Friday, December 21, 2012


It's good to be back in the USA, even if the world seems to have gone hell in a handbasket in my absence. I'm going to keep my distance from the big stories that have exploded through our media in the last few weeks, because there's not much I can say that will be constructive, original, and/or helpful.

And so, we arrive at HSBC, that multi-billion dollar firm that was found to be involved in a whole slew of questionable projects. Despite a mountain of evidence, HSBC was given a deal by which they paid a little over a billion dollars in fines (less than 10% of their profits from last year).

This is another stark contrast to the flesh-and-blood person and the corporate person in America. While an organic person would have been locked up for money laundering schemes of this magnitude, HSBC gets away with next-to-nothing in repurcussions for their actions. And the reason? According to the NY Times, "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."

1 comment:

samp said...

Here we go again....another bank too big to fail. More like too many "important and political people would be exposed if they pursued this. I have long contented that many in our congress are the crooks. They rob our SS and other programs to pay for their pet projects then say we will have to adjust our entitlements. The President's approach is to restructure the cost of living adjustments for Social Security recipients so they get less. So much for helping the middle class and those struggling to make ends meet. Thank you Mr. President. Remember, this is the guy who the people voted back into office. I am afraid they will now get what they asked for as we begin to see the "real" Obama come into focus. If any of us had done what congress has done we'd be in jail. Oh that's right they pass no laws under which they are subject. Pathetic excuses for human beings let along the peoples' representatives.

Welcome home. Wonderful to see you back. Merry Christmas......