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« Presidential Shankapotomos (Watch Obama's Golf Swing) | Main | Glenn Greenwald: 'HSBC Is The Too Big To Jail Poster Child' »
Saturday
Feb162013

Jon Stewart Rips HSBC: 'Bank Wankers Too Big To Jail'

Stewart nails it in the final 30 seconds.

Daily Show Video - HSBC proves too big to prosecute when it comes to laundering money for terrorists and Mexican drug cartels.

Last week two Senators looking for press sent the following completely useless letter to Eric Holder at the Justice Department.  While sounding all the right notes, there is nothing punitive within, just more hot air from Congress looking to assuage an angry constituency.

***

Brown, Grassley Press Justice Department On Too Big To Jail

Senators Question Whether Too Big to Fail Status Of Wall Street Banks Undermines Government’s Ability to Prosecute Large Financial Institutions

“Wall Street megabanks aren’t just too big to fail, they’re increasingly too big to jail,” Brown said. “Already, the nation’s six largest megabanks enjoy what amounts to taxpayer-funded guarantee by virtue of their size, making it harder for regional and community banks to compete. Now, these megabanks may also enjoy some impunity when they violate the law by laundering money or illegally foreclosing on homeowners.  Wall Street should pay the full price of its wrongdoing, not pass the costs along to taxpayers.”

“The best deterrent to crime is to put people in prison,” Grassley said.  “That includes those at powerful banks and corporations.  Unfortunately, we’ve seen little willingness to charge these individuals criminally.  The public deserves an explanation of how the Justice Department arrives at these decisions.”

Read the full letter here...

 

 

A must read:

Matt Taibbi: 'Outrageous HSBC Settlement Proves The Drug War Is A Joke'

"If the law doesn’t apply equally to everybody, then you don’t really have a system of law.  And so you have a built-in defense for everybody in every drug case forever.  I mean, if you get caught with a stem of marijuana, how do you not stand up and say, ‘You’re going to send me to jail for this where a guy who laundered a billion dollars for a bunch of murderers gets nothing?’"

 

Last week:

Jon Stewart: The Ungrateful Bastards Of AIG

 

 

Photo by William Banzai7...

The laundry of HSBC
This money is clean as can be
Banks criminal ways
Shows that crime always pays
Move along, there is nothing to see

The Limerick King

 

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Reader Comments (10)

"The decision to not prosecute in this instance belies everything that the government has ever done with regard to drug prosecutions everywhere. I mean, when you think about the way they behave toward ordinary people who get caught up in drug cases, where they seize all your property and they use absolutely the maximum sentences they can possibly avail themselves of, and in this case they catch a bank that launders billions of dollars for Colombian and Mexican drug cartels … for years on end, and they can’t find something to charge these people with?"

http://dailybail.com/home/matt-taibbi-even-people-on-wall-street-were-blown-away-by-th.html
Feb 5, 2013 at 3:15 AM | Registered CommenterDailyBail
President Barack Obama will meet with chief executives from 12 companies including Goldman Sachs Group's Lloyd Blankfein and Yahoo's Marissa Mayer on Tuesday to discuss immigration and deficit reduction, according to a White House official.

http://www.cnbc.com/id/100433181
Feb 5, 2013 at 3:38 AM | Unregistered CommenterDailyBail
Watch the Dollar: It Could Trigger the Next Crisis

http://www.cnbc.com/id/100433591

Expectations of an end to ultra-easy U.S. monetary policy are likely to set in during the second-half of 2013, triggering a bull run in the dollar that could last for five years.
Feb 5, 2013 at 3:39 AM | Unregistered CommenterDailyBail
The Words on Every Bond Manager’s Lips: Short Duration

http://www.cnbc.com/id/100433700
Feb 5, 2013 at 3:40 AM | Unregistered CommenterDailyBail
The fine is less than the profit made by committing the crime , how is that punishment ?
And the MSM allows it to happen unreported almost ! WTF ?
Feb 5, 2013 at 5:38 AM | Unregistered Commentermick
Yea pretty much Mick. Anytime I talk with anyone about this particular case and I just get the look.
Feb 5, 2013 at 6:46 AM | Unregistered CommenterSKINFLINT
"The fine is less than the profit made by committing the crime , how is that punishment ?"

Consider it a tax, or the cost of doing business, not a punishment.
Feb 5, 2013 at 10:47 AM | Unregistered CommenterS. Gompers
"Anytime I talk with anyone about this particular case and I just get the look."

I know this look well. TV viewers wear it 24/7: if it's on TV, it's true, and if it's not on TV, it either isn't true or doesn't matter. TV is a religion, and facts are for blasphemers and heretics. Peppering the dupes with questions is scarcely any different than pouring salt onto slugs.
Feb 5, 2013 at 12:42 PM | Registered CommenterCheyenne
SEPT 11 2001 Attacks not one government official or Larry Silversteiin or Aerial Sharon or Barak , went to jail.The money changers belong to the same cult.
Feb 5, 2013 at 3:51 PM | Unregistered Commenterjojo

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