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Wednesday, July 13, 2016

New Evidence Proves HSBC Avoided Criminal Prosecution Due to “Market Risk”...

Michael Krieger
Liberty Blitkrieg
July 12th, 2016
All that said, if anyone is a top contender for the worst of the worst of the Obama Administration, it’s Eric Holder. As head of the Department of Justice, he was the one man who could’ve played an enormously positive role in American society, by punishing those responsible for creating the financial crisis that destroyed tens of millions of lives globally. Instead, he chose to actively protect the financial oligarchs and ushered in a tragic new era for these United States. One in which the world suddenly realized that the U.S. is little more than a glorified oligarchy. Essentially an aggressive Banana Republic armed with nuclear weapons and the swagger of a third world dictator.
The precedent was set with the TBTF mega banks, and it was continued last week with the non-indictment of Hillary Clinton.
The rule of law simply no longer exists in America. Laws do not apply to the rich and powerful, only apply to the peasant citizens.
The following is absolutely disgusting. From the BBC:
US officials refused to prosecute HSBC for money laundering in 2012 because of concerns it would cause a “global financial disaster”. 
A US Congressional report released Monday also accused former Attorney General Eric Holder of misleading congress about the decision. 
In 2012 HSBC was accused of violating US sanctions and allowing drug cartels to use its branches to launder funds. 
The bank paid a $1.92bn settlement but did not face criminal charges.
No top officials at HSBC were charged with any crimes.
The report says Mr Holder ignored the recommendations of more junior staff to prosecute HSBC because of the bank’s “systemic importance” to the financial markets.
“Rather than lacking adequate evidence to prove HSBC’s criminal conduct, internal Treasury documents show that DOJ [Department of Justice] leadership declined to pursue [the] recommendation to prosecute HSBC because senior DOJ leaders were concerned that prosecuting the bank ‘could result in a global financial disaster’,” the report said.
Testifying before Congress in 2013 Mr Holder said the size of some financial institutions can make it difficult to bring criminal charges. 
He later tried to clarify those remarks telling congress, “If we find a bank or a financial institution that has done something wrong, if we can prove it beyond a reasonable doubt, those cases will be brought.”
Congress’ report deemed these comments to be misleading in light of emails from Treasury Department staff that recommended criminal charges.
The settlement allowed the bank to avoid pleading guilty to any wrongdoing and no officials from the bank were even charged. 
If HSBC had been proven guilty of criminal action it could have lost its banking charter in the US. 
HSBC and US regulators declined to comment on the report.
Of course, there’s no better way to end this post than with the following:
Thanks for playin’ America.

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