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HSBC bank 'sorry' for aiding organised crime, drug cartels, rogue states, terrorists and money lau

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posted on Jul, 17 2012 @ 04:01 PM
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www.guardian.co.uk...


Executive quits in front of US Senate as bank faces massive fines for 'horrific' lapses that resulted in laundering money for drugs cartels and pariah states


This is a big one. Europe's biggest bank are grilled by US senators on a scandal with revelations of money laundering and money being given to cartels and terrorists.

Another guardian link links the report:

www.guardian.co.uk...


According to the report it continued to do business with "casas de cambio" – money-changing businesses – years after its rivals had stopped on fears that they were fronts for drug-cartel money laundering.

The report says that the Mexico business had a branch in the Cayman Islands that in 2008 handled 50,000 client accounts and $2.1bn in holdings – but had no staff or offices. It also shipped bank notes by car or aircraft to the HSBC in the US. The bank shipped $7bn to the US from Mexico in 2007 and 2008, according to the report.


If any other entity did this, they'd be jailed. In this case they're suffering heavy fines.




posted on Jul, 17 2012 @ 04:05 PM
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Bankers . . . the true whores of the universe. They'd sell their mothers to a bunch of horney drunken sailors on shore leave if it meant a couple extra pesos on the bonus cheque.

If I went before a body or tribunal or judge and said, oops, sorry dude, it would be open season for me and my arse in the clink.

For a banker, they get a pat on the head and a chance to screw everyone over yet again.

I hate this system.

Really.



posted on Jul, 17 2012 @ 04:14 PM
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Originally posted by GoalPoster
Bankers . . . the true whores of the universe. They'd sell their mothers to a bunch of horney drunken sailors on shore leave if it meant a couple extra pesos on the bonus cheque.

If I went before a body or tribunal or judge and said, oops, sorry dude, it would be open season for me and my arse in the clink.

For a banker, they get a pat on the head and a chance to screw everyone over yet again.

I hate this system.

Really.



Exactly.

Here's some more info from the BBC.

www.bbc.co.uk...

It's got a link to a PDF of the report too.


HSBC provided a conduit for "drug kingpins and rogue nations", according to a US Senate committee investigating money laundering claims at the bank.

Its report said suspicious funds from countries including Mexico, Iran and Syria had passed through the bank.



posted on Jul, 17 2012 @ 05:18 PM
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There a big bank, a TBTF, well i guess if there sorry then everything is ok then.

but dont you steal food from the supermarket when your hungery, youll go to jail for 5 years.



posted on Jul, 17 2012 @ 08:00 PM
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Originally posted by camaro68ss
There a big bank, a TBTF, well i guess if there sorry then everything is ok then.

but dont you steal food from the supermarket when your hungery, youll go to jail for 5 years.


Exactly. I guess relatively the smaller the person, the bigger the sentence?



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