HSBC Narco-Bank: Too big to fail, too big to go to jail
July 27, 2012
by Daniel Hopsicker
The big news in the US Senate's Permanent Sub-Committee on Investigation's 340-page report released last week on drug money-laundering by London's HSBC Bank, the world's 4th largest, is the answer to the question: Is there a bigger Drug Lord in the world than Mexico's Sinaloa Cartel Honcho Shorty (El Chapo) Guzman?
Perhaps surprisingly, the answer is yes. His job's as important at Shorty Guzman's, even if he doesn't get the same kind of press. But first, a quick peek at how and why the Senate Report made one thing- as Richard Nixon used to say-perfectly clear:
Crime pays. At least if you're a banker.
Read the full story:
http://www.madcowprod.com/2012/07/27/hsbc-narcobank-big-fail-big-jail/
|