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No one goes to jail, no one specifically gets blamed. What a great deal for establishment sell-your-soul politics!
yet, HSBC doesn't lose its banking license, but non-violent state felons lose life-long right to vote, lose rights to all kinds of public assistance.
and how much of HSBC's, and other BigFinance criminals, BP's, fines are actually deducted as business expenses, meaning taxpayers subsidize their crimes.
No one goes to jail, no one specifically gets blamed. What a great deal for establishment sell-your-soul politics!
government has combined with financial predators to turn us into serfs. we're just a revenue stream. money for political access more or less insures it.
maybe, just maybe, you're beginning to understand ed and un able America is.
don't give up hope -- political power occasionally trumps the influence of money.
Not with the $100Bs the money people have now, not with the right-wing hate media and Bible humpers making up , lying about non-right-wingers, not with gerrymandering, voter suppression, Repug counting fraud, a packed right-wing judiciary, with DC and other political levels being totally corrupted by Big$$$, pay to play (both parites).
I support Bernie, but I know his progressive/Dem policies and any that might just come from Hillary would have no chance against the Congressional Repugs from the slave, red, Bible-humping states.
The excessive, disproportionate Senatorial power of underpopulated, red/rural states must be changed, but the Cons ution won't be amended to make the Senate proportional.
http://www.thegreenpapers.com/Census10/FedRep.phtml
Last edited by boutons_deux; 02-12-2016 at 03:25 AM.
these things swing back and forth. the disestablishmentarian turn on both sides of the spectrum could have some interesting byways.
I cannot imagine how "things" will "swing". Historically, extremely wealthy and powerful MEN ruling over emasculated, impoverished peoples has been the norm. America is now at that point. Democracy is a fraud. The politicians are totally corrupted by money from the wealthy and BigCorp.
Righwingnut politicians are hired by the 1%/BigCorp to go -bent on disempowering govt by severe, relentless budget cutting and privatizing the state to BigCorp that will deliver, as always, the tiest possible "nominal" product, eg "education". for the highest possible price.
The 1%/BigCorp will not give away their incredible powers.
Any talk of taking away those powers will get the police/surveillance state, that knows more about you than you will ever know about it, crushing you.
Congress finally mounts the soapbox:
http://financialservices.house.gov/u...oi_tbtj_sr.pdfSenior DOJ leadership, including then-Attorney General Eric Holder, overruled an internal recommendation by DOJ’s Asset Forfeiture and Money Laundering Section to prosecute HSBC because of DOJ leadership’s concern that prosecuting the bank would have serious adverse consequences on the financial system.
Notwithstanding Attorney General Holder’s personal demand that HSBC agree to DOJ’s “take-it-or-leave-it” deferred prosecution agreement deal by November 14, 2012, HSBC appears to have successfully negotiated with DOJ for significant alterations to the deferred prosecution agreement’s terms in the weeks following the Attorney General’s deadline.
DOJ and federal financial regulators were rushing at what one Treasury official described as “alarming speed” to complete their investigations and enforcement actions involving HSBC in order to beat the New York Department of Financial Services.
In its haste to complete its enforcement action against HSBC, DOJ transmitted settlement numbers to HSBC before consulting with Treasury’s Office of Foreign Asset Control to ensure that the settlement amount accurately reflected the full degree of HSBC’s sanctions violations.
The involvement of the United Kingdom’s Financial Services Authority in the U.S. government’s investigations and enforcement actions relating to HSBC, a British-domiciled ins ution, appears to have hampered the U.S. government’s investigations and influenced DOJ’s decision not to prosecute HSBC.
Attorney General Holder misled Congress concerning DOJ’s reasons for not bringing a criminal prosecution against HSBC.
https://theintercept.com/2016/07/12/...ed-and-burned/
The Intercept weighs in on the report.
A white Repug DoJ would have cancelled HSBC's US banking license, right?
Last edited by boutons_deux; 07-17-2016 at 12:00 PM.
wouldn't that have been appropriate?
The history: From 2006 to 2010, HSBC failed to monitor billions of dollars of U.S. dollar purchases with drug trafficking proceeds in Mexico. It also conducted business going back to the mid-1990s on behalf of customers in Cuba, Iran, Libya, Sudan, and Burma, while they were under sanctions. Such transactions were banned by U.S. law.
of course, but Holder was so worried about hurting BigFinance (offending his past and future client banbks) .
"Return to private practice
In July 2015, Holder rejoined Covington & Burling, the law firm at which he worked before becoming Attorney General.
The law firm's clients have included many of the large banks Holder declined to prosecute for their alleged role in the financial crisis.
Matt Taibbi of Rolling Stone opined about the move, "I think this is probably the single biggest example of the revolving door that we've ever had."
https://en.wikipedia.org/wiki/Eric_Holder
short version: govt is totally corrupted. Exec, SCOTUS, Congress, and "captured" and/or intimidated regulatory agencies.
Anybody got any practical (doable) path to undo the corruption?
of course, but Holder was so worried about hurting BigFinance (offending his past and future client banbks) .
"Return to private practice
In July 2015, Holder rejoined Covington & Burling, the law firm at which he worked before becoming Attorney General.
The law firm's clients have included many of the large banks Holder declined to prosecute for their alleged role in the financial crisis.
Matt Taibbi of Rolling Stone opined about the move, "I think this is probably the single biggest example of the revolving door that we've ever had."
https://en.wikipedia.org/wiki/Eric_Holder
short version: govt is totally corrupted. Exec, SCOTUS, Congress, and "captured" and/or intimidated regulatory agencies.
Anybody got any practical (doable) path to undo the corruption?
Thanks Obama!!!
LIBOR, foreclosure mills, money laundering for drug cartels, money laundering by HSBC execs, it's normal at this point that business models based on crime, fraud and rapine of the earth proceed without any meaningful consequences if the firm is large enough.
"Who cares if Miami is under water?" is a tidy illustration of how quarterly profits trump everything.
There haven't been any Enrons since Enron.
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