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Elizabeth Warren Wants HSBC Bankers Jailed for Money Laundering
Key Excerpts from Article on Website of ABC News
Posted: March 19th, 2013
http://abcnews.go.com/blogs/politics/2013/03/elizabeth-warre...
Elizabeth Warren has a question: How much money does a bank have to launder before people go to jail? Warren ... posed that question numerous times to financial regulators at a Senate Banking Committee hearing [on] banks and money laundering. In December, U.S. Justice Department officials announced that HSBC, Europes largest bank, would pay a $1.92 billion fine after laundering $881 million for drug cartels in Mexico and Colombia. The two regulators, Under Secretary for Terrorism and Financial Intelligence David S. Cohen and Federal Reserve Governor Jerome H. Powell, deflected Warrens questions, saying that criminal prosecutions are for the Justice Department to decide. An exasperated Warren said, as she wrapped up her questioning, If youre caught with an ounce of cocaine, the chances are good youre going to jail. If it happens repeatedly, you may go to jail for the rest of your life. But evidently, if you launder nearly a billion dollars for drug cartels and violate our international sanctions, your company pays a fine and you go home and sleep in your own bed at night every single individual associated with this and I just think thats fundamentally wrong.
Note: For deeply revealing reports from reliable major media sources on the collusion between government and finance, click here.
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