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General Category >> Politics, Religion (Tall Table) >> Look what gubbamint employees did.
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Message started by srinath on 12/11/12 at 05:58:22

Title: Look what gubbamint employees did.
Post by srinath on 12/11/12 at 05:58:22

http://www.reuters.com/article/2012/12/11/us-hsbc-probe-idUSBRE8BA05M20121211

Yes, money laundering ... oh yea, needs to be done, and we need to "unchain" them ?

Here is a little tidbit.

HSBC has agreed to pay a record $1.92 billion fine to settle a multi-year probe by U.S. prosecutors, who accused Europe's biggest bank of failing to enforce rules designed to prevent the laundering of criminal cash.

HSBC Holdings Plc admitted to a breakdown of controls and apologized in a statement on Tuesday announcing it had reached a deferred-prosecution agreement with the U.S. Department of Justice, as first reported by Reuters last week.

Cool.
Srinath.

Title: Re: Look what gubbamint employees did.
Post by Pine on 12/11/12 at 15:01:29

So leets see if I get this right...

Bank basically has been thumbing its nose at money-laundering laws.. and getting super rich doing so... something its been caught doing twice before. So as "punishment" they get a fine that is sooooo small that their stock GOES UP. The banksters are given the deal that no criminal charges will be pursued.

So the fines are just the cost of doing business.

Makes me wonder though....so if money laundering were thrown in with "the war on drugs"; would they place a mandatory sentence on there? And if they did, one would wonder what the race make-up might be. Could this be THE way to balance out the racial make-up in the US prisions?

Yup thats how i would do it.

Title: Re: Look what gubbamint employees did.
Post by 360k+ on 12/11/12 at 19:25:35

Yep, the problem is, when the power pyramid is built on mutual collusion, you can slap a hand, but only using one finger.

Title: Re: Look what gubbamint employees did.
Post by srinath on 12/11/12 at 19:32:21

We should have put the consumer protection agency in place and given it the power we would give the local cops when they see someone selling drugs on the street. It is no different IMHO.

Well, we wanted to, but the repugs did not.

Every day that Angelo Mozilo walks free is a day that law abiding, tax paying citizens are in jail.

Cool.
Srinath.

Title: Re: Look what gubbamint employees did.
Post by justin_o_guy2 on 12/12/12 at 07:12:35

Considering the violent nature of the drug cartels I would be tempted to call helping them "Providing material support to a terrorist organization".

Title: Re: Look what gubbamint employees did.
Post by Paraquat on 12/12/12 at 09:09:45

If you could link the money laundering to drug cartels (I'm sure there's a degree of connection there somewhere) why couldn't you use Rico laws to seize assets? That would probably tip the scales a little.

--Steve

Title: Re: Look what gubbamint employees did.
Post by srinath on 12/13/12 at 07:27:29

You need to enforce and then prove both of these ... tha ttakes an agency with some balls and funding. Are the repugs prepared to grant both of those to someone who also has the brains to lead such an outfit ? Well they weren't, and ergo, the Brown has been flushed out of office in just 2 years.

Cool.
Srinath.

Title: Re: Look what gubbamint employees did.
Post by srinath on 12/14/12 at 06:19:54

And they are squeezing another billion out of UBS, whoo hoo ... and before anyone jumps on their side as to how they are "Job creators" and they shouldn't be taxed, let me remind you, they have helped several million americans, including RMoney dodge taxes for years and years on american generated income.

Love it when a 100K employee finds a billion in a tax filing hidden in plain sight @ a big corporation.

Cool.
Srinath.