HSBC “Too Big to Jail” – U.S. codifies “two” laws for powerful and non-powerful people

December 16, 2012 by · Leave a Comment
Filed under: Opinion 

I really took time to think about what I waited to say.  I want to start with that, the rule of law has failed in the United States.  With the HSBC settlement we have effective codified “two” sets of laws in America.  One with influence & power and another for the common citizen.

This bank the operates on sovereign American soil committed crimes are in defiance of all the major criminal activities we shed so much blood and sweat for, terrorism, drug cartels and trading with the enemy.  This wasn’t small sums of money or just a single incident.  This was systematic over a decade involving reports of up to $60 TRILLION DOLLARS.  Just take a second and let the set in.

The reasoning the Justice Department (what Justice?) gave was that HSBC:

Federal and state authorities have chosen not to indict HSBC, the London-based bank, on charges of vast and prolonged money laundering, for fear that criminal prosecution would topple the bank and, in the process, endanger the financial system.

What this means is that if your somehow vital to global or national interests, you do not need to follow criminal law and are basically untouchable.  Well there you have it, commoner law and elite law.  Once the rule of law fails it is not long when more institutions fail and general faith in the system sets in.  Once you have that, you will see more lawless behavior from more disenfranchised people, the precedent (I have talked about this many times) you set at the tops give other people a reason why they should do whatever they want because their is not enough incentive to follow the rules other than police action.  Problem is that their is not enough cops to walk that type of beat.
Our country and way of life is directly being threatened and I believe this will be looked upon and a watershed moment in history by future generations.   This is not isolated either, every major bank in our country has had to settle for some form of fraud or other criminal behavior.   We let them settle and it just supports this two-law system in the United States.   Maybe our country needs to fail for people to wake up and actually hold people to account and participate in this constitutional republic.  We have lost our way and we don’t seem to have enough spine to stand to say “NO MORE”.
Rolling Stones (Matt Taibbi) – If you’ve ever been arrested on a drug charge, if you’ve ever spent even a day in jail for having a stem of marijuana in your pocket or “drug paraphernalia” in your gym bag, Assistant Attorney General and longtime Bill Clinton pal Lanny Breuer has a message for you: Bite me.

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Standard Chartered could lose banking license on possible money laundering charges

August 6, 2012 by · Leave a Comment
Filed under: Legal News 

The bad news just keeps coming.  On the heels of HSBC having possible terrorism funding links, now Standard Charter look to have violated the sanctions on Iran by the order of $250 BILLION in transactions that should not of happened, this is even after the said they cuts ties with the Iranian Government in 2007.  When are we going to hand down the “Rule of Law” and make it apply to everyone?   How long are the antics going to be tolerated by the general public.

We are now calling outright “Fraud”, “Mis-selling” to make it sound not so bad.   White collar crimes are the worst of the bunch in my book because it involves people who have the means and intelligence to know better but choose to commit crimes.   If I go rob a store, I can’t go into court and settle without admitting guilt.   Some of these crimes I read about daily, show nothing but guilt but we can’t seem to be able to put anyone in jail.   Are we that captured as a society?   Do we really not have the spine and gut to do what needs to be done regardless of the cost?    I want everyone to ask themselves these questions tonight and think about that every-time you read another one of these stories.

I try everyday not to become numb to this because I believe we will have a moment of clarity and then and only then we will see meaningful change.   In my opinion, this is the civil rights issue of our time.   Will the civil have the same laws as the privileged and will the sword of justice come down equally on both groups of class?

WSJ – British banks just can’t seem to stay out of trouble with U.S. regulators. Barclays paid a huge fine for its role in manipulating Libor. HSBC then came unstuck on money-laundering charges. Now it is Standard Chartered’s turn.

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