British-based HSBC, the largest bank on the planet,
laundered billions of dollars for Mexican drug cartels and sanctioned
governments like Iran. But no one will go to jail. Instead they have been
ordered to pay a fine. Granted, the fine is $1.92 billion, but for an
institution that has assets of $2.5 trillion and yearly profits of $22 billion,
it’s a write off.
U.S. prosecutors decided that actually punishing the white-collar
criminals who oversaw these illegal transactions would ruin the bank’s
reputation and destabilize world economic markets. So the British and U.S.
executives at HSBC who took part in this criminal enterprise get to stay in
their mansions, keep their Rolls Royces and sleep in their satin sheets.
If I go out on the street today and get caught selling an
ounce of coke, I would face a mandatory
minimum 5- to 20-year jail term, with a possible maximum term of life
imprisonment.
I’m too little to
win.
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