General Discussion
In reply to the discussion: Look, I suck. I get that. [View all]adirondacker
(2,921 posts)"MATT TAIBBI: So, HSBC, again, this is one of the worlds largest banks. Its Europes largest bank. And a few years ago, they got caught, swept up for a variety of offenses, money-laundering offenses. But one of them involved admitting that they had laundered $850 million for a pairfor two drug cartels, one in Mexico and one in South America, and including the notorious Sinaloa drug cartel in Mexico that is suspected in thousands of murders.
And in that case, they paid a fine; they paid a $1.9 billion fine. And some of the executives had to defer their bonuses for a period of five yearsnot give them up, defer them. But there were no individual consequences for any of the executives. Nobody had to pull money out of their own pockets for permanently. And nobody did a single day in jail in that case.
And that, to me, was an incredibly striking case. I ran that very day to the courthouse here in New York, and I asked around to the public defenders, you know, "Whats the dumbest drug case you had today?" And I found somebody who had been thrown in Rikers for 47 days for having a joint in his pocket. So"