Posted on 07/17/2012 9:06:05 AM PDT by bayouranger
US Senators accuse HSBC of ‘letting Mexican gangs launder $7 billion and working with Saudi bank linked to terrorism’
* HSBC moved huge sum from Mexico into the U.S. between 2007 and 2008 * Provided services for Saudi Arabia’s Al Rajhi Bank linked to financing terrorism * Senate investigation suggests they also moved money tied to Iran * Accuses bank of ‘pervasively polluted’ culture * Another hammer blow to the credibility of British banking system after Barclays was fined for allegedly rigging LIBOR interest rate
HSBC has been accused of handling money from Mexican drugs cartels and working alongside a Saudi Arabian bank with links to international terrorism following a probe by the U.S. Senate.
An explosive report claims a ‘pervasively polluted’ culture at the bank led it to act as financier to clients seeking to route shadowy funds from the world’s most dangerous and secretive corners, including Mexico, Iran, the Cayman Islands, Saudi Arabia and Syria.
The Senate probe detailed how sweeping the problems have been, both at the bank and at the Office of the Comptroller of the Currency, a top U.S. bank regulator which the report said failed to properly monitor HSBC.
Powerhouse: HSBC headquarters in the City of London. The bank has been accused of laundering money for the Mexican mob
‘The culture at HSBC was pervasively polluted for a long time,’ said Senator Carl Levin, chairman of the U.S. Senate Permanent Subcommittee on Investigations, a Congressional watchdog panel.
The report comes at a troubling time for a banking industry reeling from a multi-country probe into the manipulation of global benchmark rates.
Last month, rival British bank Barclays Plc agreed to pay a $453 million fine to settle a U.S.- British probe into the rigging of the benchmark interest rate known as the London interbank..
(Excerpt) Read more at dailymail.co.uk ...
And for those of us who learned to read as kids, this is nothing new. Virtually EVERY Major banking institution in the US has been caught Laundering Profits for the Cartels, see market-ticker.org and Karl lists all the details. When caught a small fine is payed and then back to business as usual. If anybody out there actually believes that this is being hidden from the Government and that they are getting away with something, I have a bridge for sale in Long Beach. The Government at All Levels gets their cut regardless. Remember we cannot have a War on Drugs without Drugs, which means these Cartels need to have substantial profits to continue to supply us with the needed Drugs for our War on Drugs. And our own Government is making money on BOTH SIDES while we the people descend into serfdom. I still got that Bridge for Sale.
When people say 9.11 was an inside job --most of them don't mean George Bush did it. They mean the power brokers used the terrorists to do it for them to achieve the aims they want to achieve or keep moving towards them.
It's why no matter who we elect we keep moving in the same direction. It's why GWB told Beck, "when whoever sits in this chair gets elected, they'll soon realize they have very little options"
It isn't conspiracy. It's common frikking sense.
Carlin had it right. Its a big club and you ain't in it.
http://www.youtube.com/watch?v=i5dBZDSSky0
The only choice you is paper or plastic,smoking or non smoking and aisle or window.
"Without drugs" is not an option in a free society - just as "without the drug alcohol" was not an option, and the attempt to bring it about only enriched rumrunners like the founder of the Kennedy pack that still plagues us today.
Too bad it's obvious Carlin was a whacko conspiracy theorist. (:
Good they were caught, but after the “No busts for intel” deal that Obama brokered with the Sinaloa Cartel, how much will fines matter..?
Because of the HipHopPrez the USA now functions as an extension of the Sinaloa Cartel.
HSBC is also involved with Iran, North Ko-rea & the Sudan too.
Their crimes are too many to list. If they’re US banks on that teat too...then they should be held accountable also.
Thanks for the link!
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