Videos - Matt Taibbi: After Laundering $800 Million in Drug Money, How Did HSBC Execs Avoid Jail?
NO ADVERTISING, GOVERNMENT OR CORPORATE FUNDING
DONATE TODAY

KMC » 11am - Dec 13, 2012
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." Published on Dec 13, 2012
Rating: 5.0 (2 Votes)
RealNewsNetwork.com, Real News Network, Real News, Real News For Real People, IWT are trademarks and service marks of IWT.TV inc. "The Real News" is the flagship show of IWT and Real News Network.

All original content on this site is copyright of The Real News Network. Click here for more

Problems with this site? Please let us know

Linux VPS Hosting by Star Dot Hosting