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12/13/2012

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Oliver

The whole edifice of banking and finance is corrupt, along with those lax regulators who exist only for show.

This edifice is just like an iceberg floating in an earth-sized pig trough. Like an iceberg, nine-tenths of the corruption is below the surface, unseen.

HSBC is the current faux-defendant in one of the periodic show trials designed to maintain the charade that government authorities are interested in the rule of law. There is no longer due process of law when it comes to financial institutions. They continue to get away with the biggest heist in history, otherwise known as the too-big-to-fail bailout.

If anyone had the genuine authorization to properly check for illegality in all these financial institutions, I'd bet my last dollar that every one was operating corruptly without fear of jail among the management clique.

For this reason only - let alone the end of resource plenty and the beginning of lethal-to-humans biosphere - the end game is looming in sight for all of us. Iceberg/Titanic is a good enough metaphor for me.

Lin S

Crime pays.

ben

wow

Ean Gray


"In January, HSBC hired Stuart A. Levey as chief legal officer to come up with stricter internal standards to thwart the illegal flow of cash. Mr. Levey was formerly an under secretary at the Treasury Department who focused on terrorism and financial intelligence [image above].

Please feel free to draw your own conclusions about HSBC hiring former undersecretary of the Treasury for terrorism and financial intelligence Stuart A. Levey to be their chief legal officer after laundering $60 trillion from 2001 to 2010 to support Mexican drug lords, Al-Qaeda terrorists and God Only Knows who else, and then getting what amounts to a slap on the wrist for doing so."

Good God, this is so corrupt you could literally write an 1-hour long fiction movie without even having to stretch the truth for dramatic effect

JohnWDB

Jesus wept

Ben

Too big to jail.

Glenn Greenwald article: http://www.guardian.co.uk/commentisfree/2012/dec/12/hsbc-prosecution-fine-money-laundering

"HSBC, too big to jail, is the new poster child for US two-tiered justice system"

"The US is the world's largest prison state, imprisoning more of its citizens than any nation on earth, both in absolute numbers and proportionally. It imprisons people for longer periods of time, more mercilessly, and for more trivial transgressions than any nation in the west. This sprawling penal state has been constructed over decades, by both political parties, and it punishes the poor and racial minorities at overwhelmingly disproportionate rates."

Oliver

@ Ben - thanks for the timely reminder about the prison state. With US jails already overflowing with upwards of 3 million prisoners/slave labourers, I'm sure the top tier have a new Final Solution in mind when the dispossessed and hungry start agitating for real.

If we need evidence, look no further than the massive militarisation of the police forces in the US and UK, including colossal purchases of ammunition state-side.

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TulsaTime

Did we really need any final proof of the corporate kleptocracy that America has become? And if anyone imagines that this is the only bank involved in massive laundering activities, pu-leese! This is the reason 85% of the country thinks we are on the wrong track.

The west has moved from industrial, to political, to financial poison, kind of like the druggie's march to heroin. Society will be dismembered for fun and profit unless we crash and burn it first. We'll spiral in, while proclaiming our exceptionalism and growth around the corner to save us.

So many descriptions of this situation, fall of Rome, tail wagging the dog, societal tunnel vision. The list goes on and on. We are in the process of vanquishing ourselves, too self absorbed to care.

Oliver

@ Ben - thanks for the further reference. In the You Couldn't Make This Up department, the white-leaning black mayor's name is Gray.

The article does quote spurious evidence to justify the assertion that a Plan exists to reduce the black population in DC. But we can simply look at the wholly disproportionate ethnic make-up of the US jail population to see proof that non-whites are persona non grata in the US Empire - unless of course they are required as cannon fodder in imperialist wars overseas.

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