Posted on 07/17/2012 5:02:30 AM PDT by TigerLikesRooster
Bank regulators to face tough questions over HSBC money laundering
Mon Jul 16, 2012 9:57am IST
* Connections to Iran, Mexico under the spotlight
* HSBC crackdown on money laundering riddled with lapses
* Senate investigation expected to guide Treasury, Justice
By Carrick Mollenkamp
July 16 (Reuters) - Current and former bank regulators are likely to face tough questions by a U.S. Senate panel Tuesday about their agency's oversight of HSBC Holdings Plc's efforts to stop illegal money flows between its U.S. and international offices, according to people familiar with the situation.
The Senate investigation is expected to be a roadmap for other investigations being conducted by the Treasury and Justice departments, according to people familiar with those inquiries. Those investigations are likely to lead to fines or settlements totaling between hundreds of millions of dollars to $1 billion, they said.
Comptroller of the Currency Thomas Curry, as well as an Office of the Comptroller of the Currency (OCC) lawyer and a former OCC official are scheduled to testify Tuesday before the U.S. Senate Permanent Subcommittee on Investigations, which is releasing a 450-page report Tuesday exposing how money from high-risk corners of the world, including the Middle East and Mexico, moved through the British bank.
(Excerpt) Read more at in.reuters.com ...
P!
A search for, hsbc corsi, gets links to youtube posts. I heard Corsi say that no story of his has ever generated this much interest from Washington, D.C. He is figuring ways to protect himself and his story; for example, by not telling who all he as given copies of the evidence.
John Cruz wrote the following book
World Banking World Fraud
On this website
http://worldbankingworldfraud.com/
and click on “in the news” – these are hyperlinks.
John Cruz HSBC Fraud Interview Part 1
John Cruz HSBC Fraud Interview Part 2
Massive Fraud Ignored … Until Exposed By WND
PayPal, American Express implicated in bank fraud
Exclusive: Senate investigating HSBC for money laundering
Banks Financing Mexico Gangs Admitted in Wells Fargo Deal
HSBC Accused of Laundering Money for Mexico Drug Cartels
HSBC settles money-laundering probe
Failed Compliance and False Comfort
If you also listen to the video below about Drug Cartel Money
This is an important video – listen to Max Kaiser – who talks about Wachovia bank laundering Mexican drug money 378 Billion. In 2007- drug money withdrew their money from the market and cause the crash 2008. Drug money is the only money holding up the economy..AND Max Kaiser says from a personal experience working in a bank in 1980’s the money laundering was going on then.
…..but then go back and reboot it.
Click on the red button on the front and you can click on other videos.
PROHIBITION: Too-Big-To-Fail-Bailed-Out Banks Use Drug Money They Launder To Keep Afloat In Crisis (8:48 Min)
http://www.youtube.com/watch?v=KiK9ht9HwdA
Wall St. propped up by money of Chicom, drug lords and mobs. A lovely arrangement.
So they’ll pay a fine and buy their way out, like Wachovia did when they got caught laundering billions for the drug cartels. Business as usual.
They had to government regulations you know forced them to accept the drug money.
RE: "drug money withdrew their money from the market and cause the crash 2008"
The Panic of 2008. I recall reports of large amounts of money being withdrawn (in the tens.. hundreds?.. of billions) and that put the system in a panic.
(I've read that Mr. J.P. Morgan explained what caused the panic of 1907. He said someone asked for a dollar.)
This time I wonder if it was drug money helping the Rat Party (formerly the traditional, patriotic Democratic Party) win the White House.
BTW, I heard Dr. Corsi hint that the Obama Administration's Fast and Furious made use of HSBC.
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