US Refuses To Charge HSBC Because It Could Hurt The Financial System

As it turns out, the rumors were true — HSBC escaped prosecution for money laundering because the behemoth bank was “too big to jail.”

Claire Bernish
By Claire Bernish
This is a Monday, Feb. 27, 2012 file photo of a pedestrian passes a branch of HSBC bank in London. (AP Photo/Kirsty Wigglesworth, File)

A U.S. Congressional report, entitled “Too Big to Jail: Inside the Obama Justice Department’s Decision Not to Hold Wall Street Accountable,” found officials in the U.K. applied the economic threat warning of “market turmoil” to ensure HSBC wouldn’t be subject to prosecution for rather serious allegations. Among a multitude of other findings,

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Feds Helped Hide Investigation Into HSBC Money Laundering For Drug Cartels

In addition to failing to prosecute clearly criminal behavior that any average American would be imprisoned for committing, from the outset, the DOJ assisted HSBC in keeping its dealings clandestine.

Carey Wedler
By Carey Wedler
An HSBC office building is shown here. (AP Photo/Alexandre Meneghini)

A federal judge ruled last week that the Hong Kong and Shanghai Banking Corporation (HSBC) will be forced to share a report on its business practices with the public — a decision both the bank and the Department of Justice (DOJ) fought in court to prevent. The report is based on the findings of an ongoing government audit of the bank initiated amid

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Former IMF Chief Under Investigation For Money Laundering, Now Arrested

Rato’s dealings include misappropriation of funds through a Visa card totaling 6 Million Euro, income from serving on the international advisory board of a Turkish bank in violation of Spanish banking laws, and a series of shell corporation divestments.

Justin King
By Justin King
Former IMF managing director Rodrigo Rato, center, arrives at the National Court in Madrid, Spain, to answer questions over his stewardship of Spanish bank, Bankia. Former International Monetary Fund chief Rodrigo Rato was detained by police Thursday night April 16, 2015, according to media reports, after tax officials spent hours searching his apartment.

Former IMF managing director Rodrigo Rato, center, arrives at the National Court in Madrid, Spain, to answer questions over his stewardship of Spanish bank, Bankia.  Former International Monetary Fund chief Rodrigo Rato was detained by police Thursday night April 16, 2015,  according to media reports, after tax officials spent hours searching his

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Arrest Of Alleged Silk Road Ringleader Threatens Circulation Of Bitcoins

Was the FBI’s real target not the online drug marketplace, but the cyber-currency that it dealt in?

Frederick Reese
By Frederick Reese

It was a libertarian’s dream gone wild: a marketplace in which just about anything can be bought, by anyone, at any time without the worries of being overseen by the authorities. It was a secret corner in the deepest recesses of the Internet, inaccessible by conventional means, considered an unsubstantiated rumor prior to Gawker breaking the story

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Study: ‘War On Drugs’ Failed To Limit Or Control Drugs

Instead, the drug market defied conventional economic wisdom and became cheaper and more widespread in face of law enforcement.

Frederick Reese
By Frederick Reese

Last week, the United States attorney in Manhattan announced that a former Army sergeant has been charged with conspiracy following a federal sting operation on his team’s attempts on international drug trafficking and targeted assassinations. Joseph Hunter, 48, led a team of former soldiers -- which included former Army soldier Timothy Vamvakias,

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