The banking giant HSBC has escaped indictment
for laundering billions of dollars for Mexican drug cartels and groups
linked to al-Qaeda. Despite evidence of wrongdoing, the U.S. Department
of Justice has allowed the bank to avoid prosecution and pay a $1.9
billion fine. No top HSBC officials will face
charges, either. We’re joined by Rolling Stone contributing editor Matt
Taibbi, author of "Griftopia: A Story of Bankers, Politicians, and the
Most Audacious Power Grab in American History." "You can do real time in
jail in America for all kinds of ridiculous offenses," Taibbi says.
"Here we have a bank that laundered $800 million of drug money, and they
can’t find a way to put anybody in jail for that. That sends an
incredible message, not just to the financial sector but to everybody.
It’s an obvious, clear double standard, where one set of people gets to
break the rules as much as they want and another set of people can’t
break any rules at all without going to jail."
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