Monday, July 16, 2012

Criminal Banksters

"HSBC Nears Pact in Launder Inquiry" The Wall Street Journal July 16, 2012, C1 by E. Perez

"The Justice Department and HSBC Holdings PLC are accelerating settlement talks to resolve a criminal probe into laundering of drug-cartel and other money. . .

...Among the allegations Justice Dept. prosecutors have focused on. . . is whether bank officials were complicit in laundering by drug cartels by allowing suspicious money to be hidden in flows of bulk cash between the US and Mexico..."

Majia Here: I consider it highly unlikely that bank officials were not aware of the suspicious nature of the funds.

The banking industry acts with near complete disregard for the law because the law disregards the criminality of their acts.

See my post here on the lack of criminal prosecutions from the financial crisis.

William Black, who was involved in prosecuting the criminal banksters in the Savings and Loan crisis back in the 1980s, has been very vocal about the lack of criminal prosecutions.

A good interview can be found here:

William Black: Why Nobody Went to Jail During the Credit Crisis: The FBI is no longer chasing white collar criminals 

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