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Old 12-17-2012, 09:12 AM
 
Location: The beautiful Garden State
2,713 posts, read 3,668,447 times
Reputation: 3594

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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
 
7,919 posts, read 4,506,304 times
Reputation: 7387
Happens every day. Nothin new.
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Old 12-17-2012, 11:14 PM
 
Location: Here.
15,454 posts, read 14,020,146 times
Reputation: 18080
Too big to jail.
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Old 12-19-2012, 07:59 AM
 
6,715 posts, read 7,727,336 times
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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 555,966 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
 
1,720 posts, read 1,835,641 times
Reputation: 1291
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
 
4,441 posts, read 3,190,567 times
Reputation: 2823
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
 
4,441 posts, read 3,190,567 times
Reputation: 2823
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
 
1,720 posts, read 1,835,641 times
Reputation: 1291
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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