladeshi clients had terrorist ties, according to a Senate investigation), it doesn't protect the banking system, it does exactly the opposite. It terrifies investors and depositors everywhere, leaving them with the clear impression that even the most "reputable" banks may in fact be captured institutions whose senior executives are in the employ of (this can't be repeated often enough) murderers and terrorists. Even more shocking, the Justice Department's response to learning about all of this was to do exactly the same thing that the HSBC executives did in the first place to get themselves in trouble – they took money to look the other way.
    Quote Originally Posted by Moderate Right View Post
    The sad fact is that having a pedophile win is better than having a Democrat in office. I'm all for a solution where a Republican gets in that isn't Moore.

  2. #2
    Banned
    Join Date
    Nov 2012
    Location
    Denio Junction
    Last Seen
    11-13-14 @ 12:09 AM
    Lean
    Other
    Posts
    7,039
    Blog Entries
    4

    Re: Outrageous HSBC Settlement Proves The Drug War Is A Joke

    Until Barney Frank does time for telling everyone freddie and fannie were just fine I really no
    longer care about these criminals. C. Dodd, Graham and Frank deserve as much prison time
    as any of these guys.

  3. #3
    Discount Philosopher
    specklebang's Avatar
    Join Date
    Jan 2012
    Location
    Las Vegas
    Last Seen
    06-05-14 @ 08:26 PM
    Lean
    Other
    Posts
    11,524

    Re: Outrageous HSBC Settlement Proves The Drug War Is A Joke

    Politicians and the Banksters do not operate under the same fear of retribution that you and I do.

    Once one of us saves up a few billion$, we'll also be safe from "justice". In the meantime, lie and hide to the best of your ability.

  4. #4
    Jedi Master
    Captain America's Avatar
    Join Date
    Feb 2006
    Location
    Wisconsin
    Last Seen
    Yesterday @ 05:06 PM
    Gender
    Lean
    Centrist
    Posts
    18,673

    Re: Outrageous HSBC Settlement Proves The Drug War Is A Joke

    1. The bankers were most likely rich white guys.

    2. The bankers wear suits and ties and their pant's aren't down to their knees.

    I suppose they should get a pass. LOL!

    It's GREAT to be me. --- "45% liberal/55% conservative"
    Diplomacy is the art of saying 'nice doggy" until you can find a gun.

  5. #5
    Outer space potato man

    Join Date
    Feb 2010
    Last Seen
    12-16-17 @ 11:29 PM
    Gender
    Lean
    Undisclosed
    Posts
    51,849

    Re: Outrageous HSBC Settlement Proves The Drug War Is A Joke

    Quote Originally Posted by CalGun View Post
    Until Barney Frank does time for telling everyone freddie and fannie were just fine I really no
    longer care about these criminals. C. Dodd, Graham and Frank deserve as much prison time
    as any of these guys.
    Really. Helping murderers, drug cartels, and terrorists move their money around doesn't bother you.
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

  6. #6
    Banned
    Join Date
    Nov 2012
    Location
    Denio Junction
    Last Seen
    11-13-14 @ 12:09 AM
    Lean
    Other
    Posts
    7,039
    Blog Entries
    4

    Re: Outrageous HSBC Settlement Proves The Drug War Is A Joke

    Sure it does; but so does telling us everything is fine 6 months before everything collapses and needs a 700 billion
    bail out to keep from turning into a super crisis; and creating the rules that generated that very crisis. I think as
    many people were impacted in 2008/9 by the housing bubble burst as by drug cartels, murderers and terrorists.
    Including a lot of people dead because of it. I would like those people in prison for what they did.


    Quote Originally Posted by Deuce View Post
    Really. Helping murderers, drug cartels, and terrorists move their money around doesn't bother you.

  7. #7
    Sage
    Born Free's Avatar
    Join Date
    Sep 2011
    Location
    Sonny and Nice
    Last Seen
    Yesterday @ 12:49 PM
    Lean
    Conservative
    Posts
    6,396

    Re: Outrageous HSBC Settlement Proves The Drug War Is A Joke

    Quote Originally Posted by Captain America View Post
    1. The bankers were most likely rich white guys.

    2. The bankers wear suits and ties and their pant's aren't down to their knees.

    I suppose they should get a pass. LOL!
    And who do you suppose gave them that pass? Let me tell you.

    "On January 22, 2009, President Obama selected Breuer to head the Criminal Division of the Department of Justice"

    Lanny A. Breuer - Wikipedia, the free encyclopedia
    Liberals - Punish the Successful, Reward the Unsuccessful
    Liberals - Tax, Borrow, Spend, and Give Free Stuff
    Obama's legacy - President Donald Trump

  8. #8
    Banned
    Join Date
    Apr 2012
    Location
    SE Asia
    Last Seen
    07-12-14 @ 10:52 AM
    Gender
    Lean
    Libertarian - Left
    Posts
    2,333

    Re: Outrageous HSBC Settlement Proves The Drug War Is A Joke

    Too big to fail.

    Too big to jail.

    The US is a plutocracy.

  9. #9
    Guru
    Muddy Creek's Avatar
    Join Date
    Jul 2006
    Last Seen
    04-05-13 @ 09:02 PM
    Lean
    Undisclosed
    Posts
    3,103

    Re: Outrageous HSBC Settlement Proves The Drug War Is A Joke

    Quote Originally Posted by poweRob View Post
    Ain't being a corporate person great? There is simply no jail time for those kinds of people for almost anything they do...

    Matt Taibbi: 'Outrageous HSBC Settlement Proves The Drug War Is A Joke'

    If you've ever been arrested on a drug charge, if you've ever spent even a day in jail for having a stem of marijuana in your pocket or "drug paraphernalia" in your gym bag, Assistant Attorney General and longtime Bill Clinton pal Lanny Breuer has a message for you: Bite me.

    Breuer this week signed off on a settlement deal with the British banking giant HSBC that is the ultimate insult to every ordinary person who's ever had his life altered by a narcotics charge. Despite the fact that HSBC admitted to laundering billions of dollars for Colombian and Mexican drug cartels (among others) and violating a host of important banking laws (from the Bank Secrecy Act to the Trading With the Enemy Act), Breuer and his Justice Department elected not to pursue criminal prosecutions of the bank, opting instead for a "record" financial settlement of $1.9 billion, which as one analyst noted is about five weeks of income for the bank.

    The banks' laundering transactions were so brazen that the NSA probably could have spotted them from space. Breuer admitted that drug dealers would sometimes come to HSBC's Mexican branches and "deposit hundreds of thousands of dollars in cash, in a single day, into a single account, using boxes designed to fit the precise dimensions of the teller windows."

    This bears repeating: in order to more efficiently move as much illegal money as possible into the "legitimate" banking institution HSBC, drug dealers specifically designed boxes to fit through the bank's teller windows. Tony Montana's henchmen marching dufflebags of cash into the fictional "American City Bank" in Miami was actually more subtle than what the cartels were doing when they washed their cash through one of Britain's most storied financial institutions.

    It doesn't take a genius to see that the reasoning here is beyond flawed. When you decide not to prosecute bankers for billion-dollar crimes connected to drug-dealing and terrorism (some of HSBC's Saudi and Bangladeshi clients had terrorist ties, according to a Senate investigation), it doesn't protect the banking system, it does exactly the opposite. It terrifies investors and depositors everywhere, leaving them with the clear impression that even the most "reputable" banks may in fact be captured institutions whose senior executives are in the employ of (this can't be repeated often enough) murderers and terrorists. Even more shocking, the Justice Department's response to learning about all of this was to do exactly the same thing that the HSBC executives did in the first place to get themselves in trouble – they took money to look the other way.

    Yup...the rich get richer even more..they run the corporations that hire the slave prisoners and pay them pennies of the hour so they make HUGE profits from this.
    Alex Carey:

    ... the 20th century has been characterized by three developments of great political importance: The growth of democracy, the growth of corporate power, and the growth of corporate propaganda as a means of protecting corporate power against democracy.

    Australian social scientist, quoted by Noam Chomsky in World Orders Old and New

  10. #10
    Guru
    Muddy Creek's Avatar
    Join Date
    Jul 2006
    Last Seen
    04-05-13 @ 09:02 PM
    Lean
    Undisclosed
    Posts
    3,103

    Re: Outrageous HSBC Settlement Proves The Drug War Is A Joke

    Quote Originally Posted by CalGun View Post
    Until Barney Frank does time for telling everyone freddie and fannie were just fine I really no
    longer care about these criminals. C. Dodd, Graham and Frank deserve as much prison time
    as any of these guys.
    You really might want to read a CREDIBLE news source to find out the truth on this. Supporting banksters is really anti-American families.
    Alex Carey:

    ... the 20th century has been characterized by three developments of great political importance: The growth of democracy, the growth of corporate power, and the growth of corporate propaganda as a means of protecting corporate power against democracy.

    Australian social scientist, quoted by Noam Chomsky in World Orders Old and New

Page 1 of 2 12 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •