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Tuesday, 12 July 2016

New Evidence Proves HSBC Avoided Criminal Prosecution Due to “Market Risk”

Michael Krieger 
Liberty Blitzkrieg 

All that said, if anyone is a top contender for the worst of the worst of the Obama Administration, it’s Eric Holder. As head of the Department of Justice, he was the one man who could’ve played an enormously positive role in American society, by punishing those responsible for creating the financial crisis that destroyed tens of millions of lives globally. Instead, he chose to actively protect the financial oligarchs and ushered in a tragic new era for these United States. One in which the world suddenly realized that the U.S. is little more than a glorified oligarchy. Essentially an aggressive Banana Republic armed with nuclear weapons and the swagger of a third world dictator.

– From the post: Cronyism Pays – Eric “Too Big to Jail” Holder Triumphantly Returns to His Prior Corporate Law Firm Job

The precedent was set with the TBTF mega banks, and it was continued last week with the non-indictment of Hillary Clinton.

The rule of law simply no longer exists in America. Laws do not apply to the rich and powerful, only apply to the peasant citizens.

The following is absolutely disgusting. From the BBC:

US officials refused to prosecute HSBC for money laundering in 2012 because of concerns it would cause a “global financial disaster”. 
A US Congressional report released Monday also accused former Attorney General Eric Holder of misleading congress about the decision. 
In 2012 HSBC was accused of violating US sanctions and allowing drug cartels to use its branches to launder funds. 
The bank paid a $1.92bn settlement but did not face criminal charges.
No top officials at HSBC were charged with any crimes.
The report says Mr Holder ignored the recommendations of more junior staff to prosecute HSBC because of the bank’s “systemic importance” to the financial markets.
Read more

See also: HSBC reportedly got top govt help to hamper money laundering probe- reports

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