As announced yesterday, HSBC Bank will get away with a slap on the wrist by settling its U.S. money-laundering case, while regular citizens are relentlessly prosecuted for much lesser offenses.
Although the authorities portrayed HSBC as an effective accomplice to violent drug lords and hostile regimes, they chose not to prosecute, stating that a settlement was preferable to the "collateral consequences" of taking the bank to court. Instead, HSBC will pay $1.9 billion, a financial penalty worth only about 11% of the bank's profit last year.
We hereby demand that the DOJ will stop using its "too big to jail"-excuse and prosecute ALL financial institutions accused of criminal conduct, regardless of wealth, position and without consideration for potential "damage" to the economy.