Remember That One Time The U.S. Let A Big Bank Off The Hook For Laundering Money For Terrorists?
I'll just get this out of the way up front: Yes, really.Even after substantial evidence indicated that senior bank officials ignored over 17,000 internal compliance review notifications and continued to allow the laundering of $60 trillion for known terror organizations (including al-Qaeda and one of the 9/11 hijackers) and Mexican drug cartels, HSBC was let off the hook with a mere $1.9 billion fine and will face no criminal charges. I know what you're probably thinking: "$1.9 billion is a lot of money," which it is. Unless you're a bank like HSBC, which makes roughly that much in four weeks. Ain't the American justice system grand?