a reply to: CB328
Now, I am not sure that HSBC is the same kind of organisation, in terms of its technical classification, and I have no intention of looking it up just
at the moment, because I am kind of in the middle of something just now.
But I do know that despite its being used by drug and gun runners, terrorists, cartels, and other forms of organised criminal enterprise, to launder
the profits of illegal activities (which should have been impossible, if regulations were being followed to the letter, in terms of how to structure a
banking institution and its operations in such a fashion as to prevent it), no one at the company went to jail, and the fine which was applied to HSBC
(which was admittedly the largest such fine of its kind, ever applied to a banking institution), basically had a net zero effect on its operations
going forward from that point, because its a bank, they are made of money, so they always have some in reserve somewhere.
It was considered the right thing to do at the time, because applying the more ethically and morally correct penalty of shutting the thing down
entirely and arresting its entire board, would have been too costly to the wider economy of not just the US, but the entire planet.
This is not rare, strange, odd, or unusual. Systemic, infrastructural failings at financial institutions are common, its finding out about them at
all that is strange. That is why it is even rarer still for someone involved in those industries to ACTUALLY pay for a crime they commit using the
loopholes they have engineered into those institutions.
Where HSBC is concerned, it should not be a shocker that they were involved in laundering and offering banking services to drug smugglers and gun
runners in the modern era, since the company itself was started by opium traders after the Second Opium War, precisely to present a respectable face
to the rest of the worlds business community, as well as providing a place to put the proceeds of opium trading, where the Chinese authorities could
not even look at the books, leave alone control or prevent the business from occurring in the first place.