[P2P-F] Fwd: Rolling Stone Article : HSBC Settlement Proves the Drug War is a Joke By MATT TAIBBI

[Michel Bauwens]

---------- Forwarded message ----------
From: Dante-Gabryell Monson <dante.monson at gmail.com>
Date: Mon, May 27, 2013 at 8:41 AM
Subject: Rolling Stone Article : HSBC Settlement Proves the Drug War is a
Joke By MATT TAIBBI
To: econowmix at googlegroups.com, agile-vortex at googlegroups.com


http://www.rollingstone.com/politics/blogs/taibblog/outrageous-hsbc-settlement-proves-the-drug-war-is-a-joke-20121213

 HSBC Settlement Proves the Drug War is a Joke

*By* MATT TAIBBI <http://www.rollingstone.com/contributor/>

excerpted :

Though this was not stated explicitly, the government's rationale in not
pursuing criminal prosecutions against the bank was apparently rooted in
concerns that putting executives from a "systemically important
institution" in jail for drug laundering would threaten the stability of
the financial system. The *New York Times* put it this way:

Federal and state authorities have chosen not to
indict<http://dealbook.nytimes.com/2012/12/10/hsbc-said-to-near-1-9-billion-settlement-over-money-laundering/?ref=business>
HSBC,
the London-based bank, on charges of vast and prolonged money laundering,
for fear that criminal prosecution would topple the bank and, in the
process, endanger the financial system.




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