Former Columnist Alleges Daily Telegraph Folded For HSBC

By: Wednesday February 18, 2015 10:04 am

Peter Oborne, formerly a columnist for the Daily Telegraph, claims that while he worked at the Telegraph the London newspaper killed and ignored stories that could do damage to megabank HSBC’s reputation and business. Oborne made the allegations in a piece announcing his resignation from the Telegraph which was posted on Open Democracy, a digital [...]

Loretta Lynch’s HSBC Deal Facing Renewed Criticism After ICIJ Report

By: Tuesday February 10, 2015 8:50 am

Again, did AG nominee Loretta Lynch let HSBC off the hook by declining criminal prosecution? — marcus baram (@mbaram) February 8, 2015 US Attorney General nominee Loretta Lynch is facing criticism for the deal she made that let HSBC escape prosecution after being found to have participated in a serious and far reaching program [...]

JPMorgan Facing New Investigation, Citigroup And HSBC Set Aside Funds For Legal Problems

By: Tuesday November 4, 2014 9:59 am

Another day, another exposure of criminal activity on Wall Street. Too Big To Fail/Jail bank JPMorgan is once again under investigation, this time for its conduct in the foreign exchange (forex) market. The Department of Justice probe is reportedly going to cost JPMorgan billions adding to an estimated $5.9 billion in total legal costs at [...]

As Bitcoin Becomes Billion Dollar Market America Moves For Crackdown

By: Friday March 29, 2013 1:16 pm

The bitcoin market has officially crossed the billion dollar mark. It was a mere two years ago that bitcoins were introduced as an alternative currency to those controlled by States. Bitcoins are decentralized and digital using peer to peer technology – a truly free market. Hang around in the tech industry long enough and you [...]

Obama Plans For Spy Agencies To Have Total Access To American’s Financial Information

By: Thursday March 14, 2013 5:41 am

As the Obama Administration continues to expand the policies of the Bush Administration the newest theater of the War on Terror is your checking account. The Obama administration is drawing up plans to give all U.S. spy agencies full access to a massive database that contains financial data on American citizens and others who bank [...]

Elizabeth Warren Wants HSBC Bankers Jailed, Regulators Have Ties To Bank

By: Friday March 8, 2013 9:39 am

In a nation that has imprisoned millions (mostly poor, mostly minorities) of people for minor drug offenses a bank that laundered billions of dollars in drug money, HSBC, has walked away with a small fine. No jail time, no charter removal, just a few weeks profit and on the game goes. Senator Elizabeth Warren is [...]

British Might End Too Big To Fail Banking

By: Monday February 4, 2013 6:59 am

After a global financial crisis, an epic price fixing scandal, and embarrassing criminal conduct British regulators are considering ending Too Big To Fail Banking. British Finance Minister George Osborne has proposed legislation that if banks do not shield their riskier investment activities from day to day banking they will face restructuring. Britain is shaking up [...]

Predators: HSBC Faces Lawsuit For Targeting Minorities

By: Wednesday December 26, 2012 7:02 am

Admitted Drug Money Launders HSBC are going back to court. This time the firm will not be apologizing for helping Mexican Drug Cartels or 9/11 Hijackers evade the law but for predatory lending targeted at minorities. From the Associated Press: Three Atlanta-area counties have filed a lawsuit claiming that British bank HSBC cost them hundreds [...]

Republicans and Democrats Speak Out Against “Too Big to Jail” HSBC Case

By: Monday December 17, 2012 8:30 am

We now have bipartisan anger at the decision to hold HSBC and its executives harmlessfor years of money laundering and facilitating the culture of Mexican drug cartels. In fact, only the shareholders will pay, and not all that much, what amounts to five weeks’ worth of profits for the bank. The certainty of not being [...]

Felix Salmon’s Unpersuasive Argument to Hold HSBC and Its Executives Harmless

By: Friday December 14, 2012 8:30 am

It would be irresponsible for me to say that Felix Salmon probably cashed a nice check from the banking industry when he produced this defense of the US declining to prosecute HSBC for money laundering. I think a couple elements of his piece wind up being self-negating, so I don’t have to do much work. [...]

The HSBC Money Laundering Case as a Perfect Symbol of Too Big to Fail

By: Thursday December 13, 2012 6:19 am

Maybe I was too blasé about the federal government letting HSBC off the hook; certainly the story has effectively shown how Too Big to Fail continues to be the watchword of the financial regulatory community. My pet theory here is actually that, because practically every mega-bank engaged in this same type of money laundering for [...]

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