No criminal charges: US Justice Department to let drug-bank HSBC off with just a fine?

Image by Stuart Miles / freedigitalphotos.net *

Is Obama Justice Department planning to let drug-bank HSBC off
with just a fine, and no criminal charges?

LaRouchePAC
August 26, 2012

Two reports out today indicate that the U.S. Justice Department is cooking up a deal to let HSBC — which the world knows as the leading British drug bank — avoid criminal prosecution by paying a fine of at least $700 million and perhaps as large as $1 billion. Such a fine — no big deal for a bank of HSBC’s size — is a far cry from criminal prosecution and terminating the bank’s license to operate in the U.S., which the Senate Permanent Investigations Subcommittee report, issued in July, suggested should be done.

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Iceland shows eurozone (and the US) how to fight crisis

Satellite image of Iceland by NASA / Wikipedia (1)

Iceland’s approach to dealing with the meltdown has put the needs of its population ahead of the markets at every turn.”

“Iceland’s special prosecutor has said it may indict as many as 90 people, while more than 200, including the former chief executives at the three biggest banks, face criminal charges.”

“That compares with the U.S., where no top bank executives have faced criminal prosecution for their roles in the subprime mortgage meltdown.”  
bloomberg.com
(2)

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