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Old 12-17-2012, 09:12 AM
 
Location: The beautiful Garden State
2,702 posts, read 3,644,203 times
Reputation: 3582

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HSBC Will Pay Record $1.9 Billion to Settle Money Laundering Case - ABC News

Big banks being favored again. These bums need to go to prison!
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Old 12-17-2012, 08:10 PM
 
7,472 posts, read 4,355,917 times
Reputation: 7005
Happens every day. Nothin new.
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Old 12-17-2012, 11:14 PM
Status: "I vote for policies, not personalities." (set 3 days ago)
 
Location: Here.
15,440 posts, read 13,910,094 times
Reputation: 18037
Too big to jail.
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Old 12-19-2012, 07:59 AM
 
6,631 posts, read 7,617,277 times
Reputation: 17336
This whole thing burns my butt big time. They benefited in the billions, and paid a Goldmanesque paltry little fine of less than two billion. Those numbers sound big, until you consider that the amount they paid did not even equate to one quarters worth of earnings.

You want to change behavior, you fine people and you jail them. Maybe they should have paid 75 or 100 billion in fines such that the shareholders got the message and changed management. Maybe management should go to jail for ten years (and then be made to live in abandoned housing in Detroit--nothing against Detroiters, but you know what i mean) so they get the message too.

As it is, they get off with a slap on the wrist, some bureaucratic speak about how life is miserable, and allowed to go on their merry way. How may American lives did their behavior cost? How many billions in tax dollars were spent deterring drug use as a result of their behavior? Way more than the fine, let alone the amount of the fraud.

I supposed HSBC has bribed their way to this result. That doesn't make it correct. Maybe the politicians who took the bribes....er, campaign contributions... should do a few years for 'guilt by association' as well.

That is REAL punishment, and changes REAL behavior. A slap on the wrist like they got just gives the HSBC execs something to chat about at their Christmas bonus party.
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Old 12-19-2012, 02:23 PM
 
Location: Seattle, WA
209 posts, read 554,936 times
Reputation: 87
This will likely a watershed moment that will be looked upon among other cases. The general Rule of Law has failed and we have replaced with with a two-tiered system, one for the influential elites and another for everyone else. Will it stand is really the question people should ask themselves.
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Old 12-20-2012, 11:38 PM
 
1,712 posts, read 1,824,987 times
Reputation: 1265
Quote:
Originally Posted by BankREO View Post
This will likely a watershed moment that will be looked upon among other cases. The general Rule of Law has failed and we have replaced with with a two-tiered system, one for the influential elites and another for everyone else. Will it stand is really the question people should ask themselves.
It's time for a mother flucking revolution! The bastards are in the process of trying to confiscate our guns so that we can't take them out by firing squad as they deserve!
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Old 12-21-2012, 12:37 AM
 
4,281 posts, read 3,143,412 times
Reputation: 2704
Quote:
Originally Posted by BankREO View Post
This will likely a watershed moment that will be looked upon among other cases. The general Rule of Law has failed and we have replaced with with a two-tiered system, one for the influential elites and another for everyone else. Will it stand is really the question people should ask themselves.
Will this two-tiered system result in shorter lines at the ATM?
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Old 12-21-2012, 01:30 AM
 
4,281 posts, read 3,143,412 times
Reputation: 2704
Quote:
Originally Posted by airwave09 View Post
It's time for a mother flucking revolution! The bastards are in the process of trying to confiscate our guns so that we can't take them out by firing squad as they deserve!
You go on ahead, we'll be right behind you!
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Old 12-22-2012, 11:46 AM
 
1,712 posts, read 1,824,987 times
Reputation: 1265
Quote:
Originally Posted by shaker281 View Post
You go on ahead, we'll be right behind you!
Keep getting robbed blind by the banking elite and be subjected to their two-tier "justice" system. True freedom and liberty for the common man is obviously not important to you.

Insert head ---> sand.
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