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HSBC: “Who cares if Miami is underwater?”
Scenes from the “Moral Money Summit.”
Before I tell you about how HSBC just announced it wants to literally render the planet Earth unfit for human habitation, I want to talk about HSBC’s other crimes. Remember the LIBOR scandal? HSBC was neck-deep in it, costing the world’s public coffers trillions through fraud?
HSBC used laundered money from the world’s most corrupt people to cash out on its LIBOR rigging. Remember SwissLeaks? They paid EUR300m to settle French claims related to the laundering, and somehow escaped real consequences in the many other countries implicated in the leak:
https://en.wikipedia.org/wiki/Swiss_Leaks
HSBC often gets away with it. They’re in the top three corporations to have received “deferred prosecution agreements” from the US DOJ, which are a kind of good-behavior-based stay of criminal charges. When HSBC fails to end its criminal conduct, it doesn’t get punished — it gets another DPA.
