HSCA will be fined a *!*RECORD*!* $1.9 billion for (among other tiddly-bits of vileness) laundering Mexican drug money and skirting international sanctions.
There's a hanging offense in there somewhere, but HSBC is getting away with, according to NPR this morning, a mere 10% ("dime on the dollar") of a single year's profits.
We really need to stop being so hard on corporations in this country. One way is to make friendly gesture, like sending our government officials to HSBC to work for the company in crime and money-laundering...
HSBC announced Monday that Robert Werner, a former head of the Treasury Department agencies responsible for sanctions against terrorist financing and money laundering, is taking a new position within HSBC as head of group financial crime compliance and group money-laundering reporting officer. Werner has been head of global standards assurance since August.
In January, HSBC hired Stuart Levey, a former Treasury undersecretary for terrorism and financial intelligence, as its chief legal officer. And a former policy adviser in the Obama administration, Preeta Bansal, in October became HSBC's global general counsel for litigation and regulatory affairs. ...CBS News
Way to go, guys!
Comments