“State and federal authorities decided against indicting HSBC in a money-laundering case over concerns that criminal charges could jeopardize one of the world’s largest banks and ultimately destabilize the global financial system.”
Sometimes you require very few words to provide insight into a particular situation. The HSBC story is one of these instances.
What’s the message that state and federal authorities are sending . . . it is okay to blatantly break a law that would result in significant jail time for a normal citizen as long as you are a big financial institution?
I wonder when the gates of freedom are going to open for Madoff, Ebbers and Skilling? Oh maybe that’s where they went wrong . . . they weren’t the top dogs at a bank. And don’t get me going on the colossal stupidity that is the purported war on drugs.
So what are your thoughts regarding the government’s decision not to prosecute HSBC?