Matt Taibbi writes about HSBC and its century-plus adventure in being an outlaw bank and friendly destination for outlaws' money.
Pretty entertaining and informative.
http://www.rollingstone.com/politics/ne ... l-20130214
Rolling Stone Piece on HSBC: "Too Big To Jail"
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Rolling Stone Piece on HSBC: "Too Big To Jail"
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Re: Rolling Stone Piece on HSBC: "Too Big To Jail"
Wow...I don't even really know what to think about that, although it seems outrageous.
Is the Justice Dept right? Would a bigger penalty have undermined the world economy, or is that just an excuse? Does it even matter?
Is the Justice Dept right? Would a bigger penalty have undermined the world economy, or is that just an excuse? Does it even matter?
"All men's miseries derive from not being able to sit in a quiet room alone."
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Re: Rolling Stone Piece on HSBC: "Too Big To Jail"
If you can consistently and successfully make the argument of "Don't punish my client--if you do it will jeopardize the world economy!!!", then I say bravo on your ability to bullshit your regulators.AdamA wrote: Wow...I don't even really know what to think about that, although it seems outrageous.
Is the Justice Dept right? Would a bigger penalty have undermined the world economy, or is that just an excuse? Does it even matter?
One thing I would like to know is that if the Obama administration is so anti-business why the heck haven't there been more indictments and enforcement actions against these crooked bankers? It's really weird.
Q: “Do you have funny shaped balloons?”
A: “Not unless round is funny.”
A: “Not unless round is funny.”
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RuralEngineer
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Re: Rolling Stone Piece on HSBC: "Too Big To Jail"
I chalk this up to the universal and pervasive hypocrisy of the political class. This is from the same folks that want to ban guns, but have armed guards or carry guns themselves. The people that restrict freedom in the name of morality but cheat on their spouses. The individuals who support abortion and decry the death penalty, support human rights but authorize execution by drone fired missile without trail (for citizens). I could go on, but in short very little that happens in Washington makes any logical sense.MediumTex wrote: One thing I would like to know is that if the Obama administration is so anti-business why the heck haven't there been more indictments and enforcement actions against these crooked bankers? It's really weird.
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dualstow
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Re: Rolling Stone Piece on HSBC: "Too Big To Jail"
It's always interesting to read these pieces. A blood relative of mine is one of the few to have been incarcerated as a result of the latest crash & toxic asset debacle. { It goes without saying, but I'll state it explicitly: our lifestyles, investing habits, etc have nothing in common }.
No money in our jackets and our jeans are torn/
your hands are cold but your lips are warm _ . /
your hands are cold but your lips are warm _ . /